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Urban Company posts Rs 1,144 Cr revenue and Rs 28.5 Cr PBT in FY25

EntrackrEntrackr · 28d ago
Urban Company posts Rs 1,144 Cr revenue and Rs 28.5 Cr PBT in FY25
Medial

Home services marketplace Urban Company recorded a 38.2% year-on-year revenue growth to Rs 1,144 crore during the fiscal year ended March 2025 (FY25), according to its annual report. The company also swung to profitability in FY25 from a significant loss in FY24. Urban Company claims to have completed 6.8 million annual customer transactions across 17 super categories in 51 cities with a total net transaction value of Rs 3,115 crore (India+International). Urban Company offers a wide range of home services, including spa and salon treatments, AC repairs, electrical work, painting, wall panel installations, pest control, and more. It also generates revenue through the sale of its water purifier (native) and products sold to service professionals. Platform services continued to be the largest revenue driver for Urban Company, contributing 64.8% of its total operating income, which rose 32.5% to Rs 742 crore in FY25. Revenue from customer memberships grew marginally by 7.7% to Rs 98 crore. On the product sales front, the company saw a sharp 300% jump in revenue from its native water purifier, which surged to Rs 116 crore in FY25 from Rs 29 crore in FY24. The remaining Rs 188 crore came from product sales to service professionals. Of its total operating revenue, Rs 997 crore was generated from India, including the sale of water purifiers, while the remaining Rs 147 crore came from its international operations. It also added Rs 117 crore from interest and profits from the sale of mutual funds, which tallied the overall income to Rs 1,261 crore in FY25 from Rs 928 crore in FY24. Employee benefits emerged as the largest cost center for Urban Company in FY25, accounting for 28.6% of the total expenditure. This expense remained flat at Rs 350 crore, which includes a non-cash ESOP cost of Rs 72.5 crore. Spending on advertising and business promotion also held steady at Rs 207 crore during the year. Other cost heads, including materials, professional incentives, freight, payment gateway charges, outsourced support, and overheads, pushed the company’s total expenditure to Rs 1,223 crore in FY25, up from Rs 1,021 crore in FY24. According to its annual report, Urban Company’s India consumer services segment posted a profit of Rs 113 crore in FY25. However, its native water purifier vertical and international operations reported losses of Rs 38.7 crore and Rs 33.7 crore, respectively. The year-on-year growth, coupled with controlled expenditure, particularly in employee benefits and advertising, helped Urban Company to post a PBT (profit before tax) of Rs 28.5 crore in FY25, compared to a loss of Rs 92.7 crore in FY24. Its ROCE and EBITDA margin improved to a positive 2.46% and 6.68%, respectively, in FY25. On a unit level, it spent Rs 1.07 to earn a rupee of operating revenue. By the end of FY24, the company’s total current assets were recorded at Rs 1671 crore, with cash and bank balances of Rs 590 crore. Urban Company is set to launch its initial public offering (IPO). In April, the company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 429 crore (approximately $50 million) through a fresh issue and an offer for sale (OFS) of Rs 1,471 crore. Urban Company, once enjoying a relatively uncontested market, is now facing growing competition from emerging startups such as Snabbit and Pronto. Meanwhile, Swiggy has also entered the on-demand professional services segment with its offering, Pyng.

Exclusive: Porter turns profitable with over Rs 4,000 Cr revenue in FY25

EntrackrEntrackr · 2d ago
Exclusive: Porter turns profitable with over Rs 4,000 Cr revenue in FY25
Medial

Exclusive: Porter turns profitable with over Rs 4,000 Cr revenue in FY25 After recording a 56% year-on-year growth in FY24, on-demand intra-city logistics platform Porter has delivered another strong performance in FY25, posting nearly 50% growth and turning profitable, according to three sources and some documents reviewed by Entrackr. Porter revenue from operations grew to 4,300 crore in the fiscal year ending March 2025 from Rs 2,734 crore in FY24, as per the documents. Porter provides a full-stack logistics platform to help businesses optimize their last-mile delivery operations. It generated 99% of its total operating revenue via the goods transportation services while the remaining came from platform fees and other operating activities. It primarily serves micro, small, and medium enterprises (MSMEs) and has expanded its presence to over 20 cities in India. According to the sources, the company managed to cut costs and reported a profit after tax (PAT) of Rs 54 crore in FY25. During FY24, the Bengaluru-based firm cut down its losses by 45% to Rs 95.7 crore. Queries sent to Porter on Monday did not elicit a response until publication of the story. We will update the story in case it responds. Porter has raised over $332 million to date, including its $200 million Series F round in May this year, with Kedaara Capital and Wellington Management leading the investment. Prior to this, the company secured $100 million led by Tiger Global in 2021. Soon after the unicorn round, Porter also provided an exit to its early backer Peak XV, which generated returns of over Rs 1,200 crore on an investment of Rs 116 crore. Porter earlier operated with minimal competition from VC-funded players, but the landscape has shifted with Uber, Delhivery, and Rapido (in the two-wheeler category) entering the space.

