Hala Mobility, a rapidly growing electric mobility startup in India, reported a 4.4-fold jump in operating revenue to ₹97 crore in fiscal year 2026, alongside a ninefold increase in profit after tax to ₹3.6 crore, reflecting a major milestone in its aggressive fleet deployment and market expansion.
- FY26 revenue surged 4.4X to ₹97 crore; profit rose ninefold to ₹3.6 crore
- Fleet expanded from 2,384 to 17,000 vehicles across nine cities
- Targets ₹250–260 crore revenue and 32,000-vehicle fleet by FY27
What happened
Hala Mobility's operating revenue in FY26 soared to ₹97 crore from ₹22 crore the previous year, accompanied by a significant increase in profit after tax to ₹3.6 crore from ₹40 lakh. This marks a pivotal financial turnaround for the electric two-wheeler rental and leasing startup, which has steadily overcome early challenges related to supply chain, technology, and infrastructure.
The company’s fleet expanded explosively from 2,384 vehicles at the end of FY25 to approximately 17,000 as of FY26, operating across nine major Indian cities including Hyderabad, Bengaluru, Mumbai, and Delhi NCR. Hala Mobility’s diverse revenue sources—including 3PL services, rentals, and B2B leasing—have contributed to this rapid scale, with notable clients such as Zomato, Swiggy, and Flipkart.
Why it matters
Hala Mobility’s strong growth trajectory underscores a maturing market for electric vehicle-as-a-service (EVaaS) platforms within India's gig economy and logistics sectors. By targeting gig workers and delivery partners through flexible rental and financing models, the startup addresses affordability and accessibility barriers for electric mobility adoption.
The expansion unleashes greater operational efficiencies via a franchise-owned, company-operated (FOCO) model that is transitioning toward a franchise-owned, franchise-operated (FOFO) structure. This approach enables rapid vehicle deployment while managing operational complexities, allowing Hala Mobility to claim the position of India’s third-largest EV-as-a-service platform with ambitions to become the leader by late 2026.
What to watch next
For FY27, Hala Mobility forecasts revenue in the range of ₹250 to ₹260 crore, with improved profit margins between 5% and 6%. It plans to nearly double its fleet size again to approximately 32,000 vehicles, focusing on measured geographic expansion by entering one or two new cities in the near future such as Pune and Chennai.
Key operational metrics like fleet uptime (currently 94%), utilization (88%), and customer churn (28%) will be critical indicators of sustained growth and customer retention. Additionally, the company’s vehicle refurbishment strategy stands as a notable lever for reducing capital intensity and extending asset life, which could further enhance profitability and scale in the Indian EV mobility ecosystem.