Urban Company, India’s leading home-services provider, is intensifying its focus on delivering services within an hour, aiming to cater to the growing demand for instant solutions in a market accustomed to rapid deliveries of groceries and gadgets. This strategic shift comes on the heels of the company’s successful IPO, which marked one of the most anticipated stock market debuts of the year. Traditionally known for allowing customers to schedule services like facials and faucet repairs, Urban Company is now emphasizing speed with its new ‘Insta Help’ service, enabling users to book domestic workers in just 15 minutes. CEO Abhiraj Singh Bhal highlighted the significance of instant services, stating that they could create a sustainable competitive advantage and drive customer engagement. As of June 30, the company boasted 7.02 million annual transacting customers. Urban Company plans to invest heavily over the next two to three years to build a dense network of service professionals in its core markets, though this may pressure profit margins. The company faces competition from startups like Pronto and Snabbit, which promise services in as little as 10 minutes. Analysts note that while the market potential for instant services is significant, logistical challenges and operational complexities could hinder growth. Despite these hurdles, Urban Company’s online on-demand services market is projected to grow at a compound annual growth rate of 22.4% from 2023 to 2030.
