upGrad crosses Rs 2,000 Cr gross revenue in FY26; EBITDA jumps 8X

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Edtech major upGrad crossed the Rs 2,000 crore mark in gross revenue in FY26, while its bottom line improved sharply during the year amid continued cost control measures, as per the company's press release.
According to upGrad, gross revenue grew 7% year-on-year to Rs 2,070 crore in FY26, including taxes. Its total income stood at Rs 1,732 crore after Ind-AS accounting. The company also has Rs 530 crore in collected revenue that is yet to be recognised in future years.
upGrad’s Ind-AS EBITDA jumped more than eight times to Rs 123 crore from Rs 15 crore in FY25. Its net loss also narrowed 52% to Rs 130 crore during the year. The company said this is the third consecutive year in which its losses have more than halved year-on-year. The loss stood at Rs 1,142 crore in FY23.
The company said it had more than 100,000 concurrent learners across its online skilling, degree, study abroad and offline skilling businesses in FY26. Its B2B arm, upGrad Enterprise, also worked with more than 700 enterprises for employee skilling, recruitment and workforce development.
AI has also become a major part of the business, with the company saying that more than 80% of its programmes now include AI in their curriculum. It also said marketing and technology costs declined year-on-year despite revenue growth, helped by its use of AI in operations.
The improved bottom line comes as upGrad looks to expand its scale through acquisitions. The company said it is closing the acquisition of Unacademy and Internshala.
The Unacademy deal is expected to be one of upGrad’s biggest consolidation moves. Entrackr had reported in July that the all-stock transaction was valued at around Rs 1,955 crore and was expected to close within three weeks.
With the acquisition, upGrad aims to bring together its higher education and skilling business with Unacademy’s test preparation, medical education and creator-led learning platforms. The company said it now plans to focus on growth across India and global markets.

document fetched 2026-08-18 06:37