Cofounder & CEO of Urban Company - a fullstack marketplace for home services.
Gurgaon, Haryana
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Top 3 takeaways from Q2 FY27 earnings call -
1. Consolidated business growing ~40% YoY for last 3 quarters, with core margins expanding. We expect that expansion to accelerate over the next few quarters, enough to absorb InstaHelp losses and take the company to Adjusted EBITDA break-even by Q3FY28.
2. InstaHelp is scaling fast. We are building for scale, not near-term profits, and losses will remain elevated for many more quarters by design. From Q3FY28, our core business profits will fund it. This category is likely to remain under monetized for next several quarters.
3. Our Board approved a raise of up to ₹2,500 Cr. We have 1,900 Cr. of cash, and our core is becoming more profitable. This raise gives us strategic flexibility and a war chest. Should the competitive intensity in InstaHelp rise, we have both the balance sheet and the intent to respond in full.
Q2 FY27 was another strong quarter for us at Urban Company.
Our consolidated NTV has now grown ~40% YoY for three straight quarters, well ahead of our pre-listing trend. At the same time, our core business continues to improve its margins YoY, even as we invest aggressively in InstaHelp.
Some highlights from our Q2 results:
• Consolidated NTV up 39% YoY to ₹1,432 Cr
• Net Revenue up 41% YoY to ₹537 Cr
• Orders delivered up 103% YoY to 15.1 million
• Adjusted EBITDA (Ex InstaHelp) up 213% YoY to ₹30 Cr
• Consolidated Adjusted EBITDA of ₹(144) Cr, reflecting a deliberate ₹(174) Cr investment in InstaHelp
Business highlights:
• India Consumer Services (Ex InstaHelp): NTV up 26% YoY, Adjusted EBITDA margin up 110 bps YoY to 3.5%. Tier 2 cities are growing ~37% and emerging as a second growth engine.
• International: NTV up 66% YoY, margins up 190 bps YoY to 2.0%
• Native: NTV up 35% YoY, loss margin narrowed by 220 bps, on track for a strong festive season
• InstaHelp: Orders up 63% QoQ to 6.23 million, loss per order down ~19% QoQ as the network densifies
What I'm proudest of: Average monthly in-hand earnings for our service professionals rose ~10% to ₹30,708 in H1, with the top 5% earning ₹56,731.
Long runway ahead. Grateful to our team, partners and customers.
bit.ly/47nMoqA
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Abhiraj Singh Bhal retweeted
With an average monthly income of ₹30,000 & potentially over ₹55,000, @urbancompany_UC has brought formal job-level security and gig economy scale.
Congrats @abhirajbhal on creating so many jobs and such useful service for customers 👏🏼👏🏼
Q2 FY27 was another strong quarter for us at Urban Company.
Our consolidated NTV has now grown ~40% YoY for three straight quarters, well ahead of our pre-listing trend. At the same time, our core business continues to improve its margins YoY, even as we invest aggressively in InstaHelp.
Some highlights from our Q2 results:
• Consolidated NTV up 39% YoY to ₹1,432 Cr
• Net Revenue up 41% YoY to ₹537 Cr
• Orders delivered up 103% YoY to 15.1 million
• Adjusted EBITDA (Ex InstaHelp) up 213% YoY to ₹30 Cr
• Consolidated Adjusted EBITDA of ₹(144) Cr, reflecting a deliberate ₹(174) Cr investment in InstaHelp
Business highlights:
• India Consumer Services (Ex InstaHelp): NTV up 26% YoY, Adjusted EBITDA margin up 110 bps YoY to 3.5%. Tier 2 cities are growing ~37% and emerging as a second growth engine.
• International: NTV up 66% YoY, margins up 190 bps YoY to 2.0%
• Native: NTV up 35% YoY, loss margin narrowed by 220 bps, on track for a strong festive season
• InstaHelp: Orders up 63% QoQ to 6.23 million, loss per order down ~19% QoQ as the network densifies
What I'm proudest of: Average monthly in-hand earnings for our service professionals rose ~10% to ₹30,708 in H1, with the top 5% earning ₹56,731.
