Hala Mobility Revenue Rises 4.4X As EV Fleet Expands
Inc42 reports that Hala Mobility’s FY26 operating revenue rose to ₹97 crore as its EV fleet expanded to 8,100 vehicles by year-end and about 17,000 vehicles after FY26.
Hala Mobility's FY26 revenue rose 4.4 times to ₹97 crore as the Indian electric-mobility startup expanded its fleet and turned a small profit, Inc42 reported in an interview with founder and CEO Srikanth Reddy.
The company moved from ₹22 crore in operating revenue in FY25 to ₹97 crore in FY26.
Profit after tax increased ninefold to ₹3.6 crore, and EBITDA reached about ₹27.16 crore, giving Hala an EBITDA margin of around 28%.
Fleet deployment carried most of that change.
Hala ended FY25 with 2,384 vehicles, reached about 8,100 vehicles by the end of FY26 and now operates around 17,000 vehicles across nine cities including Hyderabad, Bengaluru, Mumbai, Vijayawada, Guntur and Delhi NCR.
The company is targeting 32,000 vehicles by the end of FY27, with near-term expansion under review in Pune, Chennai, Madurai, Tirupati and Karnal.
Reddy told Inc42 that Hala expects FY27 revenue of ₹250 crore to ₹260 crore and a profit-after-tax margin of 5% to 6%, up from about 3.7% in FY26.
The operating mix remains split across third-party logistics, rentals and B2B leasing: 3PL accounts for about half of revenue, rentals for roughly 40% and B2B leasing for the remaining 10%.
Hala supplies electric two-wheelers to gig workers, delivery partners and businesses through rental, leasing and financing models.
Its platform works with Zomato, Swiggy, Zepto, Amazon and Flipkart, while individual users can take daily rentals starting at ₹189 or quarterly leases starting at ₹13,999.
The vehicle portfolio includes models from Ryder, AMO Electric Bikes, Astrid and BGauss with ranges of up to 100 kilometres.
The expansion path depends partly on refurbishing vehicles after their first financing or operating cycle.
Redeployed vehicles helped the startup show lenders that assets could remain commercially useful beyond the initial period, easing one of the financing constraints that limited early fleet growth.
Hala now owns about 60% of its fleet, with the rest leased or operated through franchise partners.
Infrastructure is scaling with the fleet.
A partnership with Sun Mobility has increased Hala's battery-swapping network in Hyderabad to about 110 stations from 50 earlier, and current fleet uptime stands at 94% while utilisation is around 88%.
Customer churn is 28%.
The next capital step is a planned ₹135 crore Series A equity round.
Existing investors have committed ₹45 crore, discussions with a prospective lead investor are under way, and Hala expects the round to close within three to four months.
The company plans to use the capital to expand beyond its FY27 fleet target toward about 60,000 vehicles, enter adjacent passenger-mobility areas and commercialise more of its technology stack.
