+
JSW One Platforms achieves FY24 GMV target rate of $ 1 billion
ECONOMY & POLICY

JSW One Platforms achieves FY24 GMV target rate of $ 1 billion

JSW One Platforms, the B2B e-commerce venture of JSW Group, crossed the $ 1 billion GMV run rate for FY24. The company reported a GMV of Rs 7.85 billion for March 2024, with an exit GMV run rate of Rs 94.20 billion for FY24. It has quadrupled in growth from the last year, with the actual GMV at Rs 52 billion for FY 24. With this, the company has become one of the fastest-growing tech companies in India.

?Our bet on digitisation of the B2B ecosystem is paying off, with our customers relying on online and digital channels for manufacturing and construction materials. Last year, we had set a target of $ 1 billion exit by March 2024. With strong tailwinds in the sector and our focus on distribution and supply chain, we were able to scale past run-rate at Rs 94.20 billion for FY24. As we embark on our journey to the IPO over the next 18-24 months, we will leverage the growth across our customer segments and augment the same with our private brands to cater to the evolving market needs.? said Gaurav Sachdeva, CEO of JSW One Platforms.

The company intends to continue to scale up and maintain high growth rates while building on allied categories. JSW One is revolutionising B2B e-commerce, with over 70 per cent of repeat orders from customers showing their trust in the brand.

JSW One enables end-to-end fulfilment from logistics to finance to over 53,000 registered users across India. The company operates in 18 states and has expanded operations in Madhya Pradesh, Chhattisgarh, Kerala, Rajasthan, Punjab, Haryana, to name a few. Its diversified offerings and enhanced value proposition, combined with a tech-led customer experience, have been the cornerstone of its strategy. The company also operates JSW One Homes and has invested in creating experience centres where JSW One Homes customers can engage with contractors and architects, understand the technical and aesthetic aspects of construction materials and review their digital home construction journey.

JSW One Platforms, the B2B e-commerce venture of JSW Group, crossed the $ 1 billion GMV run rate for FY24. The company reported a GMV of Rs 7.85 billion for March 2024, with an exit GMV run rate of Rs 94.20 billion for FY24. It has quadrupled in growth from the last year, with the actual GMV at Rs 52 billion for FY 24. With this, the company has become one of the fastest-growing tech companies in India. ?Our bet on digitisation of the B2B ecosystem is paying off, with our customers relying on online and digital channels for manufacturing and construction materials. Last year, we had set a target of $ 1 billion exit by March 2024. With strong tailwinds in the sector and our focus on distribution and supply chain, we were able to scale past run-rate at Rs 94.20 billion for FY24. As we embark on our journey to the IPO over the next 18-24 months, we will leverage the growth across our customer segments and augment the same with our private brands to cater to the evolving market needs.? said Gaurav Sachdeva, CEO of JSW One Platforms. The company intends to continue to scale up and maintain high growth rates while building on allied categories. JSW One is revolutionising B2B e-commerce, with over 70 per cent of repeat orders from customers showing their trust in the brand. JSW One enables end-to-end fulfilment from logistics to finance to over 53,000 registered users across India. The company operates in 18 states and has expanded operations in Madhya Pradesh, Chhattisgarh, Kerala, Rajasthan, Punjab, Haryana, to name a few. Its diversified offerings and enhanced value proposition, combined with a tech-led customer experience, have been the cornerstone of its strategy. The company also operates JSW One Homes and has invested in creating experience centres where JSW One Homes customers can engage with contractors and architects, understand the technical and aesthetic aspects of construction materials and review their digital home construction journey.

Next Story
Infrastructure Urban

Budget Proposal Aims to Boost Investments

The recent budget proposal has introduced measures designed to promote investments and generate job opportunities across various industries, as reported by the Economic Times. This initiative seeks to stimulate economic activity and strengthen the country's growth trajectory by encouraging both domestic and foreign investments. Key aspects of the proposal include targeted incentives for sectors poised for expansion, such as renewable energy, infrastructure, and technology. The government aims to create a more favorable investment climate by offering tax benefits, subsidies, and streamlined reg..

Next Story
Infrastructure Urban

Indian Financial System Resilient Amidst Challenges

The Reserve Bank of India (RBI) Deputy Governor M. Rajeshwar Rao has emphasized the robust nature of the Indian financial system despite global economic headwinds, according to Economic Times. Rao?s comments reflect confidence in the stability and resilience of India's financial sector amidst a backdrop of international economic uncertainties and financial volatility. Rao highlighted that India?s financial system is well-equipped to handle external shocks due to its solid regulatory framework and prudent risk management practices. The country?s banking sector has demonstrated resilience throug..

Next Story
Infrastructure Energy

SC Allows State Tax on Mines, Minerals

Opposition leaders have welcomed the Supreme Court's recent decision permitting states to levy taxes on mines and mineral-bearing lands, as reported. The ruling is seen as a significant victory for state governments seeking greater control and revenue from natural resource extraction within their jurisdictions. The Supreme Court?s decision empowers states to impose taxes on mining operations and mineral-rich lands, which could enhance their revenue streams and enable better management of local resources. This move is particularly important for states with substantial mineral resources, as it a..

Talk to us?