upGrad Achieves Rs 2,000 Crore in Gross Revenue in FY26

upGrad has surpassed the Rs 2,000 crore milestone in gross revenue for FY26, showcasing a notable improvement in its financial performance, as reported in the company’s press release. Gross revenue rose by 7% year-on-year, reaching Rs 2,070 crore in FY26, including taxes. The total income, following Ind-AS accounting, was recorded at Rs 1,732 crore. Moreover, the company has a collected revenue of Rs 530 crore that will be recognised in subsequent years.

Financial Growth and Reduced Losses

upGrad’s Ind-AS EBITDA surged over eightfold, increasing to Rs 123 crore from just Rs 15 crore in FY25. The net loss diminished by 52%, bringing it down to Rs 130 crore during the fiscal year. This marked the third consecutive year in which the company’s losses have halved year-on-year, in contrast to a loss of Rs 1,142 crore in FY23.

Engaging Learners and Corporate Partnerships

The company reported having more than 100,000 active learners across its various platforms, including online skilling, degree courses, study abroad services, and offline skilling initiatives in FY26. Furthermore, upGrad Enterprise, its B2B division, collaborated with over 700 businesses for employee training, recruitment, and workforce development.

Emphasis on AI Integration

Artificial Intelligence has taken a prominent role in upGrad’s offerings, with over 80% of its programmes now incorporating AI into their curriculum. The company also highlighted a year-on-year decrease in marketing and technology expenses, facilitated by the integration of AI in its operations even amid revenue growth.

Expansion Plans Through Strategic Acquisitions

As upGrad seeks to broaden its reach, it is finalising the acquisition of both Unacademy and Internshala. The acquisition of Unacademy is anticipated to be one of upGrad’s most significant consolidation strategies. Startup Superb reported in July that this all-stock transaction was valued at approximately Rs 1,955 crore and is expected to conclude within three weeks.

This acquisition aims to merge upGrad’s higher education and skilling ventures with Unacademy’s test preparation, medical education, and creator-led educational platforms. The company has expressed plans to enhance growth opportunities across both Indian and global markets.