Zoho Becomes First Bootstrapped Startup in India to Cross ₹12,000 Cr Revenue

Zoho Corporation has achieved a significant milestone in FY25, becoming the first bootstrapped startup in India to surpass ₹12,000 crore in annual revenue.

The company reported revenue of ₹12,313 crore, reflecting a 17.8% year-on-year growth. Over the past three years, Zoho has nearly doubled its revenue, growing from ₹6,711 crore in FY22 to its current scale. Including other income of ₹1,231 crore, total revenue reached ₹13,544 crore in FY25.

Zoho’s growth continues to be driven by its flagship offerings. The Zoho Suite contributed 57% of total revenue at ₹7,051 crore, while ManageEngine accounted for 39% at ₹4,863 crore. The remaining ₹399 crore came from services.

Geographically, North America remained the largest market, contributing 41% of revenue, followed by Asia at 30% and Europe at 23%. Other regions, including Latin America, Africa, Australia, and New Zealand, made up the rest.

Despite strong revenue growth, profitability remained largely stable. Zoho reported a net profit of ₹3,191 crore in FY25, slightly lower than ₹3,299 crore in FY24. This was primarily due to a sharp rise in costs, with total expenditure increasing 30.5% year-on-year to ₹9,217 crore.

Employee benefits accounted for the largest share of expenses at 47%, rising to ₹4,347 crore. Advertising and promotional expenses also increased significantly, growing by over 31% to ₹2,230 crore. Additional investments in infrastructure, including servers and data centres, further contributed to the cost increase.

The company maintained healthy operating metrics, with an EBITDA margin of 31.27% and a return on capital employed (ROCE) of 16.85%. Zoho spent ₹0.75 to earn every rupee in FY25, indicating continued operational efficiency.

On the leadership front, Sridhar Vembu transitioned to the role of Chief Scientist, while Shailesh Kumar Davey has taken over as Group CEO.

Zoho has also expanded its product ecosystem with the launch of Zoho Pay, integrated with its chat platform Arattai, marking its entry into the consumer fintech space.

With a strong financial foundation, continued investments in AI and infrastructure, and a growing presence in both global and domestic markets, Zoho is well-positioned for its next phase of growth, even as it balances profitability with long-term strategic investments.