This article has been contributed byRaahil Dhruva, founder of Marcos Quay Sporting Excellence
Sports teach cultural intelligence in an effective manner. Children learn on the field far more than sport strategy or skills. They learn about empathy, resilience, cooperation, and respect for difference. These competencies set them up to succeed in the global world we live in, where cultural awareness is just as critical as knowledge. Schools and educators committing to providing structured physical education create environments where children evolve into collaborators and adaptable individuals. Since 2012, Marcos Quay has been working with schools to improve this underpinning of fitness and learning. The impetus for the project and program development, Raahil Dhruva, Director of Marcos Quay is committed to getting health, discipline, and inclusivity into education to teach generations of well-rounded individuals with cultural awareness.
Sports as a Universal Language Beyond Words
For children, sports can be like a universal language. On the playground or school yard, words are not as important as the passes, huddles or cheers after a goal or wicket. All of these spontaneous joyful acts create connections between children from diverse backgrounds, developing their empathy, cooperation and respect without a word spoken. At the school aged level, sports provide young learners opportunities to understand body language, intent and teamwork in ways that can’t be replicated in a classroom. Play being a language is a core belief, not only demonstrated in our grassroots academy programs, but through our scientifically designed curriculum led by accredited and certified coaching. We continue to nurture both grassroots training and character development, supporting the mission of developing fit, kind and culturally aware learners whilst creating pathways for tomorrow’s sports stars.
Conflict Resolution Through Rule Negotiation
Disagreement is part of being on the sports field. Was that a foul? Did the ball go out? In these small moments, children will listen, explain their case and come to a fair solution together. Negotiating the rules of the game or clarifying a miscommunication between players allows children to practice empathy, patience, and true respect for differences. At the school level, this fosters confidence in resolving on-going issues that arise in everyday life whether it is with teammates, classmates, or their friends outside of school. Sports became a space for children to be modelled for teamwork, discipline, and resilience. More than just winning and losing, youth sports is about demonstrating how to resolve differences with fairness and mutual understanding, lessons that foster stronger bonds for relationships both in the classroom and in a different social milieu.
Humility in Losing, Grace in Winning Across Cultures
At an early age, sports offer lessons that cannot be found in a classroom. On a playground or in a school tournament, children soon learn that winning and losing is part of the game. What matters is how you respond, learning to be humble in the situation of losing and to be gracious in winning. A child who applauds a teammate upon scoring a goal, or shakes an opponent’s hand after a challenging match demonstrates empathy, resilience and respect. These values reinforce friendships and help prepare for challenges beyond school and sport.
Team Rituals as Cultural Bridges
Sports are more than physical activity for kids; they are a springboard for teamwork, discipline, and fun. The little habits we create, like pre-game huddles, high-fives, and chants, make young players feel secure and a part of something. These habits create vulnerability and trust while fostering respect which is a life skill. Through sports, children learn how to harness their feelings. They develop resilience, empathy, and confidence, all skills that they take back to the classroom and beyond. Sports at a young age also help students stay active together, teach the value of fair play, and allow the players to experience all outcomes together.
The sports field often marks an environment for children where differences disappear and ability is celebrated. On the playing surface, it makes no difference where a child comes from, only the effort, the team, and their persisting ability counts. A girl surprises everyone by playing superbly well at football, or a student who is quieter and less outspoken, leading to victory. These circumstances share a common bond; the sport challenges stereotypes easily and inherently. These experiences create an early sense of confidence and belonging; a level of respect for one other without defined labels. At an age where playing together means so much more than simply playing together, children learn about empathy, discipline, and achieving set objectives. The joy of both winning and losing, as well as the sheer joy of practice, creates learnings that last a lifetime. This is another stage in growing up and being part of being more than a game, and an inclusive space where confidence flourishes and stereotypes fade away.
Time Orientation in Sports
For kids, sports can bring some of the best lessons in how to use time and value it. Cricket, as a long-format game, is a test of patience, focus, and commitment over long hours. Formats such as T20, demonstrate the importance of fast thinking and good decision-making under pressure. Traditional Indian games like kabaddi teach instantaneous reflexes and reactions in a very short period of time while football promotes stamina, flow, and sustainment across the full duration of play. Collectively, through these experiences, children learn both the value of topics such as when to stop, when to speed up, and when to continue. The lessons learned extend beyond just play, enabling students to develop flexibility, discipline and timing that further bolster their academic and personal growth.
Role of Gender in Sports Across Cultures
Sports can provide school children with great opportunities to learn the value of a number of life lessons. Long forms of the game such as Cricket can talk to patience and commitment, compared to rapid games like T20 or Kabaddi that can strengthen reflexes, decision making, and mind processing under pressure. Football can stretch stamina and concentration; and timed drills in performance physical education can denote or identify discipline and vigilance. Altogether, they will help children understand how to identify when they should slow down, when they should respond immediately, and keep calm when they don’t need to rush, and help create adaptable frameworks and resilience.
Sport can also change how children perceive a range of views surrounding gender. When girls and boys are competing in the same context on the field, children will see ability absent of stereotypes. Whether that is leadership, commitment, or teamwork, sport tells our students that ranging forms of talent, commitment, and discipline has no gender. Challenging children to accept inclusive practices at a young age helps them to develop into more empathetic, confident, and respectful individuals both on and off the field in relation to equality.
Sports help students connect across cultures and understand each other better. They build teamwork, respect, and openness in a natural way. These experiences prepare young people for a globalized world. In this sense, sports truly strengthen cultural intelligence.
Baiju Bhatt’s rise isn’t the usual billionaire tale you hear. He is best known as the co-founder of Robinhood, and joins the 2025 Forbes 400 as one of the 10 youngest U.S. billionaires. His achievements put him in the same league as other young billionaires, including Mark Zuckerberg (41) and Luke Walton (38).
In 2013, alongside Vlad Tenev, he launched Robinhood with a simple but disruptive idea: to let ordinary people trade stocks without paying steep brokerage fees. What looked risky at first soon turned the investing world upside down. Millions of new investors rushed in, and even Wall Street’s biggest players had to adapt.
As of 2025, Bhatt’s wealth is pegged between US$6 and 6.9 billion, a figure that puts him on the list of the youngest billionaires of Indian origin. His story is less about chasing wealth and more about changing how ordinary people interact with money, and where the next big disruption might come from.
Baiju Bhatt – Biography
Name
Baiju Prafulkumar Bhatt
Born
1985
Nationality
American (of Indian origin)
Profession
Entrepreneur, Fintech Innovator, Investor
Education
Studied B.S. in Physics and M.S. in Mathematics from Stanford University
Baiju Bhatt was born to Gujarati immigrants who moved to the U.S. after his father was accepted into a PhD program at the University of Huntsville in Alabama. He grew up in the small town of Poquoson, Virginia, and followed in his father’s academic footsteps by studying physics at Stanford University, later completing a master’s degree in mathematics in 2008.
His story reflects the reality and determination often tied to the immigrant pursuit of the American dream. But the road wasn’t easy. In several interviews, Bhatt has spoken about his family’s financial struggles, especially after his father was diagnosed with kidney failure. At just five years old, Baiju watched his father abandon his PhD to manage the mounting costs of treatment.
As an only child, Bhatt often felt helpless watching his parents battle both health and financial pressures. Yet, these early challenges became Bhatt’s motivation. He turned setbacks into fuel, eventually co-founding Robinhood and building a fortune that has made him one of the youngest U.S. billionaires of Indian origin.
Baiju Bhatt – Career Journey
During his years at Stanford, Baiju Bhatt crossed paths with Vlad Tenev, a meeting that would eventually build both their futures. Sharing an interest in finance and technology, the two teamed up and, in 2013, launched Robinhood, an app built on a simple but bold promise: to make investing accessible to everyone by eliminating the heavy commission fees that kept many first-time investors out of the market.
What started as a disruptive idea soon turned into a movement. Robinhood gained massive traction, particularly during the pandemic, when millions of new investors flocked to the platform in search of opportunities.
At first, Bhatt poured his efforts into design and product development. He would ask fellow students for feedback, making sure Robinhood felt simple and user-friendly. That attention to users helped the app stand out, and in 2015, it earned the Apple Design Award.
Bhatt initially led the company as co-CEO until 2020, before moving into the role of Chief Creative Officer. In 2024, he stepped back from his executive duties, but his connection to Robinhood remains strong. He still serves on the board and holds a 6% stake in the company, a share that Forbes estimates to be worth around $6 billion.
Robinhood itself has continued to thrive. In 2024, it reported $3 billion in revenue, fueled by a surge in cryptocurrency trading and new offerings such as retirement accounts and high-yield savings products. Over the past year, its stock price has skyrocketed by 400%, cementing its reputation as one of the fastest-growing fintech companies in the world.
Robinhood and Bhatt’s Stake
Robinhood made its public debut in 2021 with a blockbuster $32 billion valuation. Baiju Bhatt, who still holds roughly 6% of the company, has remained closely tied to its journey. Though he stepped back from executive duties in 2024, after earlier serving as co-CEO and later as chief creative officer, he continues to play a key role on Robinhood’s board.
Baiju Bhatt – Founding Aetherflux and Space Energy
Baiju Bhatt’s ambitions stretch far beyond fintech. In October 2024, he launched Aetherflux, a space-based solar energy startup designed to harvest solar power from satellites and beam it down to underserved regions on Earth. The idea is as bold as it is futuristic, tapping the limitless energy of space to solve global energy challenges.
