Urban Company service partners’ monthly earnings soar 17% in H2 CY2023
The average monthly net earnings of all Urban Company partners was Rs 24,845 in H2 CY2023, compared with Rs 21,218 earned in H2 CY2022.
(UC), a platform connecting users with home service providers, has disclosed that the average monthly net earnings of all UC service partners saw a 17% rise during the latter half of the calendar year 2023 (H2 CY2023) in comparison with the corresponding period in 2022.
According to the UC Partner Earnings Index H2 CY2023, the average monthly net earnings (after deducting all commissions, fees, travel, and product costs) of all UC partners was Rs 24,845 in H2 CY2023, compared with Rs 21,218 earned in H2 CY2022.
In H2 CY2023, UC service partners who completed more than 30 services per month—roughly equivalent to one service delivery per day—received an average monthly net earnings of Rs 33,469 (up 11%) against Rs 30,116 during the same period in 2022.
The top 20% of UC service partners earned average net earnings per month of Rs 42,792 (up 10%) compared with Rs 38,920 in H2 CY2022.
The latest UC Partner Earnings Index revealed a 23% higher average net hourly earnings for female partners compared with their male counterparts, with females earning Rs 363 and males Rs 294.
Moreover, as part of UC’s wealth creation initiative, it introduced the Partner Stock Option Plan (PSOP), with over 500 of its service partners having been awarded stock options to date, and 30% of PSOP recipients being women.
Image credit: Urban Company.
In 2023, over 1,900 service partners on the UC platform benefited from free life, accidental, and health insurance covers provided by the company, resulting in over Rs 5.51 crore disbursed as insurance claims during the year.
Besides, UC disbursed Rs 31.16 crore worth of loans, covering personal loans and service kit loans, to its service partners through third-party non-banking financial corporations in 2023.
A NCAER report published in August 2023 found that gig workers on food delivery platforms earn an average of Rs 13,581 monthly net of all costs after active long shifts. In comparison, UC service partners earn over 82% more.
Founded in November 2014, UC provides home services including beauty, spa, cleaning, plumbing, carpentry, appliance repair, and painting through its mobile app and website, operating in over 60 cities across India, the UAE, Singapore, and Saudi Arabia, with a partner network of more than 50,000 service professionals.
UC reported a 45% growth in revenue from operations on a consolidated basis year-on-year in FY 2023. The revenue from operations stood at Rs 637 crore—up from Rs 438 crore earned in the previous fiscal year.
Edited by Kanishk Singh