Urban Company Q2: core profit triples to Rs 30; board clears Rs 2,500 crore raise

Urban Company, an app for booking home services like cleaning, salon and repairs with trained professionals at fixed prices, plus its own water purifiers and smart locks, reported Q2 FY27 revenue of Rs 537 crore, up 41% year on year . Adjusted EBITDA excluding InstaHelp more than tripled year on year to Rs 30 crore, while the consolidated adjusted EBITDA loss widened on deliberate InstaHelp spending; the board approved a raise of up to Rs 2,500 crore for flexibility .

Sales grew 41% while adjusted EBITDA split into core gain and InstaHelp loss

Consolidated net transaction value grew nearly 40% year on year for the third straight quarter, well ahead of the pre-listing trend . Management linked it to faster new-user addition, better repeat buying and denser neighbourhood networks that make services faster, cheaper and better .

Source: .

Consolidated Q2 FY27	Value	Change year on year
Net Transaction Value	Rs 1,432 crore	39% growth
Net revenue	Rs 537 crore	41% growth
Orders delivered	1.51 crore	103% growth
Annual transacting users	nearly 1 crore	35% growth
Adjusted EBITDA excluding InstaHelp	Rs 30 crore	213% growth

Adjusted EBITDA is the company-tracked operating profit measure. It shows two stories in one quarter. The core is profitable and expanding. InstaHelp is a deliberate investment that drives the consolidated loss .

Sources: Q3 FY26 — ; Q4 FY26 — ; Q1 FY27 — ; Q2 FY27 — .

Quarter	Consolidated Adjusted EBITDA	Excluding InstaHelp	InstaHelp adjusted EBITDA loss
Q3 FY26	loss of Rs 17 crore	profit of Rs 44 crore	loss of Rs 61 crore
Q4 FY26	loss of Rs 98 crore	profit of Rs 22 crore	loss of Rs 119 crore
Q1 FY27	loss of Rs 65 crore	profit of Rs 67 crore	loss of Rs 132 crore
Q2 FY27	loss of Rs 144 crore	profit of Rs 30 crore	loss of Rs 174 crore

Adjusted EBITDA excluding InstaHelp was Rs 119 crore over the past three quarters, up 175% year on year, growing several times faster than transaction value . Management said it is investing in InstaHelp by choice to cement leadership in a winner-takes-most category . It retained targets of Adjusted EBITDA breakeven by Q3 FY28 and Rs 1,000 crore of Adjusted EBITDA by FY31 .

Sources: Q4 FY26 — ; Q1 FY27 — ; Q2 FY27 — .

Quarter	Net Transaction Value	Net revenue
Q4 FY26	Rs 1,148 crore, up 42%	Rs 426 crore, up 43%
Q1 FY27	Rs 1,465 crore, up 42%	Rs 528 crore, up 44%
Q2 FY27	Rs 1,432.3 crore, up 39.1%	Rs 537.3 crore, up 41.4%

Full-year FY26 transaction value reached Rs 4,290 crore, up 33% year on year, after crossing 1 crore orders in a single quarter for the first time .

India services grew 26% and earned more per booking

India Consumer Services excluding InstaHelp is the core home-services business. It grew against a tougher base with the festive season falling entirely in Q3 .

Growth held up on a tougher base

Transaction value grew 26.3% year on year to Rs 963 crore in Q2 FY27 . The base was tougher because Q2 last year had grown 900 basis points faster than Q1 last year .

New users drove the quarter alongside repeat buying. Annual transacting users grew 22.4% to about 86.00 lakh, first-time users grew about 28% to about 7.60 lakh, and value per user rose 3.2% .

Denser networks lifted margins

Margin measured as Adjusted EBITDA as a share of transaction value improved to 3.5% from 2.4% a year ago . Management said Q1 and Q3 are seasonally stronger than Q2 and Q4, so margins are best read year on year .

Tier 2 cities grew transaction value about 37% year on year, outpacing the top 8 cities where penetration in the largest categories remains below 10% . Supply grew 16% against 26% transaction growth, with hiring done ahead of festive demand and utilisation expected to carry part of future growth .