Urban Company posts Rs 846 Cr revenue in 9M FY25, locks and RO biz grows 7X

EntrackrEntrackr · 2m ago
Urban Company posts Rs 846 Cr revenue in 9M FY25, locks and RO biz grows 7X
Medial

Urban Company’s revenue from operations grew to Rs 846 crore in the first nine months of FY25 from Rs 601 crore in the first three quarters of FY24, its financial statements disclosed in the DRHP show. Urban Company provides home services, including spa and salon treatments, AC repair, electrical work, painting, wall panel installation, pest control, and more. Revenue from these services contributed 75% of the company’s total collections, which rose 31% to Rs 639 crore in the nine months ending December FY25. The remaining operating revenue came from the sale of products to customers and professionals, amounting to Rs 207 crore during the same period. In addition to selling white-label products for salon services, the company also supplies locks, panels, and water filtration (RO) systems, which increased 7X to Rs 75.8 crore in 9M FY25 from Rs 10.8 crore in 9M FY24. Importantly, Urban Company’s international business accounts for Rs 116.4 crore of revenue during the first three quarters of FY25. It also added Rs 84.2 crore from other income (interest income on zero-coupon bonds and fixed deposits), which took the overall revenue to Rs 930 crore in the first nine months of the last fiscal year. On the expense side, employee benefits accounted for 28.5% of the overall expenditure, which stood at Rs 258 crore during the first nine months of FY25. Urban Company spent Rs 160 crore on advertising and promotional activities and Rs 148 crore on procurement costs during the same period. The incentive given to professionals, outsourced support, cost, freight, warehousing, legal, and other overheads took the overall expenditure up by 23.2% to Rs 903 crore in 9M FY25 from Rs 733 crore in 9M FY24. A combination of over 40% revenue growth and tighter cost controls helped Urban Company swing to a profit before tax of Rs 27.1 crore in the first nine months of FY25, compared to a loss of Rs 57.7 crore during the same period last year. The company’s Return on Capital Employed (ROCE) improved to 1.84%, while its EBITDA margin rose to 6.78%. At the unit level, Urban Company spent Rs 1.07 to generate a unit of operating revenue. As of December 2024, its total current assets stood at Rs 1,514 crore, including Rs 591 crore in cash and bank balances. Urban Company plans to raise Rs 1,900 crore through its initial public offering (IPO), comprising a fresh issue of Rs 429 crore and an offer for sale (OFS) worth Rs 1,471 crore. The price band for the Tiger Global-backed company is yet to be announced. As part of the OFS, investors including Accel, VY Capital, Prosus, Bessemer, and Elevation Capital will divest a portion of their holdings.

Urban Company turns profitable with Rs 7 Cr PBT in April

EntrackrEntrackr · 1y ago
Urban Company turns profitable with Rs 7 Cr PBT in April
Medial

Urban Company has turned profitable at PBT level (profit before tax) on a consolidated basis in the last month, said two sources aware of the firm’s financial numbers. The development will potentially smoothen its public listing plan which is likely to happen in the second half of next year (2025). “Urban Company’s India business has been EBITDA profitable since October-November 2022,” said one of the people cited above requesting anonymity. “But on a consolidated basis, the firm posted a little over Rs 7 crore in profit before tax (PBT) in April 2024.” As for the firm’s India unit—which is more than 90% of its business—it recorded over Rs 11 crore PBT in April. “Urban Company has also achieved breakeven in the UAE but it is incurring losses in Singapore and Saudi region as these two markets are new,” said the person mentioned above. The profitability in April indicates that Urban Company has been able to cut losses by over two-third in FY24. “The company’s losses for the last fiscal stood under Rs 100 crore,” said another person who also requested anonymity. The 10-year-old company posted a loss of Rs 308 crore against revenue of Rs 637 crore in the fiscal year ending March 2023. According to the startup data intelligence platform TheKredible, Urban Company also reduced its losses by 40.1% in FY23 as compared to FY22. Queries sent to Urban Company didn’t elicit any response. Urban Company is a home services and beauty salon marketplace with a presence across over 30 cities in India along with operations in some foreign markets. The Gurugram-based company joined the unicorn club in June 2021 with a valuation of over $2 billion but the company hasn’t raised any primary money in the past three years. In December 2021, it bought back employee stocks (ESOPs) at a valuation of $2.8 billion. While plans for an IPO are usually a red flag when a sudden improvement in financials is observed, in Urban Company’s case, the improvement has been long in coming with a series of changes the firm has been making over the years. Be it white label or own label products, service contracts to ensure predictable cash flows, focus on repeat users and better management of partner relationships, the firm has been seen to be at work. Seen as a barometer for the state of blue collar gig economy in India, the firm will continue to find itself in the cross hairs of critics in case of any misstep, but credit has to be given for a long and sustained effort to thrash out a business out of it all. The international ventures remain a question, considering the widely different conditions and laws in each market, but in India at least, the numbers will just be the icing on the cake that seems ready for a taste test in the capital markets.

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