Urban Company says InstaHelp may take up to five years to break even
Urban Company's on-demand housekeeping service InstaHelp may take up to five years to break even, with prices needing to rise from an average of Rs 138 to around Rs 300 per order.
InstaHelp completed 3.82 million orders in the June quarter, up 43% sequentially, but posted an adjusted operating loss of Rs 132 crore.
CEO Abhiraj Singh Bhal said the company expects trained InstaHelp professionals to earn Rs 130-160 an hour, with potential monthly earnings of Rs 20,000-22,000.
Urban Company estimates the on-demand housekeeping market could reach Rs 7,000-12,000 crore annually across India's top 15 cities.
The company's consolidated net loss for the quarter was Rs 92 crore, compared with a profit of nearly Rs 7 crore a year earlier.
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