E-Commerce/App based Aggregator
E-Commerce - Platform - Utility
from 159 today
We initiate coverage on Urban Company (UC) with BUY and DCF-based SOTP TP of Rs190, driven by its leadership in India's online home services market, expanding micro-market density, and strong growth runway.
We initiate on Urban Company with a Buy rating and Rs180 price target, representing 22% upside from current levels, as India's online home services market enters its Blinkit moment.
Core marketplace momentum remains intact with improving growth and margins, while InstaHelp TAM is now better defined though profitability still hinges on pricing normalization.
Urban Company delivered robust growth and profitability trends across core India Consumer Services, International and Native businesses, though InstaHelp dragged consolidated profitability with expanding losses. We continue to await better entry levels amidst near-term sustainability challenges in InstaHelp and maintain REDUCE on UC with an unchanged SoTP-based Jun’27 TP of INR 135.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