His passion for space innovation doesn’t end there. Bhatt has also backed several private space ventures, including Reflect Orbit and Apex, reinforcing his vision of combining energy and technology to build solutions on a planetary scale.
Baiju Bhatt – Rising Above Hardship
Bhatt has often shared stories of his family’s financial struggles. In a conversation with Shawn Ryan, he recalled how everything changed when his father was diagnosed with kidney failure at the time Bhatt was just five. “He had to give up his PhD and start working to cover the medical bills,” Bhatt said.
With a tight budget, even visiting India became impossible; the family’s last trip was back in 1997. As an only child, Bhatt described feeling powerless, especially as his father’s health declined.
Yet, those difficult years built his resilience. What began as the journey of a boy weighed down by challenges eventually turned into the rise of one of America’s youngest billionaires, and the creation of Robinhood, a trading platform now known around the world.
Baiju Bhatt is the co-founder of Robinhood, a popular stock trading platform that revolutionized investing by offering commission-free trading. He is also one of the youngest U.S. billionaires of Indian origin.
Where was Baiju Bhatt born and what is his nationality?
Baiju Bhatt was born in 1985 to Gujarati immigrant parents in the United States. He is an American of Indian origin.
What is Baiju Bhatt’s educational background?
Baiju Bhatt studied Physics (B.S.) and Mathematics (M.S.) at Stanford University, graduating in 2008. His time at Stanford was also when he met Vlad Tenev, his future Robinhood co-founder.
The US Fed has cut interest rates to 0.25%. This move can have an effect on the Indian Stock Market. However, it may not have that much of a significant impact on India as of now. But since Powell pointed to more cuts, there can be bigger changes. Changes such as more investors willing to take risks, dollars flowing into India, and IT seeing gains. Having said all that, the main drivers are still India’s own reforms and the possible trade deal with the US. Here’s about the US Federal Reserve rate cut (on September 17). Learn more.
What Did the US Fed Do?
The US Federal Reserve (Fed) cut its benchmark interest rate by 25 basis points (bps) on September 17, 2025. Here’s a simple breakdown:
1 basis point = 0.01%
So, 25 bps = 0.25%
The previous rate was 4.25%.
The new rate is 4%.
This decision has come to light after the Federal Open Market Committee’s 11:1 vote.
Why Did the US Fed Cut Rates?
The US economy in recent times has shown uncertainty and stress, especially in the job market. Inflation is evident but not prominent or uncontrollable at the moment. So the Fed thought it was the best time to cut down a little to prevent any bigger damage later. They called it the “risk management cut.”
What Did Powell (Fed Chair) Say?
Notably, the Fed didn’t decide on a preset path. It seems like they will decide later, based on new data. However, he hinted that the Fed will come up with more cuts in the near future, and called it a “dovish” signal.
Here are the projections:
End of 2025: rate could be around 3.6%
End of 2026: 3.4%
End of 2027: 3.1%
(Well, this is 25 bps lower than earlier estimates back in June.)
“The median participant projects that the appropriate level of the federal funds rate will be 3.6 per cent at the end of this year, 3.4 per cent at the end of 2026, and 3.1 per cent at the end of 2027. This path is 1/4 percentage point (25 bps) lower than projected in June,” said Fed Chair Jerome Powell.
Immediate Effect in the US
The Dow Jones (stock market index in the US) jumped to 500 points, later slipped, and then rose.
Its volatility at the moment (meaning up-and-down movement).
As the cut was expected, the market didn’t react much.
How Does This Affect India?
A 25 bps alone will not affect the Indian market, as the investors already price it in. Since Powell pointed out more cuts, these will likely happen:
Enhance the global risk appetite so investors will take risks.
The returns on US bonds will likely go down.
The cuts will weaken the US dollar, and more money will flow into emerging markets like India.
If these cuts happen, India will see better foreign investments.
Which Indian Sectors/Stocks Could React?
Especially the IT companies like TCS, Infosys, HCL Tech, as they earn in dollars. If the cuts happen and the dollar weakens, their revenues will also be affected.
Next, the Banks and financials like HDFC Bank, Kotak, SBI, Bajaj Finance, M&M Finance, and PFC will see a positive impact as the foreign inflows can boost them.
What Experts Say?
“The Fed indicated and the market expects two more rate cuts this year. However, the expected and discounted rate cut didn’t trigger any reaction in the market. The Fed rate decision is unlikely to impact the Indian market,” said Vijayakumar, Chief Investment Strategist at Geojit Investments.
“Should the Fed go for one or two additional reductions this year, global risk sentiment may improve — lifting equities, including Indian markets, while easing bond yields and pressuring the dollar,” said Ajit Mishra, SVP of research at Religare Broking.
“A 25 bps rate cut won’t boost the Indian stock market as it is largely discounted. A cumulative 50 bps or even bigger cut will be a positive for the Indian market,” said G. Chokkalingam, founder and head of research at Equinomics Research Private Limited.
Technological growth and affordable equipment have devised a new scheme of learning in this modern world. They have refreshed our education system and made learning easy, simple, and interesting. This change in the system seems so quick that, shortly, students might no longer carry books and will have the option to learn from anywhere, anytime.
The shift toward digital education has boosted the process of upgrading learning methods. Following this shift, many EdTech startups have been started in the past couple of years. With perfect execution and quality content, these startups have a bright and secure future.
Physics Wallah (PW) is one of the many startups that flourished during this transition. The passion for teaching has pushed the founder to start a YouTube channel that has today become the 101st Unicorn of India. The story of Physics Wallah and its founder, Alakh Pandey, is very inspiring. The valuation of Physics Wallah as of December 2024 is $2.8 billion.
The below article portrays Physics Wallah’s success story, its founders, its history, its journey to becoming one of the top edtech startups in India, its growth, funding, business model, IPO, revenue, challenges, and how it turned into a unicorn despite the challenges.
Physics Wallah is an EdTech startupfounded in 2014 by Alakh Pandey. It is an e-learning platform that offers quality learning experiences at an affordable cost. This startup provides lectures and solutions on various subjects for students between classes 6 and 12, including JEE, NEET, and various other entrance exams. Physics Wallah presents both live and scheduled lectures, along with doubt-solving sessions and structured materials, and helps students evaluate themselves through tests.
Started as a YouTube channel, Physics Wallah, as of today, has mentored over 6 million students and has over 13,700 video lectures on its platform. Offering both free and paid batches, Physics Wallah has gained the reputation of lakhs of students through experienced and quality coaching.
Physics Wallah – Industry
The Physics Wallah belongs to the EdTech industry. The EdTech industry’s growth in India can be narrowed down to the past decade. Their growth has been too rapid in recent years. Statistics reveal that between 2014 and 2019, around 4,450 EdTech startups have sproutedin the country. The current size of the EdTech market was valued at $5.13 billion in 2023. The market is expected to grow at a CAGR of more than 19% during 2023-2028.
The funding and other investments in these startups have increased 32 times in the past decade. The EdTech industry will replace offline learning in the long run. But experts and VCs say that, for a decade or at least two, the omnichannel way of learning (both online and offline) will hold the crown.
Physics Wallah – Founders and Team
Alakh Pandey and Prateek Maheshwari are the founders of Physics Wallah.
Alakh Pandey
Alakh Pandey – Physics Wallah Founder and CEO
Alakh Pandey is the founder and CEO of Physics Wallah. He was born on October 2, 1991, in Prayagraj, Uttar Pradesh. Pandey has always had a love for teaching since his school days. He wanted to be an IITian but couldn’t clear his entrance exam. Pandey was also a college dropout and started his career as a physics teacher at a coaching institute. He wanted to give the best learning experience to students at an affordable cost.
Prateek Maheshwari is the co-founder of Physics Wallah. He graduated with a bachelor’s in technology from IIT Varanasi. Before joining hands with Alakh Pandey for PW, Prateek Maheshwari was a founder at NightPanda, Moon2Noon, PenPencil,, and Edu4All. His experience as a founder proved to be a great pillar of support for Physics Wallah.
Physics Wallah – Startup Story
After dropping out of college, Alakh Pandey’s love for teaching pulled him toward a coaching institute in Allahabad. There, he groomed himself as a teacher. His style of teaching received a huge reception, and the physics he taught was loved by everyone. So, with the idea of reaching more students, Alakh Pandey started a YouTube channel named ‘Physics Wallah’ in 2016. This is where the seed for PW was sown and the startup started to germinate.
Physics Wallah’s vision is to provide “education for all, regardless of their socio-economic status.” The company wants to provide affordable education for all students. It believes that education has the power to change anything and everything. This is the motto with which Physics Wallah is marching forward.
Physics Wallah – Name and Logo
Physics Wallah Logo
Alakh Pandey’s popular physics classes were the reason for the name ‘Physics Wallah’. He named his YouTube channel after the said reason in 2016. Later, ‘Physics Wallah’ became his brand identity and stayed as the name of the startup.
Physics Wallah – Business and Revenue Model
Physics Wallah’s business is to offer lectures and train students in various classes, either online, offline, or both. It also provides coaching for national-level entrance exams for students.
Paid Courses and subscriptions
Physics Wallah makes revenue from top-rated courses and subscriptions from university students who have subscribed to individualized learning experiences.
YouTube Ads
Physics Wallah makes revenue from YouTube ads.
Advertisement Revenue
Through the use of advertisements on its platform, Physics Wallah makes money.
Products Sales
To make extra money and advertise their business among students, Physics Wallah promotes branded items like T-shirts, sweatshirts, and accessories.
Established in 2014, Physics Wallah was bootstrapped until 2022 after its inception as a YouTube channel. Alakh Pandey used his revenue from YouTube to register the company and develop the PW app in 2020.
