Udaan eyes listing by early 2028
By Abha Lohia ·
Udaan: revenue, valuation and funding and every story →
- Udaan is a Bengaluru business-to-business commerce platform that supplies groceries and staples to small shopkeepers across India
- Chief executive Vaibhav Gupta expects full profitability by end-2027 and a stock market listing around then or in early 2028, as losses shrink about 20%…
- The firm shrank from roughly 80 cities to about 16 clusters, and revenue is now projected to rise 10-12% for FY26
What happened
- Udaan expects FY26 revenue to grow 10-12%.
- Losses are set to narrow about 20%.
- It targets full profitability by end-2027.
- A listing is planned for end-2027 or Q1 2028.
- Bengaluru and other big clusters already make an operating profit.
Why it matters
- The firm cut its footprint on purpose to fix unit economics.
- Revenue had fallen by over half from its peak, and investors had cut their valuations.
- A listing has been promised for five years, so the date matters to backers.
The business
- Sells groceries, staples and fast-moving goods to shopkeepers
- Cut from about 80 cities to about 16 clusters
- Focus on wallet share and purchase frequency
The founders
In numbers
about 25%Revenue CAGR Q4 CY23 to Q1 CY26 · 2026
about 70%Operating cash burn drop · 2026
What happens next
- Profitability by end-2027
- Listing by end-2027 or Q1 2028
Terms in this story
- Profitability: A startup reaches profitability when its revenue grows faster than its costs until income covers every expense. The usual path runs through positive unit economics, then positive contribution margin, then break-even EBITDA, and finally profit after tax.
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