New tranche comes after transfer of ride-sharing and Eats business to Indian entity.
Uber has made a fresh capital infusion of Rs 1,767 crore into Uber India, its largest such tranche into its India business yet, according to filings from business intelligence platform paper.vc. The fresh infusion came from Uber International Holdings BV and Uber BV, the Netherlands entity of the ride-hailing company, on October 29.
The move comes just days after Uber transferred its Indian ride sharing and Uber Eats business to Indian entity Uber India System Pvt Ltd from the Netherlands entity.
The transfer of business had valued Uber's ride-sharing business in India at Rs 1,824 crore, while Uber Eats in India has been valued at Rs 714 crore, according to the valuation report of Uber's India business sourced from Tofler.
Uber India Systems was so far only providing marketing support services for Uber's ride and food delivery businesses. Uber India Systems itself was valued at Rs 576 crore.
As per data from paper.vc, Uber had earlier made infusion into India in only small tranches of less than Rs 100 crore, the last such in May 2017 of Rs 45 crore. It had infused Rs 124 crore in March 2015.
The valuation report of Uber India showed that it is forecast to see revenues for FY20 at Rs 1,034 cr, while operating expenses estimated at Rs 1,773 crore. However, by 2030, Uber India's ride business is forecast to make revenues of about Rs 17,400 crore for operating expenses of Rs 8,800 crore
Uber India Eats business is forecast to see revenues for FY20 at Rs 79 crore for operating expenses of Rs 1,390 crore. By 2030, Uber India Eats business is expected to make revenues of Rs 12,598 crore for expenses of Rs 5,678 crore.
In its Q3 results, Uber saw global losses top $1 billion, though substantially less than the $5 billion losses it had raked up in the previous quarter.
First Published: IST