Long runway ahead. Grateful to our team, partners and customers.
bit.ly/47nMoqA
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Q2 FY27 was another strong quarter for us at Urban Company.
Our consolidated NTV has now grown ~40% YoY for three straight quarters, well ahead of our pre-listing trend. At the same time, our core business continues to improve its margins YoY, even as we invest aggressively in InstaHelp.
Some highlights from our Q2 results:
• Consolidated NTV up 39% YoY to ₹1,432 Cr
• Net Revenue up 41% YoY to ₹537 Cr
• Orders delivered up 103% YoY to 15.1 million
• Adjusted EBITDA (Ex InstaHelp) up 213% YoY to ₹30 Cr
• Consolidated Adjusted EBITDA of ₹(144) Cr, reflecting a deliberate ₹(174) Cr investment in InstaHelp
Business highlights:
• India Consumer Services (Ex InstaHelp): NTV up 26% YoY, Adjusted EBITDA margin up 110 bps YoY to 3.5%. Tier 2 cities are growing ~37% and emerging as a second growth engine.
• International: NTV up 66% YoY, margins up 190 bps YoY to 2.0%
• Native: NTV up 35% YoY, loss margin narrowed by 220 bps, on track for a strong festive season
• InstaHelp: Orders up 63% QoQ to 6.23 million, loss per order down ~19% QoQ as the network densifies
What I'm proudest of: Average monthly in-hand earnings for our service professionals rose ~10% to ₹30,708 in H1, with the top 5% earning ₹56,731.
Long runway ahead. Grateful to our team, partners and customers.
bit.ly/47nMoqA
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Loved my recent interactions with @urbancompany_UC InstaHelp partners. They come from humble backgrounds, but share a powerful aspiration: to build a better future for themselves and their families.
Proud of the women powering InstaHelp. Their ambition and determination are at the heart of what we’re building. ❤️
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Abhiraj Singh Bhal retweeted
🔥Meet the new Native Ultra Lock 🔥
Designed for every entrance. Built for every day.
🔊 Sound on
@abhirajbhal @varunkhaitan @ra9z
@Godgeez
#Native #YearsAhead
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Simply the best water purifier the world has ever seen!
Native M3 Pro: 3 years no service needed. And a lot more… super proud of the team @varunkhaitan @Godgeez
Meet the new Native M3 Pro
#Native #YearsAhead
📢 Sound on
@abhirajbhal | @varunkhaitan | @ra9z | @Godgeez
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Abhiraj Singh Bhal retweeted
Meet the new Native M3 Pro
#Native #YearsAhead
📢 Sound on
@abhirajbhal | @varunkhaitan | @ra9z | @Godgeez
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Today, InstaHelp by @urbancompany_UC delivered ~ 106,000 orders. For a service which was non existent 18 months back, that’s an important milestone. A big thanks to the thousands of professionals who show up every day, and to the customers who've made it a part of their routine.
We are building InstaHelp with the same principles that have guided Urban Company for over a decade: exceptional service quality, high reliability, and disciplined execution. As we scale, these strengths translate into higher retention, stronger customer lifetime value, and healthier unit economics. As the category matures, Net Transaction Value and Contribution Margin will increasingly become our North Star metrics. They are the clearest indicators of whether we’re creating lasting value for customers, service partners, and shareholders.
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InstaHelp by @urbancompany_UC just delivered 100k orders today and counting as of 5:54 pm!
More details to follow soon, not just on the milestone but on how we are thinking about building this business for the long term.
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Q1 FY27 was one of the strongest quarters in @urbancompany_UC's history.
Some highlights from our shareholders' letter:
• Consolidated NTV up 42% YoY to ₹1,465 Cr
• Net Revenue up 44% YoY to ₹528 Cr, our fastest growth in 16 quarters
• Adjusted EBITDA loss narrowed QoQ to ₹(65) Cr from ₹(98) Cr, driven almost entirely by our InstaHelp investment of ₹(132) Cr.