Physics Wallah (PW) secured $210 million in a Series B funding round on 20 September 2024, led by Hornbill Capital, along with Lightspeed Venture Partners, GSV, and WestBridge. This new investment increased PW’s post-money valuation to $2.8 billion, marking a 2.5X surge from its previous $1.1 billion valuation when it raised $100 million in its Series A round.
The startup went through Series A funding on June 7, 2022, and received $100 million from Westbridge Capital and GSV Ventures. This maiden funding round made Physics Wallah a unicorn, and its valuation reached $1.1 billion post-funding.
Date
Stage
Amount
Investors
September 2024
Series B
$210 million
Hornbill Capital, Lightspeed Venture Partners, Westbridge Capital and GSV Ventures
June 2022
Series A
$100 million
Westbridge Capital and GSV Ventures
Physics Wallah – Shareholding
Here is Physics Wallah’s shareholding pattern as of Dec 2024, sourced from Tracxn:
Name
Pre Round Holding %
Post Round Holding %
Increase in Share Capital
Post-Round Cumulative Investment
Shares Bought/Allocated
Post-Round Total #Shares
Alakh Pandey
38.7%
38.6%
–
–
–
30,000,000
Prateek Maheshwari
38.7%
38.6%
–
–
–
30,000,000
WestBridge Capital
6.5%
6.5%
–
601.6Cr
–
5,015,785
Hornbill Capital
2.9%
2.9%
–
671.4Cr
–
2,213,836
GSV Ventures
2.1%
2.1%
–
194.4Cr
–
1,666,667
Lightspeed Venture Partners
1.8%
1.8%
–
419.7Cr
–
1,383,648
Setu Aif Trust
0.7%
0.7%
–
171.5Cr
–
565,347
Other People
0.2%
0.3%
30.7Cr
–
101,200
247,206
Vivek Gaur
–
< 0.1%
15Cr
–
49,587
49,587
Manish Sharma
–
< 0.1%
13.3Cr
–
43,794
43,794
Anurag Pareek
–
< 0.1%
2.4Cr
–
7,819
7,819
Sumit Rewri
0.1%
0.1%
–
–
–
98,331
Gopal Lal Sharma
< 0.1%
< 0.1%
–
–
–
47,675
ESOP Pool
8.4%
8.4%
–
41.7L
–
6,520,661
Total
100.0%
100.0%
30.7Cr
2,058.9Cr
101,200
77,613,150
Physics Wallah – IPO
Physics Wallah, the edtech unicorn founded by Alakh Pandey, is preparing for its Initial Public Offering (IPO) in 2025. The company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), aiming to raise approximately INR 3,820 crore (around $460 million USD). This amount includes a fresh issue of equity shares worth INR 3,100 crore and an offer for sale (OFS) of INR 720 crore by the company’s co-founders.
To manage the IPO process, Physics Wallah has shortlisted four investment banks: Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan. The company plans to utilize the funds raised for expanding its offline and hybrid centers, investing in subsidiaries like Xylem and Utkarsh, enhancing its technology infrastructure, and covering marketing expenses.
Physics Wallah – Growth
Despite a slow start in the first year, Pandey quit his job at the coaching center in 2017 to turn into a full-time YouTuber. The channel started slowly picking up,, and by 2019, it had 2 million subscribers. When the country entered lockdown due to the COVID-19 pandemic, the demand for Physics Wallah grew higher and higher.
As a result, Alakh Pandey decided to expand his platform and started an application for online lectures. The startup also provides both offline and online classes for students under the name PW Pathshala. Today, more than 60 lakh students have learned from Physics Wallah. This startup has 16 PW Pathshala centers and 1,500 staff, of which 300 are teachers. It aims at providing the best learning experience for students.
Physics Wallah has forayed into the offline space, according to reports dated June 20, 2022, when it launched its first offline learning center called PW Vidyapeeth in Kota, Rajasthan.
Kota is famous for housing coaching centers for the preparation of medical and engineering students. PhysicsWallah’s offline center is also designed in much the same way and will be enrolling 11th and 12th-grade students who are planning to prepare for their JEE and NEET exams. The unicorn ed-tech startup revealed that the student-teacher ratio of each class will be 125:1.
Physics Wallah now has 10 million plus students, 31300 plus video lectures with 2500 plus mock tests, and 8 lakh plus questions.
PW SOS School of Startups
Physics Wallah launched the School of Startups, setting INR 100 crore ($11.9 million) fund to back the startups on 22 August 2024. To help budding entrepreneurs turn their ideas into profitable businesses, the initiative offers a wide range of resources, including affordable programs, hands-on training, strategic mentoring, and access to funding.
Aarambh, Prarambh, and Hopes Alive are the three separate programs that PW SOS provides, and they are all designed to help entrepreneurs at different points in their journeys.
Physics Wallah Financials
In FY25, Physics Wallah reported an operating revenue of INR 2,887 crore with total expenses of INR 3,265 crore, resulting in a loss of INR 243 crore. In comparison, FY24 saw revenue of INR 1,941 crore against expenses of INR 3,279 crore, leading to a loss of INR 1,131 crore.
Despite the losses, the company has shown significant revenue growth year-on-year, reflecting strong demand for its edtech services. The improved financial performance ahead of its IPO highlights investor confidence in Physics Wallah’s expansion and future potential.
Physics Wallah Financials
FY25
FY24
Operating Revenue
INR 2,887 crore
INR 1,941 crore
Total Expenses
INR 3,265 crore
INR 3,279 crore
Profit/Loss
Loss of INR 243 crore
Loss of INR 1,131 crore
Physics Wallah FInancials
Key Highlights:
Revenue Growth: Operating revenue surged by 49% year-on-year, driven by strong performance in both online and offline coaching segments.
Expense Management: Total expenses remained relatively flat, increasing by just 0.4%, despite significant investments in expanding offline centers and faculty.
Profitability Improvement: Losses narrowed by 78%, from INR 1,131 crore in FY24 to INR 243 crore in FY25, reflecting improved operational efficiency and scale.
Employee Costs: The company spent INR 1,426 crore on salaries, accounting for approximately 44% of total expenses, supporting a workforce of over 15,000 employees.
Offline Expansion: The average revenue per offline user increased to INR 40,405, indicating the success of its hybrid education model.
Physics Wallah – Products and Features
The company has launched various courses to date. The launch of the Physics Wallah Fund on 20 September 2023, was in partnership with a peer-to-peer lending platform, Rang De.
Some of the courses launched are:
Courses
About
Institute of Innovation (PW IOI)
It is a four-year residential computer science and artificial intelligence curriculum launched on July, 31 2023
Offline centre PWOnlyIAS
PW OnlyIAS is for preparing for the UPSC exam and was launched on May 9, 2023
It’s National Eligibility Cumulative Entrance Test–Postgraduate (NEET PG/NExT) preparation with the release of the MedEd app and website. The launch date was in April, 2023.
MPSC preparation courses
It helps with the preparation of MPSC Maharashtra Public Service Commission entrance exam and was launched in February, 2023.
Launches 50 Vidyapeeth Centers
It is an offline classroom with technology integration that provides comprehensive instruction at a low cost with the best instructors in India and was launched on May, 1, 2023
Launch “Physics Wallah Fund” in partnership with Rang de
The goal of this partnership launch on September, 20,2023 is to address the need for easily accessible and reasonably priced student loans so that students can obtain high-quality, industry-relevant education.
Integrated programme for JEE, NEET preparation
This launch is to provide students of tier 3 and tier 4 cities in India for JEE, NEET examination coaching.
Physics Wallah – Acquisition
Physics Wallah’s latest acquisition is Xylem Learning (a test-taking aid that helps you get ready for the NEET UG medical entrance exam) on June 19, 2023.
Company Name
Date
Price
Xylem Learning
Jun 19, 2023
$60.11 million
Knowledge Planet
Mar 20, 2023
–
iNeuron.ai
Jan 18, 2023
$30.057 million
PrepOnline
Oct 13, 2022
–
Altis Vortex
Oct 13, 2022
–
FreeCo
Aug 17, 2022
–
Physics Wallah – Investment
Physics Wallah invested in one company, iNeuron.ai (a well-known training center for data science, machine learning, and deep learning), on December 22, 2022, with a secondary market funding round for iNeuron.ai.
On November 19, 2023, PhysicsWallah (PW) announced the first round of layoffs at the edtech startup, terminating between 120 and 150 workers.
Workers from operations, content, and other departments were invited to sporadic meetings without providing a clear explanation. The number of workers affected may even be higher, according to a source who asked to remain anonymous.
Physics Wallah – Challenges Faced
During the launch of the Physics Wallah app in May 2020, the app crashed due to heavy traffic. The sudden hit of more than 2 lakh students into the app created this crash. As the web traffic continued, it took weeks for the technical glitch to be fixed. Alakh Pandey was afraid that the students might feel cheated as they had paid for the classes. But the reputation he had earned over the years made the students trust him and come back once everything was fixed.
The next challenge arose in 2021 when rivals started throwing stones at the company. Unacademy offered Rs 75 crore to Alakh Pandey, which he immediately refused. Then the rivals started poaching the PW staff, and a lot of them left the company within a short period. Then, with the support of students and his never-give-up attitude, Pandey came back strong and took the company to a Unicorn status following Byju’s, Unacademy, Vedantu and a few more in the EdTech industry.
