Author name: vibrant colours

India’s bootstrapped homestay hospitality brand delivers 43% YoY growth, remains EBITDA-positive, and targets 220+ properties with continued double-digit margins Mumbai,  April 23rd,2026: At a time when growth in hospitality startups is often equated with capital raised, EkoStay is charting a fundamentally different trajectory, one anchored in profitability, operational discipline, and consistent guest demand. The Mumbai-based alternative accommodation brand has reported ₹40 crore in revenue for FY 2025–26, marking a 43% year-on-year growth, while continuing to remain EBITDA-positive with ~10% margins. But beyond revenue, the scale of the business tells a deeper story. From its inception in 2018, EkoStay has grown into a network of 150+ professionally managed villas across 12+ leisure destinations, translating into hundreds of operational rooms and guest units serving travellers across India’s most in-demand holiday markets. The brand currently operates at an average occupancy of 56%, with a strong and growing base of repeat customers. Looking ahead, the company is targeting ₹52+ crore in revenue in FY27, alongside a 30%+ growth trajectory and plans to scale its footprint to 220+ properties nationwide. A Bootstrapped Model That Prioritised Fundamentals Over Funding Founded by Husain Khatumdi, Sohail Mirchandani, Varun Arora, and Zishan Khan, EkoStay has been built without raising external capital, relying instead on internal accruals, measured expansion, and sharp operational control. “Being bootstrapped meant every decision had to be efficient and accountable. That discipline is what continues to define how we scale today,” said Varun Arora, CEO & Co-Founder, EkoStay. This approach has enabled the company to grow sustainably, while maintaining profitability in a segment often characterised by high burn and fragmented supply. Repeat Behaviour, Not Discounts, Driving Growth A defining lever of EkoStay’s growth has been repeat bookings and organic referrals, significantly reducing dependence on paid acquisition channels. “Consistency in guest experience has been critical in building trust. A large part of our growth today comes from guests who choose to stay with us again or recommend us within their network,” added Sohail Mirchandani, COO & Co-Founder. This repeat-driven model has allowed the brand to strengthen unit economics while scaling demand in a capital-efficient manner. Scaling Supply Where Demand Already Exists EkoStay’s expansion strategy has remained sharply demand-led, focusing on high-traction leisure micro-markets rather than aggressive, undifferentiated inventory addition. The brand has seen particularly strong growth across South India, including the Nilgiris region, where demand for private villa stays continues to rise alongside evolving travel preferences. “Our focus has always been on identifying destinations where demand is structurally strong and aligning our supply accordingly,” said Zishan Khan, Chief Acquisition Officer & Co-Founder. A Standardised Yet Personalised Hospitality Model Operating at the intersection of hospitality and vacation rentals, EkoStay combines the reliability of branded hospitality with the privacy and comfort of homestays. Its model also enables homeowners to unlock value from their properties through professional management, without the operational complexities of hosting, creating a parallel supply pipeline that supports scalable growth. What ₹40 Crore Represents For EkoStay, this milestone is not just about topline growth. It reflects a business built with zero external funding, zero dilution, and no reliance on debt, driven entirely by customer demand and internal reinvestment. “₹40 crore is not just a revenue milestone, it validates a model that has been built sustainably, with long-term value creation at its core,” said Husain Khatumdi, Managing Director & Co-Founder. Positioned for the Next Phase of Category Growth India’s alternative accommodation segment is witnessing a structural shift, driven by rising domestic travel and increasing preference for private, curated, and experience-led stays. With a strong foundation of profitability, repeat demand, and a growing supply base, EkoStay is well-positioned to capitalise on this momentum. As the company scales towards 220+ properties and ₹52+ crore in revenue, its focus remains clear: disciplined growth, stronger operations, and delivering consistently high-quality guest experiences at scale.

