Urban Company Ltd(URBANCO)

NSE: URBANCOBSE: 544515

₹ 135.15+1.88%refreshed 26 Oct, 02:15 pm ISTMarket cap: ₹ 20,843 crWebsite: www.urbancompany.comUpdated: 24 Oct 2026

About

Urban Company is an India-headquartered technology platform that connects consumers with trained service professionals for home services (beauty, cleaning, repairs, appliances) and sells connected-home hardware under the Native brand. In FY26 the company reported consolidated revenue of ₹1,555.54 crore across three reported segments. In Q2 FY27 consolidated net transaction value grew 39.1% YoY to ₹1,432.3 crore and orders delivered more than doubled to 15.1 million, including 6.23 million from its hyperlocal InstaHelp service.^[1][2]

Business segments

India Consumer Services (ex-InstaHelp): 69.9% of FY26 segment revenue (₹1,086.62 crore); the core home-services marketplace connecting consumers to trained professionals for beauty, cleaning, and repairs in India.^[3]
Native: 17.2% of FY26 segment revenue (₹266.95 crore); designs and sells connected-home hardware - water purifiers and smart locks - with integrated installation and maintenance services.^[3]
International Business: 11.9% of FY26 segment revenue (₹184.59 crore); operates the home-services marketplace in UAE and Singapore, and holds a 50-50 JV (Yammak) in Saudi Arabia with SMASCO.^[3]
InstaHelp: hyperlocal on-demand home-services business launched in FY26, not yet a separate reported segment; addressable market pegged at ₹7,000 - ₹12,000 crore NTV in the top 15 cities.^[4]

Key operating numbers

Consolidated NTV: ₹1,432.3 crore in Q2 FY27, +39.1% YoY; full-year FY26 consolidated NTV was ₹4,290 crore, +33% YoY.^[2][4]
Orders delivered: 15.1 million in Q2 FY27, more than double YoY, vs 13.2 million in Q1 FY27.^[2][4]
Annual transacting users: ~10 million in Q2 FY27 (+34.5% YoY), vs 9.3 million in Q1 FY27 and 8.4 million at end of FY26.^[2][4]
India Consumer Services grew 26.3% YoY in Q2 FY27 with festive season moved into Q3; contribution margin 22% and adjusted EBITDA margin 3.5% of NTV (+110 bps YoY).^[2]
Service professionals in India Consumer Services grew 16% in Q2 FY27.^[2]
InstaHelp orders: 6.23 million in Q2 FY27 (+63% QoQ); loss per order fell to ₹279 from ₹346 in Q1 FY27 and ₹447 in Q4 FY26.^[2][4]
About 45% of new users in InstaHelp's micro-markets come through InstaHelp, as of Q2 FY27.^[2]
83% of consolidated NTV came from retained users in FY26, up from 72% in FY22.^[5]

Native products

Native grew 35.4% YoY in Q2 FY27 despite festive sales shifting to Q3; loss margin narrowed 220 bps YoY, with R&D the bulk of losses.^[2]
Native NTV was ₹345 crore for FY26 (+122% YoY).^[4]
Portfolio: water purifiers (including the M3, marketed as requiring no service for three years) and smart locks (including the camera-integrated Native Lock Ultra), sold with installation and maintenance.^[4]
Native gross margin improved from 40% in FY25 to 46% in FY26; ~75% of early-cohort water purifier customers renewed filters at ~₹5,000 each.^[5]
Amber added as a second contract manufacturer for water purifiers in Q3 FY26 to diversify supply.^[6]
Native is developing a residential air conditioner, to be sold mainly through its own app, with a 1-2 year learning phase; management puts AC TAM at ~10x water purifiers.^[2]

International operations

International grew 66.2% YoY in Q2 FY27; adjusted EBITDA margin rose 190 bps YoY to 2% of NTV; UAE kept growing despite the war.^[2]
FY26 international NTV was ₹700 crore (+75% YoY), with UAE and Singapore combined turning adjusted EBITDA positive at ₹6 crore.^[4]
Subscriptions drove ~72% of Singapore cleaning NTV and ~50% of UAE cleaning NTV in Q4 FY26; international users transacted at 2.6x India CS frequency in FY26.^[5]
KSA (Yammak) is a 50-50 JV with SMASCO, deconsolidated from revenue from 1 January 2025; UC recognises only its share of JV results.^[4][6]
No new international geographies planned; focus stays on India, UAE, Singapore and KSA for the next few years.^[4]

Service partners and technology

Monthly active service partners: 59,475 in Q3 FY26.^[6]
Active hours per partner per month: 91 in 9M FY26, up from 83 in FY25 and 59 in FY22.^[6]
Average monthly net earnings per partner rose to ₹28,322 in 9M FY26 from ₹26,489 in 9M FY25.^[6]
UC Instant, offering 30 - 60 minute fulfilment across salon, cleaning, AC repair, electrician, plumber and carpenter, was rolled out across core services by Q1 FY27.^[4]
90 - 95% of code written by AI as of Q1 FY27, with engineering headcount flat over three to four years.^[4]
AI chat handles 85% of customer queries end-to-end, cutting support cost per delivery 30% YoY as of Q4 FY26.^[5]

Targets and expansion plans

Consolidated adjusted EBITDA breakeven targeted for Q3 FY28, and ~₹1,000 crore adjusted EBITDA for FY31, as reaffirmed in Q1 FY27.^[4]
India CS adjusted EBITDA margin to move toward a steady-state 9-10% via operating leverage in salaries, marketing and G&A.^[2][4]
Native combined Q2+Q3 FY27 YoY growth expected at 50-55%.^[2]
InstaHelp steady state requires pricing of ~₹200/hour and net order value of ~₹300; breakeven by FY31 at the latest.^[2][4]
Company plans to keep expanding in Tier 2 cities, which it describes as a second growth engine.^[2]

Recent developments

16 Oct 2026: postal ballot notice issued to approve raising up to ₹2,500 crore through issuance of securities; e-voting runs 17 Oct to 15 Nov 2026.^[7]
The raise is intended for flexibility, InstaHelp investment and selective M&A; cash and treasury stood at ₹1,901 crore in Q2 FY27.^[2]
Q2 FY27 consolidated adjusted EBITDA was -₹144 crore after ₹174 crore InstaHelp investment; ex-InstaHelp it was ₹30 crore (+213% YoY).^[2]
IPO completed September 2025, raising ₹469 crore net in primary proceeds.^[8]
Beauty added Japanese facials and an Ayurvedic Luxe line with Forest Essentials in Q1 FY27.^[4]

Market Cap

₹20,843 Cr

High / Low

₹184 / 96

Stock P/E

-44.7

Price / Book

10.3

Book Value

₹14

EPS

₹-1.5

No. of Shares

154.22 Cr

ROCE

-7.2%

ROE

-10.9%

OPM

-7.8%

Debt / Equity

0.00

Sales

₹1,556 Cr

Net Profit

₹-235 Cr

Promoter holding

19.0%

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