Physics Wallah – Future Plans
Physics Wallah plans to open more offline centers and introduce more courses while also enhancing its online platform. Also, the company plans to expand its content to nine vernacular Indian languages like Gujarati, Malayalam, Tamil, Telugu, Kannada, and a few more. This would expand the student base of Physics Wallah, which could be estimated at around 250 million by 2025.
Physics Wallah is set to focus on inorganic expansion by entering the K-12 formal education sector, improving its content and publication services, and exploring mergers with community-driven educational platforms across various categories.
FAQs
What is Physics Wallah?
Physics Wallah is an e-learning platform that offers quality lectures and learning experiences for students at an affordable cost.
How did Physics Wallah start?
Physics Wallah started in 2016 when Alakh Pandey began teaching physics on YouTube, offering affordable online classes. It later grew into a full edtech platform with courses, apps, and offline centers.
Physics Wallah started in which year?
Physics Wallah was founded in 2014.
Who are the founders of Physics Wallah?
Alakh Pandey and Prateek Maheshwari are the founders of Physics Wallah.
What is the valuation of the Physics Wallah?
PhysicsWallah valuation is $2.8 billion as of September 2024.
Who are the investors in Physics Wallah?
Hornbill Capital, Westbridge Capital, and GSV Ventures are the two investors in the company.
How Physics Wallah become unicorn?
Physics Wallah became a unicorn in June 2022 after raising $100 million in its first funding round led by WestBridge Capital and GSV Ventures, valuing it at $1.1 billion.
In an effort to streamline its operations, online travel agency Agoda announced on September 17 that it has cut off its customer service representatives in China, Singapore, and Hungary. According to a representative for Agoda, the firm has been phasing out customer service positions in its Shanghai, Singapore, and Budapest offices while adding new positions in other regions.
As it grows its business, this move aims to consolidate Agoda’s customer service teams in places where it has the greatest operational flexibility and expertise. “The layoffs were held ‘unannounced’ during a closed town hall on August 4 and primarily affected customer experience departments,” an anonymous employee from one of the retrenched departments told CNA. The impacted positions, which included regional managers and customer specialists, were a component of Agoda’s multilingual support teams that answered consumer questions.
Agoda Facing Criticism Over Severance Agreement
The business is also under investigation for allegedly having a severance agreement that was presented to Singaporean media and told impacted workers not to report the incident to regulatory bodies, trade unions, or government agencies. Additionally, it barred them from bringing claims, mediation requests, or other legal actions against the business in connection with their employment or departure.
The memo states that workers who violate these conditions would lose their severance benefits and that any money they get must be sent back to Agoda “in full”. The company ‘continues to obey relevant local rules’ and is dedicated to keeping a strong local presence in Singapore, Agoda responded.
According to a representative for Agoda, affected workers received all the assistance they needed during the changeover, in accordance with industry norms. Employees had the freedom to contact local authorities or look for other legal options during this time. Although it’s yet unknown how many workers were impacted, several reports indicate that Agoda’s Singapore office lost at least 50 jobs.
Agoda Satisfying Local Work Quota
Agoda allegedly told employees in many town halls that they were hired “mainly to satisfy the local workforce quota” so that the company could hire more foreigners in Singapore, according to a CNA investigation. Companies are only able to get a certain number of work visas for foreign workers under Singaporean legislation, which is determined by how many local workers they hired in the previous three months.
The impacted worker informed CNA that they were “disappointed” with Agoda’s choice and that the terms of their employment contract were meant to keep them silent “to avoid causing further bad PR. The Ministry of Manpower (MOM) in Singapore has declared that it is taking the situation seriously and will look into the purported severance arrangement.
According to a statement from the ministry, it is improper for employers to impose clauses that prevent or discourage workers from contacting the authorities in any circumstance, as this goes against the principles of ethical and responsible employment practices.
Quick
Shots
•Layoffs were carried out unannounced
during an August 4 town hall, mainly affecting multilingual support teams.
•Employees allege severance terms
barred them from reporting to authorities, unions, or pursuing legal action.
•Singapore’s Ministry of Manpower
(MOM) is investigating claims of restrictive clauses in severance agreements.
•Ex-staff allege they were hired
mainly to satisfy Singapore’s local workforce quota for foreign hiring.
A technology platform that offers a wide range of home services, Urban Company, allows customers to book appointments for services such as beauty treatments, haircuts, massage therapy, cleaning, plumbing, carpentry, appliance repair, painting, and more. These services are delivered in the comfort of the customer’s home and at a time of their choosing. The platform is committed to ensuring a high-quality, standardized and reliable service experience.
In this article, we will explore more about Urban Company, its startup story, founder, business model, revenue model, funding, and more.
Urban Company connects skilled and experienced professionals with customers seeking specific services. To achieve this, they work closely with carefully selected service professionals, providing them with technology, training, products, tools, financing, insurance and branding to help them succeed and deliver exceptional service. Their advanced match-making algorithm identifies professionals who best meet the customer’s needs and are available at the preferred time, ensuring a seamless and tailored experience for all users.
Urban Company – Industry
The IT and Business Process Management (BPM) sectors have become key economic drivers, and by end 2025, IT’s GDP share is expected to hit 10%. India, with 76 crore internet users and some of the cheapest rates, is poised for further IT growth, though the digital talent gap may grow 3.5 times by 2026. IT and BPO services account for over 60% of service exports, with a 14% CAGR over two decades.
Urban Company plays a vital role in this boom by leveraging technology, expanding into Tier 2 cities, and driving the gig economy forward through digital innovation and workforce empowerment.
Urban Company – Founders and Team
Abhiraj Singh Bhal
Abhiraj Singh Bahl – Co-founder and CEO, Urban Company
Abhiraj Singh Bhal, co-founder and CEO of Urban Company, plays a pivotal role in overseeing the company’s operations and managing the onboarding process for service providers. His leadership has helped scale the platform into a dominant force in the home services market across Asia.
Abhiraj has earned several prestigious accolades, including being named in Fortune’s 40 Under 40 and Fortune’s 30 Under 30, as well as receiving the Entrepreneur Award at NTLF 2020.
On a personal note, Abhiraj comes from a family of high achievers. His father, Commodore Ashok Bhal, is a retired naval officer who specialized in electrical engineering at IIT Roorkee before serving in the Indian Navy, focusing on weapon systems. Now settled in Visakhapatnam, his father’s career has been a source of inspiration.
Outside of work, Abhiraj enjoys staying active through marathons, skydiving, and scuba diving. He also loves cooking, especially preparing his wife Urvi’s favorite dishes—a passion that allows him to unwind and connect with family.
Abhiraj Singh Bhal, Co-Founder and CEO of Urban Company (formerly UrbanClap), has an impressive journey from his early years in Mumbai to leading Asia’s largest home services marketplace.
He completed his schooling at Navy Children’s School in Mumbai before moving to Visakhapatnam for the later part of his education. Abhiraj holds a Bachelor’s degree in Technology from IIT-Kanpur and an MBA from IIM Ahmedabad.
Post-MBA, Abhiraj joined the Boston Consulting Group (BCG) in Singapore as a consultant, advising Fortune 500 companies across India, Germany, and Southeast Asia. After spending over three years at BCG, Abhiraj returned to India and launched a movie streaming venture called Cinema Box with Varun Khaitan, a batchmate from IIT-Kanpur who was also working with BCG in the U.S. The service allowed users to stream movies on smartphones via Wi-Fi while traveling.
Around this time, they connected with Raghav Chandra, a computer science graduate from the University of California, Berkeley, who was working on an auto-rickshaw aggregator startup called Buggy.in. Although initially dismissive of each other’s ventures, the three entrepreneurs eventually shifted their focus to the home services market after recognizing its highly fragmented and unorganized nature in India.
The trio began by personally searching for service professionals like beauticians, plumbers, and photographers, connecting them to friends and families. They tested the concept within social circles and FB groups, identifying people looking for such services. This led to the creation of UrbanClap (now Urban Company) in 2014. Their first investment was a modest INR 4,000 on Facebook ads to test the platform.
Initially, they bootstrapped the business before raising $1.6 million in funding from Accel Partners and SAIF Partners, propelling Urban Company into the fast-growing home services space.
Urban Company – Mission and Vision
Their vision is to empower millions of professionals worldwide to provide home services in a way that has never been experienced before.
Partner Empowerment
Urban Company has put in significant effort to create a support system that empowers its service partners. While enabling them to operate as independent micro-entrepreneurs, the platform also offers a protective framework. On average, these partners earn between INR 280 and 300 per hour after covering commissions, fees and all related product and travel expenses.
Additionally, every service partner is provided with life and accidental insurance, free training, access to loans and essential resources like PPE kits and vaccinations. Many partners also benefit from free health insurance, ensuring they are well-supported on both a professional and personal level.
Urban Company operates on the belief that both customers and service partners are equal stakeholders. The company was founded to bring organization and transparency to the home services industry, benefiting everyone involved. Before Urban Company, the market was largely controlled by middlemen and aggregators who limited access and took a big portion of the profits. By cutting out these intermediaries, Urban Company has opened up opportunities for independent workers and given them a stronger voice in the industry.
Urban Company’s commitment to its partners has been consistent and unwavering, both before and during the pandemic. They’ve supported their partners through difficult times and will continue to do so, ensuring that they have the tools and resources needed to succeed.
Urban Company – Name, Tagline and Logo
Urban Company Logo
Since the digital world is embracing flat design, a trend that’s being adopted by some of the biggest brands, this shift simplifies design elements, moving away from the heavily textured styles of the past. Flat design helps bridge the gap between the physical and digital worlds, offering users familiar, real-world visual cues to navigate online. Urban Company has always aimed to encourage users to seek online solutions for their problems, positioning the digital space as the go-to choice over traditional offline methods. In exactly this way, they created an ideal logo that envelopes all these vital points!