• Adjusted EBITDA (Ex InstaHelp) grew 116% YoY to reach ₹67 Cr. in Q1 FY26
Business highlights:
• India Consumer Services (Ex InstaHelp): NTV up 29% YoY, a 4th straight quarter of accelerating growth, at 6.9% Adjusted EBITDA margins (Up 170 bps YoY)
• International: NTV up 76% YoY, with both UAE & Singapore delivering profitable growth
• Native: NTV up 51% YoY, Adjusted EBITDA margins up 410 bps YoY
• InstaHelp: Orders up 43% QoQ , Adjusted EBITDA loss per order improved by ~₹101
Details can be read in our shareholders' letter here - uc-investor-reports.s3.ap-so…
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We continue to be excited and long term bullish on our operations in the Kingdom of Saudi Arabia, a large and high potential market for @urbancompany_UC.
On 1 Jan 2025, we entered into a strategic 50:50 joint venture with @smasco to build the most loved home services platform in the country, @Yammak_sa.
Yammak has been scaling well with a clear path to profitability, and we remain very excited by the progress so far. We could not have asked for a better partner than SMASCO for this journey.
As the market is now being served through the joint venture, we have wound down our step down subsidiary as part of a routine operational process.
We look forward to building KSA’s most loved home services platform together with SMASCO.
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Abhiraj Singh Bhal retweeted
Fantastic crowd and demos at #MumbaiTechWeek! Incase you missed it, sharing Urban Company's demos here. Here is Demo 1 – "Our Voice AI orchestration in action".
This is a real call from production.
On the surface, what you hear is a smooth conversation — multilingual, dealing well with interruptions, real-time data pulls, low latency, natural filler words.
Behind this: a fully deployed ecosystem of 150+ AI agents, built and interacting with one another. Seamless switching between specialist agents. Two parallel calls in real time for the same issue. Shared context. Real actions.
All our CX and PX support goes through AI — 86% CX resolution, 55% PX resolution.
And as the solve has gotten genuinely better — trust is building. Always available. Deeply empathetic. Quick to act. For many, a better experience than before.
@inside_UC @urbancompany_UC @mumbai_tech_
#MumbaiTechWeek #VoiceAi #AiOrchestration #VoiceBots
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In light of recent reports regarding recordings inside customers’ homes by one of our competitors, many people have asked whether @urbancompany_UC engages in anything similar, or intends to do so in the future.
The answer is clear and unequivocal: we do not.
We are in the business of trust, and we take customer trust and privacy extremely seriously. We do not engage in any such activities, have never done so in the past, and have no plans to do so in the future. Our customers’ privacy is paramount to us, and we remain fully committed to upholding the highest standards of confidentiality, safety, and trust.
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Introducing Native Lock Ultra by @urbancompany_UC
• Facial Recognition for effortless entry
• Unmatched Security for complete peace of mind
Built for a world where access should be instant and uncompromising.
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Abhiraj Singh Bhal retweeted
🚀1 million+ delivered bookings. And counting. 🚀
"InstaHelp’s trajectory is a testament to the trust our consumers place in the platform for their most immediate, everyday needs." - @abhirajbhal
#InstaHelp
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Abhiraj Singh Bhal retweeted
Our mobility initiative, Udaan, proves something simple: when women gain the freedom to move, they rise.
🛵 1,800+ women enabled with riding skills and vehicle ownership
🛵 14% uplift in net earnings
Mobility is not just access. It is agency in motion.
Read more about Udaan in Ride to Rise report, link in comment
@abhirajbhal | @Prosus_Ventures
#UrbanCompany #RideToRise #Udaan #FinancialInclusion
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Had the privilege of meeting Shri Dr. Mansukh Mandaviya (@mansukhmandviya @OfficeOf_MM), Honourable Union Minister of Labour & Employment, to discuss how skilling and access can unlock sustainable, long-term opportunities for millions of gig workers across India.
At Urban Company (@urbancompany_UC), this has been foundational since 2014 - supported by 425,000+ sq. ft. of training infrastructure across 17 cities, 400+ trainers, and Skill India-certified credentials in partnership with NSDC.
We also shared insights from our Ride to Rise report and Project Udaan, which is building an end-to-end mobility ecosystem for women service partners.
Encouraging alignment on expanding economic opportunity through stronger access and enabling infrastructure. We remain committed to advancing dignity, growth, and financial independence for service professionals.
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