On the occasion of World Earth Day, the CP Kukreja Foundation for Design Excellence (CPKF) has launched a White Paper titled ‘The Future of the Himalayas’ in New Delhi. The initiative underscores the critical importance of the Himalayan region, which directly impacts nearly one-fourth of the global population—around 2 billion people—who depend on it for water, food security, and ecological balance. The launch was graced by Chief Guest Shri Pema Khandu, Hon’ble Chief Minister of Arunachal Pradesh. The White Paper is the outcome of a multidisciplinary Himalayan Roundtable convened by the Foundation, bringing together experts across governance, infrastructure, ecology, governance, engineering, and social science to address the increasing complexity of development challenges in the region. At a time when climate volatility, rapid infrastructure expansion, and ecological fragility are converging, the publication underscores the urgent need to rethink prevailing development paradigms in the Himalayas. It highlights that the Indian Himalayan Region has witnessed a 15–20% rise in extreme rainfall events since the 1950s, accompanied by growing landslide risks and mounting stress on infrastructure systems. The report positions these, not as isolated occurrences, but as interconnected consequences of a deeper structural misalignment between development approaches and the realities of fragile mountain ecosystems. The White Paper calls for a fundamental shift in how development in the Himalayas is conceptualised and executed. Key recommendations include transitioning from project-led interventions to system-level planning, aligning development strategies with watershed and basin-scale ecological processes, integrating scientific data into governance frameworks, and adopting terrain-responsive, context-specific infrastructure design. It also underscores the importance of recognising ecological carrying capacity as a critical, non-negotiable parameter. Importantly, the report reframes the Himalayas not as isolated geographies but as interconnected systems that directly impact nearly 1.3 to 1.5 billion people downstream across South Asia. Introducing the White Paper, Dikshu C. Kukreja, Director, CP Kukreja Foundation for Design Excellence, said, “Launching the White Paper ‘The Future of the Himalayas’ on World Earth Day, the CP Kukreja Foundation for Design Excellence underscores the urgent need to rethink our approach to this critical ecosystem that supports nearly 2 billion people. While development across roads, hydropower, and tourism is essential, the irreversible damage being caused calls for a shift from fragmented decision-making to a more holistic, science-led policy framework. The White Paper advocates moving beyond siloed thinking towards long-term, sustainable design and resilience. Climate change is a consequence of human overreach, and unless we act responsibly, its impacts will only intensify. Protecting the Himalayas is not just an environmental priority—it is central to securing our collective future.”   Speaking at the launch, Shri Pema Khandu, Hon’ble Chief Minister of Arunachal Pradesh emphasised the need for a balanced approach to development in mountain states, highlighting that ecological preservation and economic progress must go hand in hand to ensure long-term sustainability. He expressed, “The Himalayas are at a critical juncture today, where the need for development must be carefully balanced with ecological sensitivity. While local communities seek growth and opportunity, it is essential that we adopt a calibrated, middle-path approach that safeguards this fragile ecosystem. The White Paper, ‘The Future of the Himalayas: Rethinking Development and Resilience,’ launched by the CP Kukreja Foundation for Design Excellence, is a timely step in this direction. Much like complex challenges require a coordinated, multi-pronged strategy, development in the Himalayan region must be approached through an integrated framework—combining scientific assessment, responsible planning, sustainable infrastructure, community participation, and strong policy alignment. It is important that institutions like NITI Aayog, along with policymakers, developers, and global stakeholders, work together in a mission-mode approach to embed long-term resilience and contextual understanding into every development decision.” Positioned as a strategic framework rather than a prescriptive document, the White Paper identifies key structural gaps that continue to challenge Himalayan development. These include fragmented governance systems, underutilisation of scientific data, misalignment between engineering practices and terrain realities, and increasing pressures from tourism and rapid urbanisation. A panel discussion on the sidelines of white paper release “Resilient and Sustainable Futures for the Himalayan Region”, featured an eminent line-up of experts, including: Anil Wadhwa, who has served as India’s Ambassador to Italy, Poland, Oman, and Thailand, bringing deep diplomatic and geopolitical insights into regional development Pradeep Sangwan, Environmentalist and Mountaineer, Founder of Healing Himalayas Foundation, known for his grassroots work in ecological restoration and waste management in the Himalayas Nar Bahadur Khatiwora, Regional Programme Head (Asia), International Solar Alliance, Renewable Energy Specialist and Programme Leader, with extensive experience in sustainable energy transitions across developing regions Virendra Kumar Paul, Director, School of Planning and Architecture, New Delhi, a leading voice in urban planning, policy, and sustainable built environments Siksha Swaroopa Kar, Senior Principal Scientist at CSIR–Central Road Research Institute and Associate Professor at the Academy of Scientific and Innovative Research, specialising in infrastructure resilience and transportation systems Mili Majumdar, Senior Vice President, Innovation and Research, U.S. Green Building Council, and Managing Director, Green Business Certification Institute, a key advocate for sustainable building practices and green certifications in India CP Kukreja Foundation emphasised that addressing these challenges will require coordinated, cross-sectoral efforts anchored in data-driven governance, community-informed planning, and a long-term resilience lens rather than short-term gains. The document concludes with a call for a new Himalayan development framework—one that is grounded in ecological limits, responsive to cultural contexts, and supported by institutional coherence.