Urban Company – Business Model
Fixed Fee Services
For services like plumbing and electrical repairs, payments are processed through the app. The company takes a percentage of the payment as their fee, then transfers the rest to the hired service provider.
No-Fee Upfront Services
Here, the company invests in generating leads and listing service providers, without charging customers upfront. Instead, service experts pay a fee to accept and confirm a job request. If they successfully close the deal with the customer, the service is monetized.
Customers are offered five service provider options to choose from. If a provider isn’t selected, they receive credit towards future opportunities. The more effective the algorithm, the less effort the customer has to put in to find the right service.
Urban Company’s primary revenue source, making up 85% of its earnings, comes from a commission-based model tied to a subscription. Service providers are charged a percentage of the service fee for each task they complete. This system ensures that users receive quick and dependable service, while providers are compensated based on their workload. The commission rate varies depending on the type of service, allowing Urban Company to scale its income as the volume of completed jobs grows.
Bid-Based Model for Professionals
For specialists like photographers, interior designers, and yoga instructors, Urban Company operates a bid-like system. Instead of customers immediately booking services, professionals pay a fee to access and bid on leads. Their success in generating revenue depends on their ability to win over customers after being introduced through the platform. The algorithm presents users with five options, and if a professional is not chosen, their bid fee is reimbursed. The better the algorithm, the less effort is required from users to find the right expert.
Generating Leads
Lead generation is another way Urban Company generates income. Users describe their service needs, and experts either contact them directly or are approached by the clients themselves. Professionals are charged for these leads, effectively paying to be introduced to potential customers, creating an ecosystem where clients can easily find the services they require.
Income from Advertising
Beyond commissions and lead generation, Urban Company also makes money through advertisements. Service providers and businesses pay to promote their offerings on the platform, boosting their visibility in return for advertising fees. This strategy adds another revenue stream while enhancing the exposure of service providers to a wider audience.
Urban Company – Employees
Urban Company has between 1,000 and 5,000 employees in India and around the world. This team helps provide quality home services in many places, showing the company’s growth and commitment to its customers.
Urban Company – Challenges Faced
Revenue Streams and Profitability
Urban Company doesn’t rush into defining its business model and unit economics. Instead, they focus on validating customer behavior and product-market fit first. Scaling isn’t about just gaining users or raising funds; it’s about ensuring key metrics like acquisition costs, operational expenses, and transaction revenue are positive. They believe growth must be built on a solid economic foundation.
A major challenge for Urban Company is managing diverse service categories with unique requirements. CEO Bahl highlights pricing as particularly difficult since costs aren’t always clear upfront. To solve this, Urban Company develops all its technology in-house, with 100 engineers building systems that integrate pricing, fulfillment, and finance. Their advanced tech, powered by machine learning, ensures smooth operations across inventory, service delivery, and pricing.
Customer-Centric Solutions and Market Niche
Urban Company takes a careful approach to product-market fit, knowing that rapid growth without solid unit economics can lead to failure. Instead of rushing to scale, they focus on refining their product to meet market demand before expanding aggressively.
A unique challenge they face is the matchmaking process. Unlike on-demand services like food delivery, Urban Company deals with scheduled services, where customers book in advance. The key is predicting when customers will need services and pairing them with the right professional at the right time. Their tech, powered by predictive engines, ensures smooth coordination between customers and service providers.
Hiring and Team Dynamics
Urban Company takes pride in its meticulous approach to hiring and team building, knowing that a strong team is essential for growth. In a market where perks often overshadow company values, they prioritize aligning talent with their core mission. As Urban Company continues to scale, they ensure that every team member grows with the company. Clear communication channels and a shared vision are critical to this process.
Additionally, Urban Company’s commitment to technological innovation is evident in the way they manage their platform. Their systems don’t just handle customer-facing functions; they also support internal operations like training, fulfillment, and inventory management. For example, the company’s predictive engines monitor the inventory that professionals use, from cosmetics to spare parts and notify them when supplies are running low. This level of automation and intelligence reduces the manual effort required and keeps operations running efficiently, allowing Urban Company to stay focused on delivering high-quality service.
By integrating advanced technology into their business model, Urban Company ensures that their platform continues to evolve and meet the needs of both customers and service professionals. This forward-thinking approach helps them address challenges proactively, allowing them to build a sustainable, scalable business.
Urban Company – Funding and Investors
Urban Company has garnered support from 22 institutional investors, including Accel, Elevation Capital, and Trifecta Capital.
Urban Company has attracted investment from Kalyan Krishnamurthy and 11 other angel investors.
Urban Company has raised around US$560 million across 14 funding rounds so far. In September 2025, Urban Company raised US$56.7 million in a Pre-IPO round from investors including SBI Mutual Fund, Permira, Prosus, and Elevation Capital.
Announced Date
Transaction Name
Number of Investors
Money Raised
Lead Investors
September, 2025
Pre-IPO
–
$56.7 million
SBI Mutual Fund, Permira, Prosus, Elevation Capital
Urban company’s shareholding pattern as of May 2024, sourced from Tracxn:
Urban Company Shareholders
Percentage
Abhiraj Singh Bhal
8.9%
Raghav Chandra
8.9%
Varun Khaitan
8.9%
Accel
12.7%
Elevation Capital
11.2%
Vy Capital
12.2%
Bessemer Venture Partners
9.2%
Steadview
7.7%
Tiger Global Management
5.5%
Naspers
4.0%
Wellington
2.1%
ABG Capital
1.4%
Dragoneer Investment Group
2.6%
SAB Holding
< 0.1%
QED Innovation Labs
< 0.1%
Trifecta Capital
–
Partner Welfare Trust
–
Enterprise
< 0.1%
First Lap
< 0.1%
Ra Hospitality Holdings Co
< 0.1%
Elysian Fintech
< 0.1%
Angel
0.8%
Other People
< 0.1%
ESOP Pool
3.9%
Other Investors
0.1%
Total
100.0%
Urban Company – Mergers and Acquisitions
Urban Company has expanded its reach through three key acquisitions across three different countries. The most active year for these takeovers was 2016 when the company added two new businesses to its portfolio. While their acquisitions span multiple regions, Australia and India are the primary hotspots where they’ve focused their growth.
A lot of Urban Company’s deals center around the Local Services and Beauty Tech sectors, aligning perfectly with their core services. Their latest acquisition? Glamazon—a web and mobile platform offering at-home beauty services. Founded in 2013 in Bondi, Glamazon became part of the Urban Company family in March 2020.
Acquired On
Company Acquired
March 4, 2020
Glamazon
August 10, 2016
Goodservice
January 22, 2016
handyhome
Urban Company – Financials
Urban Company Financials
FY24
FY25
Revenue from operations
INR 828 crore
INR 1144 crore
Total Expenses
INR 1021 crore
INR 1223 crore
Profit/Loss
Loss of INR -92.7 crore
Profit of INR 28.5 crore
Urban Company Financials
Urban Company – IPO
Urban Company made a remarkable debut on the National Stock Exchange (NSE) on September 17, 2025. The company’s shares opened at INR 162.25, marking a 57.5% premium over the IPO issue price of INR 103. By the end of the trading day, the stock closed at INR 169, a 64.08% increase, reflecting strong investor confidence and enthusiasm.
The IPO was one of the most anticipated of 2025, with a subscription rate exceeding 100 times, making it the most subscribed public offering of the year. The company raised INR 1,900 crore through the offering, comprising a fresh issue of INR 472 crore and an offer-for-sale of INR 1,471 crore by existing shareholders.
Urban Company’s impressive listing performance has also been a significant win for early investors. Accel, which invested INR 14.3 crore in the company, saw its stake appreciate to approximately INR 390 crore following the IPO debut
Urban Company – Online and Social Media Presence
Urban Company is all about creating brand love and awareness by tapping into conversations and cultural events that bring people together. Their approach to Instagram, YouTube and Twitter (now X) is tailored specifically for each platform, giving them a unique edge in engaging with a wide range of audiences.
In January 2020, they rebranded from UrbanClap to Urban Company, signaling their ambition to become a global gig marketplace with a diverse range of services under one roof.
With a strong marketing strategy, they’ve been rolling out content that aligns with their vision—like the #UrbanCompanyImpact or #UCImpact campaigns. One of their latest initiatives is a content series called ‘Urban Company Impact,’ offering a behind-the-scenes look into the lives of the professionals who visit your homes, delivering the services you depend on. It’s a personal and powerful way to connect with the brand!
Urban Company Impact
Urban Company – Advertisements and Social Media Campaigns
Urban Company has taken a bold step in challenging the way we view the divide between white-collar and blue-collar workers in India. Over the past year, they’ve been addressing this issue head-on through a series of thought-provoking films. Following Chhota Kaam and Chhoti Soch, their latest release, Dignity of Labour, dives into the often overlooked but deeply ingrained bias against manual labor. The film revolves around a heartfelt exchange between a father and his daughter, sparking a conversation on the importance of respect for all types of work, regardless of the uniform worn.
At the ET Startup Awards 2021, Urban Company took home the prestigious Covid-led Business Transformation award.
Urban Company – Competitors
Some of the main competitors of Urban Company are as below:
Concord Services in home appliances repair category
Urban Service Plaza in AC, Fridge and other appliances service
Housejoy, which a home service platform
Busy Bucket Services which provides cleaning services
Urban Company – Future Plans
#FutureFemaleForward Urban Company has ambitious plans for the future, with a strong focus on empowering women in the workforce.
