Urban Company544515Quarterly results
Q2 FY27 Shareholders' Letter: NTV ₹1,432 Cr. (+39% YoY), fresh fund raise of up to ₹2,500 Cr. approved
Urban Company's first shareholders' letter after listing covers Q2 FY27.
By ScoutQuest · · 2 min read
- Revenue from operations
- ₹537 Cr., up 41% YoY
- Adjusted EBITDA
- ₹(144) Cr.; excluding InstaHelp it was ₹30 Cr., up 213% YoY
- Fresh fund raise approved
- up to ₹2,500 Cr., subject to shareholder approval
The company shared its Shareholders' Letter & Report for the quarter ended September 2026 (Q2 FY27), its first shareholders' letter after listing.
Consolidated Q2 FY27
- Net Transaction Value (NTV) grew 39% YoY to ₹1,432 Cr.
- Revenue from operations grew 41% YoY to ₹537 Cr.
- Orders delivered were 15.1 million, up 103% YoY
- Annual transacting users reached nearly 10 million, up 35% YoY
- Adjusted EBITDA was ₹(144) Cr., a loss, reflecting a ₹(174) Cr. investment in InstaHelp
- Excluding InstaHelp, Adjusted EBITDA was ₹30 Cr., up 213% over the same period last year
- Cash and treasury investments stood at ₹1,901 Cr. as at September 30, 2026
Segment performance
- India Consumer Services (ex InstaHelp): NTV up 26.3% YoY to ₹963 Cr.; net revenue up 28% YoY to ₹336 Cr.; Adjusted EBITDA ₹34 Cr., or 3.5% of NTV against 2.4% a year earlier, a 110 bps improvement
- International: NTV up 66% YoY to ₹267 Cr. (52% in constant currency); net revenue up 82% YoY to ₹75 Cr.; Adjusted EBITDA margin up 190 bps YoY to 2.0%
- KSA joint venture: NTV up 153% YoY to ₹93 Cr.; Adjusted EBITDA ₹(16) Cr. against ₹(20) Cr. a year earlier
- Native: NTV up 35% YoY to ₹132 Cr.; net revenue up 40% YoY to ₹105 Cr.; Adjusted EBITDA loss ₹(9) Cr., loss margin narrowing to (6.8)% of NTV from (9.0)%, a 220 bps improvement
- Tier 2 cities NTV grew about 37% YoY in Q2 FY27
InstaHelp
- Order volumes up 63% QoQ to 6.2 million; NTV up 34% QoQ to ₹71 Cr.
- Adjusted EBITDA loss per order improved from ₹(346) in Q1 FY27 to ₹(279)
- Net Order Value declined from ₹138 to ₹114
- Adjusted EBITDA loss for the quarter was ₹(174) Cr.; the company expects losses to remain elevated for a few more quarters before they begin to come down
Capital raise
- The Board approved a fresh fund raise of up to ₹2,500 Cr., subject to shareholder approval
- The stated purpose is flexibility: to invest with conviction across India Core, International and Native, cement leadership in InstaHelp, and pursue inorganic opportunities selectively
Targets
- Adjusted EBITDA breakeven by Q3 FY28
- Adjusted EBITDA of ₹1,000 Cr. by FY31
- Steady-state India Consumer Services margin target of 9-10% of NTV over the next few years
Supply and partners
- India Consumer Services (ex InstaHelp) had about 57k monthly active service partners in Q2 FY27, up 16.1% YoY
- In H1 FY27, partners earned ₹30,708 per month in hand on about 97 utilised hours, against ₹18,845 on 59 hours in FY22, a 63% increase in monthly earnings
Also from Urban Company
Urban Company posts 41% NTV growth in H1 FY27, Adj. EBITDA (ex InstaHelp) margin at 3.5% of NTV
23 Oct 2026
Urban Company stock fell over 7% in trade
23 Oct 2026
Urban Company shares fell 18-20% this week in a one-way decline since reporting results
23 Oct 2026
More numbers
- Consolidated NTV, Q2 FY27₹1,432 Cr.
- Revenue from operations, Q2 FY27₹537 Cr.
- Consolidated Adjusted EBITDA, Q2 FY27₹(144) Cr.
- Adjusted EBITDA excluding InstaHelp₹30 Cr.
- India Consumer Services (ex InstaHelp) NTV growth26.3% YoY
- Fresh capital raise approved by the Board₹2,500 Cr.
- Cash and treasury investments as at September 30, 2026₹1,901 Cr.
- InstaHelp Adjusted EBITDA loss for the quarter₹(174) Cr.
Source: BSE · 16 Oct 2026
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