Hala Mobility’s FY26 Revenue Jumps 4.4X To ₹97 Cr, Posts ₹3.6 Cr Profit

Hala Mobility posted operating revenue of ₹97 Cr in FY26, a 4.4X increase from ₹22 Cr in FY25, while its profit after tax (PAT) grew ninefold to ₹3.6 Cr from around ₹40 Lakh the prior year, per Inc42. The company also reported EBITDA of ₹27.16 Cr for the year, translating to an EBITDA margin of approximately 28%.

The revenue jump was driven primarily by rapid fleet expansion. Hala's fleet grew from 2,384 vehicles at the end of FY25 to roughly 8,100 at the end of FY26, and has since more than doubled to approximately 17,000 vehicles across nine cities including Hyderabad, Bengaluru, Mumbai, Vijayawada, Guntur, and Delhi NCR, Inc42 reports. Fleet uptime currently stands at 94%, with utilisation at around 88%. Business partners include Zomato, Swiggy, Zepto, Amazon, and Flipkart.

Founded in 2020 by Srikanth Reddy, Snehith Reddy Meda, and Anand Pareek, Hala provides electric two-wheelers to gig workers, delivery partners, and businesses through rental, leasing, and financing models. Around 50% of its revenue comes from third-party logistics (3PL) operations, 40% from rentals, and 10% from B2B leasing. The startup also operates a franchise model called Hala FOCO, currently structured as franchise-owned, company-operated (FOCO), with plans to gradually shift to a franchise-owned, franchise-operated (FOFO) model. Overall, the company has raised roughly ₹25 Cr in equity and ₹75 Cr through debt and other instruments to date, according to Inc42.

The company is now raising a ₹135 Cr Series A round entirely through equity, of which ₹45 Cr has already been committed by existing investors, founder and CEO Srikanth Reddy told Inc42. Reddy did not name a prospective lead investor but said discussions are ongoing and the round is expected to close within three to four months. Proceeds are earmarked for fleet expansion toward a longer-term target of 60,000 vehicles, entry into passenger mobility, and investment in the company's technology stack.

Hala competes with Zypp Electric, Yulu, and Bounce Infinity in India's last-mile EV fleet and delivery market, per Inc42. The startup claims to be India's third-largest EV-as-a-service platform; Reddy said the company aims to become the largest platform in the country by November 2026. It is exploring expansion into Pune, Chennai, Madurai, Tirupati, and Karnal, though plans call for entering only one or two new cities in the near term.

Looking ahead, Hala is targeting revenue of ₹250 Cr to ₹260 Cr in FY27, with PAT margin improving to 5%–6% from the current 3.7%, Reddy told Inc42. The company is also targeting a fleet of around 32,000 vehicles by the end of FY27, supported by a battery-swapping network in Hyderabad that has expanded to approximately 110 stations from 50 through a partnership with Sun Mobility.