Our first goal is to have 5 lakh service partners, with 2 lakh of them being women,” says Abhiraj Singh Bhal, Co-Founder and CEO of Urban Company.
This highlights the company’s commitment to gender diversity and inclusion.
Urban Company is also turning its attention to India’s Tier 2 markets, where it has already expanded into 40 cities with promising results. Bhal shared that these cities, where they’ve launched in recent years, have shown impressive growth, prompting the company to deepen its presence in these regions.
On the international front, Urban Company is close to announcing a joint venture in Saudi Arabia, marking a significant milestone in its global expansion plans.
FAQs
What is Urban Company?
Urban Company connects skilled and experienced professionals with customers seeking specific services. To achieve this, they work closely with carefully selected service professionals, providing them with technology, training, products, tools, financing, insurance and branding to help them succeed and deliver exceptional service.
Who is Urban Company’s owner?
Abhiraj Singh Bhal is the founder and CEO of Urban Company.
When did Urban Company start?
Headquartered in Gurugram, Urban Company was founded on 10th November 2014.
What is Urban Company valuation 2025?
As of September 2025, Urban Company is valued at INR 24,216 crore (~$3 billion USD) after its IPO, following a 74% surge on its first trading day.
Which is Urban Company parent company?
Urban Company, formerly known as UrbanClap, is an independent company and does not have a parent company.
Marking a significant step in India’s pursuit of self-reliance in defence, Coratia Technologies, an Odisha-based startup, has signed a contract worth INR 66 Cr (approx. USD 7.5 million) with the Indian Navy. The deep-tech robotics startup will supply and maintain its indigenously developed Underwater Remotely Operated Vehicles (UWROVs).
The agreement, signed in the presence of high-ranking Indian Navy officials, represents the first large-scale induction of India-built UWROVs into active naval operations. Coratia Technologies developed underwater robots, Jalasimha and Jaladuta, as well as Navya (ASV), enabling sonar-based mapping and real-time data analytics powered by AI and ML, serving a dual-use purpose for both the defence and civil sectors.
The frugal design delivers advanced capabilities at a significantly lower cost, marking India’s first cost-efficient breakthrough in underwater robotics. “We recognised Coratia’s unique strength in homegrown innovation and its potential to transform critical sectors. By investing, we are not just backing a promising startup but also reinforcing the spirit of ‘Make in India’ and contributing to the vision of becoming a global technology leader,” said Raj Sethia, Founder and Managing Partner, MGF Kavachh. “By reducing India’s reliance on imported foreign technology during a volatile geopolitical period, such innovations support our goal of enabling technological sovereignty,” added Col. Sarjeet Yadav (Retd.), Venture Partner, MGF Kavachh.
Coratia Technologies recently also raised INR 17.4 Cr (approx. USD 2 Mn) in a Pre-Series A round led by MGF Kavachh, supported by Pontaq Ventures India in July 2025, with plans to scale up R&D initiatives, IPR, and grow its exports to tap rising global demand. The underwater robotics market stands at USD 5.08 billion in 2025, forecasted to reach USD 9.53 billion by 2030, growing at a 13.39% CAGR, as per Mordor Intelligence.
Civil and industrial use of Coratia’s UWROV is already in service of clients such as SAIL, Indian Oil, Indian Railways, TATA Steel, among others. UWROVs have wide-ranging applications from dam and bridge inspections to ocean floor mapping and monitoring marine ecosystems, and inspection of offshore energy assets, pipelines, and subsea cables. They also play a critical role in disaster response and water quality monitoring.
“This is not only a recognition of our capability to design and manufacture mission-critical underwater systems but also symbolises the Navy’s relentless efforts to strengthen India’s research and innovation ecosystem through well-structured initiatives like the iDEX,” said Debendra Pradhan, Co-Founder & CEO, Coratia Technologies.“Induction of indigenous UWROVs not only reduces costs and reliance on foreign suppliers but also combats trade restrictions and tariff uncertainties. We’re here to unlock new possibilities for defence preparedness and supporting India’s blue economy,”added Biswajit Swain, Co-founder & CTO, Coratia Technologies.
About Coratia Technologies: Coratia Technologies is an Odisha-based deep-tech startup developing advanced autonomous underwater vehicles for dual defence and civilian applications. Founded by Debendra Pradhan and Biswajit Swain, the startup is incubated at National Institute of Technology, Rourkela’s FTBI, STPI Bhubaneswar Electropreneur Park, with support from Startup Odisha and i-Hub, Gujarat. The deep tech underwater robotics company is on a mission to harness indigenous talent and foster innovation to advance India’s technological sovereignty, aligned with the Make in India initiative. In 2025, it received the Rising Star Award at the Sangam Conclave by MeitY. It has also been recognised as one of India’s most promising deep-tech startups, winning national and international honours including Most Promising Startup by ELCINA, Meet the Drapers India, NASSCOM’s Emerge 50, Boeing BUILD 3.0, and Cochin Shipyard’s USHUS Program. It was also featured on Shark Tank India Season 3, where the founders were offered a deal by Ritesh Agarwal, Founder of OYO.
Debendra Pradhan, Co-Founder & CEO, Coratia Technologies: Debendra (Deb) leads Coratia Technologies’ product commercialisation roadmap, client, government and investor relations, aligned with domestic and global market demands. Deb earlier worked at Mercedes-Benz Research and Development in Bengaluru and then in Germany as an R&D Engineer. His experience in high-performance automotive engineering sharpened his expertise in simulation, systems integration, and precision engineering skills, which he has since translated into building mission-critical underwater platforms. He was also involved in hands-on innovation projects, which included designing and fabricating a Formula-style race car for Formula SAE India, developing an Autonomous Underwater Vehicle as part of his early robotics work, and building an Ornithopter aircraft that mimicked avian flight. He holds a Master’s degree in Mechatronics and Automation and a Bachelor’s in Mechanical Engineering from the National Institute of Technology, Rourkela.
Biswajit Swain, Co-Founder & CTO, Coratia Technologies: Biswajit leads R&D, product development, and operations at Coratia Technologies. He played an instrumental role in operationalising Coratia’s underwater robotics platform from incubation into a fully-fledged defence and civilian market-ready product. Biswajit’s multidisciplinary background spanning aerodynamics, mechatronics, CFD, FEA, and sustainable design equips him with the technical expertise to drive Coratia’s ongoing innovation. Before Coratia, he worked at Development Alternatives, New Delhi and then in South Africa, spearheading projects focused on sustainable technologies and innovative engineering solutions. His career began at NTPC and SAIL, where he gained practical experience in machining, manufacturing, and thermal systems. Biswajit has also been involved in projects where he co-designed an electric race car, led the development of a foldable winged ornithopter with Debendra Pradhan, his fellow co-founder (patent filed). He holds a Master’s degree in Mechatronics and Automation and a Bachelor’s in Mechanical Engineering from the National Institute of Technology, Rourkela.
India’s top executives earn impressive salaries, much higher than the average pay of their employees. These top leaders not only run big companies but also make some of the highest incomes in the Indian business world. In a country where CEO salaries often grab attention and start debates, it’s important to understand how these pay packages work.
In this article, let’s take a closer look at the salaries of the highest-paid CEOs in India. We’ll explore the eye-popping numbers that show the financial rewards of leading at the top of the corporate ladder.
Listed below are the highest-paid Chief Executive Officers and their salaries in India, showcasing the extraordinary earnings of these industry leaders:
Sandeep Kalra
CEO
Sandeep Kalra
Company
Persistent Systems
Salary
INR 148.09 Crore (FY25)
Sandeep Kalra – CEO, Persistent Systems | Highest-Paid CEO Salary in India
Sandeep Kalra is the CEO and Executive Director on the Board of Persistent Systems. An alumnus of IIM Calcutta, Kalra specializes in revitalizing businesses to boost growth and profitability. As a result of investor trust in the company’s trajectory under Sandeep’s direction, Persistent is now included in three famous capital market indices: the MSCI India Index, the S&P BSE 100, and the S&P BSE SENSEX Next 50 Indices.
Pawan Munjal
Name
Pawan Munjal
Company
Hero MotoCorp
Salary
INR 109.41 crore (FY25)
Pawan Munjal – Executive Chairman and Whole-Time Director, Hero MotoCorp | Top CEO Salary in India
Pawan Munjal, the former CEO of Hero MotoCorp, has assumed the position of Executive Chairman and full-time director on the company’s Board. Niranjan Gupta was appointed as the new Chief Executive Officer (CEO) of Hero MotoCorp in March 2023, the country’s largest two-wheeler manufacturer
Rajeev Jain, the longtime leader of Bajaj Finance, has taken on the role of Executive Vice Chairman of the company. Under his leadership, Bajaj Finance has grown into one of India’s leading non-banking financial companies (NBFCs), known for its strong consumer lending and digital finance business. Before this elevation, Jain served as the Managing Director & CEO, playing a key role in scaling the company’s operations and profitability.
C Vijayakumar
CEO
C Vijayakumar
Company
HCL Technologies Ltd
Salary
INR 94.6 crore (FY25)
C Vijayakumar – CEO and MD, HCLTech | Highest-Paid CEO Salary in India
C Vijayakumar, the CEO and Managing Director of HCL Technologies Ltd stands out as one of the most highly compensated top executives in the Indian IT industry. He holds a Bachelor’s Degree in Electrical and Electronics Engineering from PSG College of Technology. Vijayakumar joined the company in 1994 and was appointed CEO in 2016.
