Event Tech Startup Spalba Posts Rs 18 Cr Revenue 3X Profit Growth in FY23

Spalba stands out among SaaS-based event-tech platforms as a shining example of successful business scaling sans excessive financial burnout. Evidence of its impressive growth trajectory can be found in its topline, which skyrocketed nearly 30 times over the span of the past two fiscal years (from FY21 to FY23), all while maintaining profitability.

During the fiscal year ending March 2023, Spalba saw a remarkable 184% surge in revenue from operations, reaching Rs 18.2 crore compared to Rs 6.41 crore in FY22. This substantial growth underscores Spalba’s commitment to innovation and sustainable business practices, setting it apart as a beacon of success in the competitive startup landscape.

Established back in 2020, Spalba stands out as a cutting-edge SaaS-powered hub for enterprise-level event coordination. Its platform is tailored to suit two key sectors: one dedicated to venues and the other to event organizers. For venues, Spalba offers a dynamic sales toolkit designed to enhance revenue streams through banquet bookings. Its arsenal includes immersive XR walkthroughs, remote property showcases, and customizable event mockup tools.

Meanwhile, event planners benefit from Spalba’s comprehensive event management software, granting access to a plethora of event spaces, virtual reconnaissance options, downloadable layouts, seating arrangements, collaborative features, and intuitive drag-and-drop planning capabilities.

Related: Rapido Triples Revenue to Rs 443 Crore in FY23, Diversifies Income Streams

In the past fiscal year, Spalba experienced a notable increase in expenditures, particularly in venue and equipment rentals, constituting the largest chunk of expenses at 26.7% of the total. This cost surged significantly to Rs 4.1 crore during the FY23 period.

To foster expansion and broaden its reach, the company bolstered its workforce, leading to a significant surge in employee benefit expenses, which skyrocketed to Rs 2.55 crore in FY23 from Rs 1.18 crore in FY22. Additionally, Spalba incurred expenses for event management and project consultancy, amounting to Rs 2.1 crore and Rs 1.62 crore in FY23, respectively.

Meanwhile, event planners benefit from Spalba’s comprehensive event management software, granting access to a plethora of event spaces, virtual reconnaissance options, downloadable layouts, seating arrangements, collaborative features, and intuitive drag-and-drop planning capabilities.

The company’s total expenditure swelled to Rs 15.37 crore in FY23, marking a threefold increase from Rs 4.98 crore in FY22. Despite this substantial rise in expenses, Spabla’s profits saw a remarkable surge, jumping to Rs 3.4 crore during FY23 compared to Rs 1.16 crore in FY22. Notably, the company had incurred losses of Rs 26 lakh in FY21.

Meanwhile, event planners benefit from Spalba’s comprehensive event management software, granting access to a plethora of event spaces, virtual reconnaissance options, downloadable layouts, seating arrangements, collaborative features, and intuitive drag-and-drop planning capabilities.

On a per-unit basis, the Gurgaon-based startup spent Re 0.84 to generate a rupee of operating revenue during FY23. Regarding ownership structure, co-founders Naveen Gupta and Vishal Puri each hold a 40% stake in the company, while the remaining 20% stakes are owned by co-founder Jaya Pandey.
Spalba, a standout SaaS event-tech platform, exhibits exceptional business scaling and profitability. Its revenue surged by 184% in FY23, reaching Rs 18.2 crore, underscoring its commitment to innovation and sustainable practices. Tailored for venue sales and event management, it offers immersive XR walkthroughs and comprehensive event management software. Despite increased expenses, including venue rentals and workforce expansion, Spalba’s profits soared to Rs 3.4 crore in FY23. Notably, it incurred losses of Rs 26 lakh in FY21, but achieved a remarkable surge in profitability. The co-founders hold ownership stakes, with Naveen Gupta and Vishal Puri each owning 40% and Jaya Pandey owning 20%.

Spalba’s comprehensive event management software, granting access to a plethora of event spaces, virtual reconnaissance options, downloadable layouts, seating arrangements, collaborative features, and intuitive drag-and-drop planning capabilities.