Snabbit Spent ₹16 To Earn Every Rupee In Operating Revenue In FY26

Home services startup Snabbit incurred a net loss of ₹167.8 crore for the financial year ended March 31, 2026 (FY26), a significant increase from ₹5.7 crore in the previous year. The company's operating revenue stood at ₹12.2 crore, while total expenses reached ₹194.8 crore. This indicates that for every rupee of operating revenue earned, Snabbit spent ₹16. During its first full year of operations, Snabbit's largest expense categories were expert services cost at ₹63.1 crore and marketing expenses at ₹48.7 crore.

Snabbit founder and CEO Aayush Agarwal attributed the substantial losses to strategic investments in customer acquisition, workforce training, technology, and geographical expansion within the competitive quick home services market. The startup managed to increase its daily job run rate to 35,000 by the end of the fiscal year, acquiring nearly 1 million customers and onboarding over 20,000 service professionals. The company held approximately ₹319 crore in cash and investments without any borrowings at the close of the fiscal year.

Competition in the quick home services segment is intense. Snabbit competes with players like Pronto and Urban Company's InstaHelp. Despite rapid market growth, competitors are also grappling with profitability challenges. Urban Company reported an EBITDA loss for InstaHelp of ₹174 crore in its Q2 FY27. Industry challenges include fierce competition, deep discounting, and rising operational costs.

Snabbit's strategy focuses on deep penetration within a few cities and micro-markets, rather than aggressive geographical expansion. The company suggests its financial statements do not fully reflect the business's underlying economics or maturity, as it has deliberately invested for future growth. Snabbit also claims that its loss per job has significantly decreased, falling below ₹200 by September 2026.