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Sunday, May 19, 2024

Meet the ex-classmates who built Rs120 cr Wehouse to meet home construction needs

Hyderabad-based Wehouse is an aggregator platform that aims to ease the house construction process by providing end-to-end services. It connects clients with people in the building sector, allowing
them to create their own homes. Sripad Nandiraj and Rohan Reddy, who were formerly classmates,
founded the company and anticipate a revenue of Rs 120 crore by the end of this year.

Given the unorganized structure of the market, home restoration and building in India is a difficult
venture. WeHouse, a Hyderabad-based business, seeks to make the process of constructing and
remodeling a house easier by offering a full range of construction services.

The company was founded in 2019 by Sripad Nandiraj (Founder and CEO) and Rohan Reddy (COO).
Sripad and Rohan had previously been classmates. For a long time, they had hoped to establish a
business that would make people’s lives easier.

When Rohan and his family were planning to rebuild their home in 2013, an opportunity presented
itself. Sripad and Rohan collaborated to assess the building market, raw materials required, and
suppliers involved.

That’s when they realized there was no firm that provided quick and easy building solutions that
included all of the necessary parts including labor, raw materials, and other resources. This sparked the
idea for a firm that would streamline the construction process by bringing together all of the
organizations engaged in the construction of a house. Complete services

Wehouse is a tech-powered aggregator platform that connects clients with professionals in the building
business to help them create their own homes from the ground up.

It provides a slew of residential building services, including project management, architectural structure,
design, décor, and interiors of smart houses, as well as legal licenses.

The startup process includes determining the client’s demands and costs, organizing meetings,
implementing tasks, monitoring, and final delivery.

Wehouse has partnered with construction industry firms to ensure a smooth flow of resources across
the supply chain. It has formed alliances with over 1,000 building material suppliers.

Sripad describes the company’s four-pronged philosophy as “transparency, time savings, monitoring,
and technology adoption.

He says, “With the aid of technology, we prevent manual errors and save time and money. The supply
chain is also simplified, which implies less material waste and more effective use of natural resources.”

Wehouse offers an e-monitoring option that allows consumers to check online to see how far their work
is progressing and how much material is being utilized. It also guarantees a safe project site with
monitoring to avoid theft and damage, and it keeps consumers up to speed with images and videos of
the work in progress.

Sripad explains, “We make certain that all paperwork, on-site CCTVs, and thorough weekly reports are
available to our customers. Customers may communicate easily with various teams, including design,
project management, and finance. They may also use our platform’s Q&A function to learn more about
the project’s development.”

According to the creator, each project that Wehouse works on goes through more than 200 quality
checks; there are quality sieves at every step.

Slab-cast cubes, for example, are submitted to a lab to be tested for strength. Over 200 projects have
been completed in Hyderabad, while over 400 projects are now in the works in both Hyderabad and
Chennai.

As of present, the corporation claims to have finished 1 million square feet of built-up space. According
to the creator, the Wehouse platform has more than 75,000 monthly visits.

Wehouse expanded to Chennai in August 2022, with the goal of reaching a built-up area of five lakh
square feet by March 2023. According to the startup, it has roughly 120 projects throughout the city.

Wehouse’s income is made up of 50% construction project management, 30% materials management,
and 20% interior design contracts.

Depending on labor expenses, material costs, and land prices, the company charges Rs 1,599 per sq ft in
Hyderabad and Rs 1,900 per sq ft in Chennai.

When a consumer uses Wehouse to pick materials, the startup receives a fee from the building material
provider. According to GlobalData, the Indian construction industry was valued at $609.6 billion in 2021
and is predicted to increase at a pace of more than 6% on an annual basis between 2023 and 2026.

According to Wehouse, revenue increased by 295% in fiscal year 2019-20, 482% in fiscal year 2020-21,
and 363% in fiscal year 2021-22. It anticipates a revenue of Rs 120 crore by the end of this year, or a
620% increase.

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