Dr Murali K Divi
CEO
Dr Murali K Divi
Company
Divi’s Laboratories
Salary
INR 88.15 crore (FY25)
Murali K Divi – Managing Director, Divi Laboratories
Murali K. Divi, founder of Divi’s Laboratories, serves as the Chairman and Managing Director of the company. A visionary entrepreneur with decades of experience in the pharmaceutical industry, he has been instrumental in building Divi’s Labs into one of the world’s leading manufacturers of active pharmaceutical ingredients and intermediates. Under his leadership, the company has achieved global recognition for quality, scale, and cost efficiency in pharma manufacturing.
Salil Parekh
CEO
Salil Parekh
Company
Infosys
Salary
INR 80.62 crore (FY25)
Salil Parekh – CEO and MD, Infosys | Highest-Paid CEO Salary in India
Salil Parekh serves as the Chief Executive Officer and Managing Director of Infosys. Before joining Infosys, Salil held various leadership positions for 25 years at Capgemini, where he was a member of the Group Executive Board. He has a Master of Engineering in Computer Science and Mechanical Engineering from Cornell University, as well as a Bachelor of Technology in Aeronautical Engineering from the IIT, Bombay.
S N Subrahmanyan
CEO
S.N. Subrahmanyan
Company
Larsen & Toubro (L&T)
Salary
INR 76.25 crore (FY25)
S.N. Subrahmanyan – Chairman and MD, Larsen & Toubro | Highest-Paid CEO Salary in India
S.N. Subrahmanyan is the Chairman and MD at Larsen & Toubro (L&T), an Indian multinational conglomerate specializing in engineering, manufacturing, construction, technology, and financial services. He also serves as Vice Chairman on the boards of LTI Mindtree and L&T Technology Services, Chairman at L&T Metro Rail (Hyderabad) Limited, and Director and Chairperson at L&T Finance Holdings Ltd. He joined L&T as a director in 2011. With a degree in civil engineering and a post-graduation in business management, Subrahmanyan brings a strong educational background to his role.
Vinay Prakash – CEO of Adani Natural Resources and Executive Director at Adani Enterprises
Vinay Prakash, a key leader within the Adani Group, serves as the Executive Director of Adani Enterprises Ltd. and is CEO of Adani Natural Resources. He has played a pivotal role in expanding Adani’s global footprint in resources and energy, driving sustainable growth and strategic partnerships. Under his leadership, Adani has strengthened its position as a major player in mining services and natural resources on both domestic and international fronts.
Ravi Kumar S
CEO
Ravi Kumar Singisetti
Company
Cognizant
Salary
INR 70 crore (FY24)
Joined
January 2023
Ravi Kumar S – CEO, Cognizant | Highest-Paid CEO Salary in India
The newest addition to the list of highest-paid CEOs is Mr Ravi Kumar S, Chief Operating Officer, Cognizant. Appointed in January 2023, Kumar holds a bachelor’s degree in engineering from Shivaji University and an M.B.A. from Xavier Institute of Management, India. As the CEO, Kumar drives the company’s strategic journey, ensuring sustainable growth and driving long-term shareholder value. Before Cognizant, he served as the President of Infosys from 2016 to 2022. Kumar has become the highest-paid CEO for the fiscal year 2023 by earning an astounding INR 186 crore.
Nithin Kamath
CEO
Nithin Kamath
Company
Zerodha
Salary
INR 72 crore (FY22-23)
Nithin Kamath – Founder and CEO, Zerodha | Highest-Paid CEO Salary in India
Nithin Kamath cofounded discount brokerage Zerodha in 2010 with his brother Nikhil Kamath. His entrepreneurial conquests also consist of companies like True Beacon and Gruhas. His vision of revolutionizing the Indian stockbroking industry through Zerodha’s discount brokerage model has made Zerodha what it is today. As CEO, Nithin Kamath drew a handsome sum of INR 72 Crore for the financial year 2022-2023.
Nitin Rakesh
CEO
Nitin Rakesh
Company
Mphasis
Salary
INR 44.1 Crore (FY24)
Nitin Rakesh – CEO and Executive Director, Mphasis | Highest-Paid CEO Salary in India
Nitin Rakesh took over as CEO and Executive Director of Mphasis on 29 January 2017. Rakesh holds a Master’s in Management Studies from SVKM’s NMIMS, Mumbai. Early in 2017, Rakesh played a key role in the establishment of Mphasis Sparkles, an innovation lab that provides entrepreneurs with a venue to present cutting-edge ideas to major corporations and integrate those products into Mphasis offerings.
Mphasis broke records for the most new deals it has ever won under Nitin’s direction, redefining standards and outpacing the industry growth rate.
Sudhir Singh
CEO
Sudhir Singh
Company
Coforge
Salary
INR 105.1 Crore (FY24)
Sudhir Singha | Top 10 Highest paid CEO in India
Sudhir Singh is the Executive Director and CEO of Coforge LTD. An alumnus of IIM Calcutta, Singh’s career has seen some promising years in Hindustan Liver, Genpact, and Infosys before being appointed as the CEO of Coforge. Coforge recently acquired Cigniti, a Hyderabad-based company, for $220 million under Sing’s leadership. This will help Coforge expand into new verticals and strengthen the North American market.
C P Gurnani
CEO
CP Gurnani
Company
Tech Mahindra
Salary
INR 32 crore (FY23)
CP Gurnani – CEO and MD, Tech Mahindra | Highest-Paid CEO Salary in India
Another prominent name on the list of the highest CEO salaries in India is CP Gurnani. CP Gurnani, the Managing Director and Chief Executive Officer of Tech Mahindra, is known for his leadership in spearheading the aggregation of Mahindra Satyam with Tech Mahindra. He is a chemical engineering graduate from the National Institute of Technology, Rourkela. Gurnani has an illustrious career, having held influential positions at Hewlett-Packard Ltd., Perot Systems (India) Ltd., and HCL Corporation Ltd. In addition, he served as Nasscom chairman for the year 2016–17.
Rajiv Bajaj – CEO and MD, Bajaj Auto | Highest-Paid CEO Salary in India
Rajiv Bajaj, the CEO and Managing Director of Bajaj Auto, is known for his remarkable leadership in the Indian motorcycle manufacturing industry. He assumed the position in 2005 and was re-appointed as MD and CEO in 2020. He made the company one of the strongest ones in the country under his leadership, and since then, it has never looked back. He changed the two-wheeler industry in India by introducing the Pulsar range of motorcycles. In 2017, he was ranked 42nd by India Today in their list of India’s 50 Most Powerful People.
In 2024, Rajiv Bajaj’s salary was reported to be Rs 53.75 crore.
Saugata Gupta
CEO
Saugata Gupta
Company
Marico Limited
Salary
INR 39.1 crore (FY25)
Saugata Gupta – CEO and MD, Marico | Highest-Paid CEO Salary in India
Saugata Gupta, the CEO and Managing Director of Marico Limited holds a B.Tech degree in Chemical Engineering from IIT Kharagpur and a PGDM in Marketing from IIM Bangalore. He joined Marico, a multinational consumer goods company from India, in 2004 as the Head of Marketing. Saugata is one of the prime faces who is responsible for the company’s success both in India and internationally. Recently, he has been re-appointed as the CEO and MD for a term of two years, effective from April 1, 2024, to March 31, 2026.
Saugata Gupta’s salary grew by a whopping 157% from Rs 14.02 crore in FY21 to Rs 36.1 crore in FY22. He emerged as the highest-paid CEO in the FMCG segment in FY22.
T. V. Narendran
CEO
T V Narendran
Company
Tata Steel Limited
Salary
INR 17.3 crore (FY25)
T. V. Narendran – CEO and MD, Tata Steel | Highest-Paid CEO Salary in India
T. V. Narendran is the CEO and MD of Tata Steel Limited, one of the world’s largest steel producers. He holds a degree in Mechanical Engineering from the National Institute of Technology (NIT) Trichy and an MBA from the Indian Institute of Management (IIM) Calcutta.
In FY21, he received a salary of Rs 15.58 crore. However, his FY22 package saw a significant increase, reaching Rs 19.5 crore, reflecting a growth of 25% compared to the previous year. In 2024, he got a salary of Rs 17.45 crore, while in 2025, he was compensated with Rs 17.30 crore, which is almost same as the previous year.
Gopal Vittal – CEO and MD, Bharti Airtel | Highest-Paid CEO Salary in India
Gopal Vittal is the current CEO and Managing Director of Bharti Airtel Limited. He is an alumnus of Madras Christian College and has completed his MBA at IIM, Kolkata. Before joining Bharti Airtel, Gopal worked for twenty years at Unilever, where he excelled in various positions related to sales, marketing, and general management in markets spanning India, Thailand, Indonesia, and China. His diverse background and expertise have played a crucial role in shaping his leadership abilities.
In FY22, Gopal Vittal’s salary witnessed a 5.8% increase, amounting to Rs 15.25 crore.
On the other hand, Bharti Airtel chairman Sunil Mittal’s remuneration fell nearly 5% in FY22 to Rs 15.39 crore. His salary was Rs 16.8 crore in 2023, an increase of 9.16%.