Average in-hand earnings for active professionals reached Rs 30,708 per month in H1 FY27 for about 97 hours a month including transit time, up from Rs 27,950 in H1 FY26 .

Overseas business grew fastest and stayed profitable

International, largely the UAE and Singapore, is becoming a second growth engine while staying profitable .

Source: .

Q2 FY27 segment	Transaction value	Revenue and margin
International	Rs 267 crore, up 66%	Net revenue Rs 75 crore, up 82%; margin up to 2.0%
Saudi JV Yammak	Rs 93 crore, up 153%	Adjusted EBITDA loss narrowed to Rs 16 crore from Rs 20 crore a year ago
Native products	Rs 132 crore, up 35%	Net revenue Rs 105 crore, up 40%; adjusted EBITDA loss as a share of transaction value narrowed to 6.8% from 9.0% a year ago

UAE recovered and Singapore stayed profitable

The UAE recovered from disruption earlier in the year, and both UAE and Singapore delivered profitable growth . International margin improved 190 basis points year on year to 2.0% of transaction value .

Native held up before the festive quarter

Native sells water purifiers and smart locks. Growth came despite festive e-commerce sales shifting fully to Q3 . The company expects combined Q2 plus Q3 transaction growth of 50% to 55% year on year .

Premium M3 Pro purifiers lifted average selling prices 4.3% quarter on quarter, with filter attach rates holding at about 75% . That renewal behaviour builds recurring higher-margin revenue . Management said Native is within touching distance of profitability, with research spending forming the bulk of current losses . The board gave in-principle approval to explore home air conditioners under Native; commercial launch and related capital expenditure remain subject to further evaluation and specific board approval .

InstaHelp orders jumped 63% while bills fell

InstaHelp offers quick cleaning and small tasks in nearby micro-markets. It drove most order growth while average bill value fell on introductory pricing and competition .

Sources: Q3 FY26 — ; Q4 FY26 / Fulfilled orders — ; Q4 FY26 / Transaction value — ; Q4 FY26 / Adjusted EBITDA loss per order — ; Q1 FY27 — ; Q2 FY27 — .

Quarter	Fulfilled orders	Transaction value	Adjusted EBITDA loss per order
Q3 FY26	16.10 lakh	Rs 28 crore	about Rs 381
Q4 FY26	27.00 lakh	Rs 40 crore	about Rs 447
Q1 FY27	38.20 lakh	—	Rs 346
Q2 FY27	62.00 lakh	Rs 71 crore	Rs 279

Q1 FY27 reported segment revenue was Rs 11.22 crore . This is a different metric from transaction value and is shown separately.

Net order value, or average bill per InstaHelp order, fell to Rs 114 from Rs 138 . The quarterly adjusted EBITDA loss was Rs 174 crore after building supply ahead of festive demand, acquiring users and expanding micro-markets .

Unit economics improved with density. Adjusted EBITDA loss per order fell 19% quarter on quarter, from Rs 346 to Rs 279 . About 45% of all new users in micro-markets where InstaHelp runs alongside core now come through InstaHelp . Management sees steady-state pricing of about Rs 200 per hour and order value of about Rs 300 for a one-and-a-half hour order, to cover payouts plus other costs at scale, with breakeven as far out as FY31 .

Board cleared Rs 2,500 crore raise for flexibility

On October 16, 2026 the board approved raising up to Rs 2,500 crore in one or more parts through shares or instruments that convert into shares, via direct sale to chosen investors or sale to large institutions including a qualified institutional placement, or other allowed modes . No shares have been sold yet and terms are still to be fixed, with shareholder approval by special resolution through postal ballot plus any regulatory approvals still required .

The company closed Q2 FY27 with Rs 1,901 crore in cash and treasury investments, with a core that generated Rs 119 crore of Adjusted EBITDA over nine months . Management said the current balance sheet already funds the organic plan, while extra capital gives strategic cushion to invest across three scaled businesses, push harder in InstaHelp and look at selective acquisitions without trading one priority for another .

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