The company is planning to invest meaningfully over the next two to three years to develop a strong network of service professionals in its core markets
In an attempt to attract more users who are interested in instant deliveries of everything from groceries and gadgets, Urban Company is looking to intensify its efforts to strengthen its instant service offerings, Reuters reported.
The report noted that the company sees instant services as a fast-growing category, given the frequency and relevance to the average Indian middle-class household. Urban Company is looking at this model to act as a strong engagement driver, as it is planning to invest meaningfully over the next two to three years to develop a strong network of service professionals in its core markets.
However, the report also emphasised that the market potential for such quick services may be limited, adding that logistics management could prove to be a problem. Marking its entry into the rapidly growing quick commerce space, the company introduced a new service, allowing its users to book a househelp in 15 minutes.
Ranging from day-to-day household chores like utensil cleaning to brooming, mopping and cooking, the new service enables the users to get access to these services and is paid on an hourly basis. Offering at-home services like haircuts, massages, appliance repair, beauty treatment, Urban Company operates in 60 cities across India, Australia, Singapore and United Arab Emirates (UAE), as per the reports. As far as the financial performance is concerned, the reports highlighted that the company narrowed its net loss to Rs 93 crore in 2023-24 from Rs 312 crore in the previous financial year.
