Mukesh Bansal’s Curefit posts strong FY25, cuts losses nearly in half

Fitness and wellness startup Curefit Healthcare Pvt Ltd on Wednesday announced its financial results for FY25, reporting a strong rise in revenues and a sharp improvement in profitability.

The company, founded by Mukesh Bansal—who also co-founded Myntra and Meraki Labs—posted operating revenue of Rs 1,216 crore, a 31% increase from Rs 927 crore in the previous fiscal. According to the Bengaluru-headquartered firm, the growth was driven by high single-digit same-store sales growth (SSSG), supply expansion in its services business, and strong category-wide performance in its products business.

Curefit said its revenue CAGR stood at 32% over the past two years, rising from Rs 697 crore in FY23. The company also reported a substantial improvement in profitability, with EBITDA losses narrowing to Rs 36 crore, compared with Rs 209 crore in FY24. EBITDA margins improved from –22% to –3%.

The company’s after-tax loss fell 46% to Rs 480 crore, down from Rs 889 crore a year earlier, reflecting operational discipline and stronger operating leverage in its services business, alongside improved gross margins in the products division.

“India’s relationship with fitness is fundamentally changing. We’re seeing demand not just in metros but increasingly in smaller cities where access to quality fitness infrastructure has been limited,” said Naresh Krishnaswamy, CEO, Curefit.

He added that India’s fitness penetration stands at just 0.7%, far below global benchmarks—countries like Brazil and China are above 5%, while the US and Australia stand at 20%+.

“Our financial results validate our approach. We’ve grown revenue by 30%+ while margins are rapidly expanding. Growth momentum has continued in H1 FY26, with around 40% increase in operating revenue and a 40% reduction in after-tax loss. We expect to maintain this trajectory of profitable growth, supported by strong operating leverage,” Krishnaswamy said.