Now Reading: Hala Mobility revenue jumps 4.4x to Rs 97 crore in FY26
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Hala Mobility revenue jumps 4.4x to Rs 97 crore in FY26
Electric mobility startup Hala Mobility posted an operating revenue of Rs 97 crore in FY26, a 4.4 times jump from Rs 22 crore in FY25. Profit after tax rose ninefold to Rs…
Electric mobility startup Hala Mobility posted an operating revenue of Rs 97 crore in FY26, a 4.4 times jump from Rs 22 crore in FY25. Profit after tax rose ninefold to Rs 3.6 crore from around Rs 40 lakh. The startup expects revenue of Rs 250-260 crore in FY27, with PAT margin improving to 5-6% from 3.7%.
Founded in 2020, Hala provides electric two-wheelers to gig workers and delivery partners via rental, leasing and financing. It operates about 17,000 vehicles across nine cities including Hyderabad, Bengaluru, Mumbai and Delhi NCR. Partners include Zomato, Swiggy, Zepto, Amazon and Flipkart. Around 50% of revenue comes from third-party logistics, 40% from rentals and 10% from B2B leasing.
The startup aims to become India's largest EV-as-a-service platform by November 2026. Its fleet has grown from 2,384 vehicles at the end of FY25 to about 17,000 now, with a target of 32,000 by the end of FY27. Hala is also exploring expansion into Pune, Chennai and other cities.
Indian Opinion Analysis
Hala Mobility's jump from a fleet of 2,384 to 17,000 vehicles in two years shows that the early-stage constraint was proving its model to financiers, not demand. The refurbishment and redeployment of vehicles after their first financing cycle appears to have unlocked lender confidence, a hurdle that many small EV fleet operators face because NBFCs and banks typically ask for a track record before funding. With utilisation at 88% and churn at 28%, the next metric to watch is whether the company can hold utilisation as it doubles its fleet again to 32,000 by the end of FY27, a test that will determine if it can indeed hit the Rs 250 crore revenue target.
Source: inc42.com
This brief was synthesised by AI from the source linked above.