Mohit Malhotra
CEO
Mohit Malhotra
Company
Dabur India Limited
Salary
INR 14.6 crore (FY24)
Mohit Malhotra – CEO, Dabur | Highest-Paid CEO Salary in India
Mohit Malhotra serves as the CEO of Dabur India Limited, a renowned consumer products, and Ayurvedic company. Under his leadership, Dabur has expanded its reach globally. Mohit holds a management degree from Pune University and an Executive master’s in International Business from the Indian Institute of Foreign Trade, New Delhi. His journey with Dabur began in 1994 as a management trainee, where he excelled in various roles in marketing and sales. He later became the CEO of Dabur International, based in Dubai, before assuming his current position as CEO of the company’s India business in April 2019.
Mohit Malhotra received Rs 14.60 crore as his salary in FY22, which increased by 42.85% from the Rs 10.22 crore in remuneration he received in FY21. He received Rs 13.35 crore in FY23.
Former Highest-Paid CEOs in India
The following list comprises the former highest-paid CEOs who have either undergone significant transformations or stepped down from their positions:
Thierry Delaporte
CEO
Thierry Delaporte
Company
Wipro
Salary
INR 167 crore (FY24)
Thierry Delaporte – CEO and MD, Wipro | Highest-Paid CEO Salary in India
Thierry Delaporte, the ex-CEO of Wipro Limited, holds a bachelor’s degree in economics and finance from SciencesPo Paris and a Master of Laws from the Sorbonne University. He was appointed as CEO and MD of the company in July 2020 and has been dedicatedly serving in this role since then. Wipro, a global IT, consulting, and business process services company, is renowned for its valuable subsidiaries.
Thierry’s earnings saw a notable increase from Rs 64.3 crore in FY21 to Rs 79.8 crore in FY22. In FY23, his earnings amounted to $10 million (Rs 82.2 crore), slightly lower than the previous year’s $10.5 million (Rs 79.8 crore at that time). His earnings for FY24 were Rs 167 crore.
Natarajan Chandrasekaran
Name
Natarajan Chandrasekaran
Company
Tata Sons
Salary
INR 113 crore (FY23)
Natarajan Chandrasekaran – Chairman Tata Sons
Natarajan Chandrasekaran is the Chairman of Tata Sons. He was voted the best CEO for five consecutive years by Institutional Investor’s Annual All-Asia Executive Team. During the financial year 19, he received a package of Rs 65 crore. Chandrasekaran, the first non-Parsi to head the Tata Group, transitioned from his CEO role to become the Chairman of the Board at Tata Sons, the holding company and promoter of all Tata Group companies. His appointment as Chairman followed a remarkable 30-year career at Tata Consultancy Services (TCS), where he served as the CEO and Managing Director.
Rajesh Gopinathan, the former CEO and Managing Director of Tata Consultancy Services (TCS), has made significant contributions to the success of the global IT solutions and consulting firm. In March 2023, he decided to step down from his position as CEO and MD to pursue other interests. TCS marked a new chapter on June 1, 2023, as it welcomed its new CEO and MD, K Krithivasan. Gopinathan is an electrical and electronic engineer who graduated from REC Trichy (now NIT, Trichy), and has a Post-Graduate Diploma in Management from IIM, Ahmedabad.
In FY23, TCS paid approximately Rs 30 crore to its former CEO, Rajesh Gopinathan.
Sanjiv Mehta
CEO
Sanjiv Mehta
Company
Hindustan Unilever
Salary
INR 22.36 Crore (FY23)
Sanjiv Mehta – Former CEO, Hindustan Unilever
In October 2013, Mehta was appointed MD and CEO of Hindustan Unilever. He was named chairman in June 2018. In his capacity as Cluster President, he managed Unilever’s operations in South Asia, which include those in Bangladesh, India, Nepal, Sri Lanka, and Pakistan. Mehta is now a part of Unilever’s global executive board. Under his direction, HUL’s market value climbed from $17 billion to over $70 billion in just seven years, placing it among the top five most valuable firms in India and the biggest consumer staples company in Asia. The then CEO drew a salary of INR 22.36 Crore in the financial year 2023.
Ajay Srinivasan
Name
Ajay Srinivasan
Company
Aditya Birla Capital
Salary
INR 28.22 crore (FY21)
Ajay Srinivasan – Former CEO, Aditya Birla Capital
Ajay Srinivasan, the former CEO of Aditya Birla Capital, joined the company in 2007. Before that, he was also the chief executive officer of fund management at Prudential Corporation Asia. The graduate from IIM Ahmedabad immediately became the CEO after his joining. His salary was Rs 28.22 crore in FY21.
In April 2022, Aditya Birla Capital announced that Vishakha Mulye would assume the position of Chief Executive Officer (CEO) following the departure of current CEO Ajay Srivinasan.
Vivek Gambhir
Name
Vivek Gambhir
Company
Godrej Consumer Products
Salary
INR 20.09 crore (FY19)
Vivek Gambhir – Former CEO and MD, Godrej Consumer Products Ltd.
Vivek Gambhir was the former CEO and MD of Godrej Consumer Products Ltd. (GCPL). He spearheaded GCPL’s famous 3 by 3 strategy. Apart from this, Vivek is a founding member of Bain’s consulting operations in India. He is a Harvard MBA and the president of the Harvard Business School in India.
Vivek Gambhir’s salary was more than Rs 20 crore in FY19, making him the highest-paid FMCG executive that year. Later, he resigned from the company in 2020. Currently, Vivek Gambhir is the CEO of boAT, India’s leading audio and wearable brand.
Mukesh Ambani
CEO
Mukesh Ambani
Company
Reliance Industries Limited
Salary
INR 15 crore (FY20)
Mukesh Ambani – Chairman and MD, Reliance Industries | Highest-Paid CEO Salary in India
Mukesh Ambani, the Chairman and Managing Director of Reliance Industries, secured the second position on Brand Finance’s list of top CEOs, while Jensen Huang, the CEO of Nvidia, claimed the first spot. This recognition highlights Ambani’s outstanding brand guardianship and places him among the world’s leading CEOs. Ambani surpassed notable executives like Satya Nadella of Microsoft and Sundar Pichai of Google to rank first among Indian and Indian-origin CEOs on the Brand Guardianship Index 2023.
Varun Berry – Executive Vice-Chairman and Managing Director, Britannia
Varun Berry (former CEO and MD, Britannia) was elevated to the position of Executive Vice-Chairman and Managing Director in 2022. He holds a graduate degree in engineering (BE Mechanical) from Panjab University. Varun has over 32 years of experience with premier companies like Hindustan Unilever and Pepsico. With Varun’s elevation, Britannia appointed Rajneet Kohli as its new executive director and CEO.
Varun Berry received a salary worth Rs 11.47 crore in FY22, a jump from Rs 10.52 crore in FY21.
Vipin Sodhi
Name
Vipin Sondhi
Company
Ashok Leyland
Salary
INR 10.7 crore (FY21)
Vipin Sondhi – Former CEO and MD, Ashok Leyland
Vipin Sondhi took on the role of CEO at Ashok Leyland in 2019, a renowned Indian multinational automotive manufacturer and the country’s second-largest commercial vehicle manufacturer. As an alumnus of IIM Ahmedabad, he led the company with distinction and received a salary of INR 10.7 crore in FY21. However, he later decided to step down as Managing Director and CEO in December 2021.
Conclusion
The CEOs mentioned above are truly remarkable individuals who have not only revolutionized their respective companies but have also become beacons of inspiration for budding entrepreneurs, ambitious students, and professionals across India. The substantial salaries they command are a testament to the immense value they bring to their organizations, showcasing their exceptional expertise and strategic acumen. As we celebrate their extraordinary achievements, we acknowledge the pivotal role played by CEOs in shaping the future of India’s business landscape and propelling our nation’s economic growth.
FAQs
Who is the CEO?
A Chief Executive Officer (CEO) is the most senior corporate, executive, or administrative officer in charge of managing an organization, especially an independent legal entity such as a company or nonprofit institution.
To whom does the CEO report?
As the top manager, the Chief Executive Officer (CEO) is typically responsible for the corporation’s entire operations and reports directly to theChairman and the Board of Directors.
Who are the highest-paid CEOs in India?
Some of the highest-paid CEOs in India are:
Sandeep Kalra
Pawan Munjal
Rajeev Jain
C Vijaykumar
Dr Murali K Divi
Salil Parikh
S.N. Subrahmanyan
What is average salary of CEOs in india?
CEO salaries in India range widely, from INR 3–5 crore in mid-sized firms to INR 15–40+ crore annually in top listed companies.
What is the salary of CEO per month?
In India, top CEOs earn about INR 2–8 crore per month, depending on the company.
The world is in such desperation to invest in AI. But many wonder and want to know if it’s underinvesting or overinvesting. Perhaps, it’s overinvesting, says Chris Wood (speaking to ET NOW), the Global Head of Equity Strategy at Jefferies. He studies stock markets to predict risks and trends, and he is warning about the risks of lower returns and more. Have you heard of AI stock market recommendations? It is when you use AI to decide where to invest money, and more often than not, it recommends investing in AI. So, is the market caught in a loop? Learn more from Chris Wood.
What Is Chris Wood Saying About the U.S. AI Stock Market?
U.S. Stock Rally Is All About AI, Not Tariffs or the Economy
The U.S. stock market, especially the S&P 500, is going up a lot. Several assume that it is the case because of tariffs and strong economic performance.
However, Chris Wood, on the other hand, says it’s because of the AI hype.
Many companies are racing to invest in AI, specifically AI capex, meaning capital expenditure/investment in AI infrastructure.
The Big Drivers Are Only a Few Companies
It all started in early 2023 when Microsoft invested in OpenAI, and suddenly, the stock market rally was all powered by a few tech giants.
More particularly, the five hyperscalers include Microsoft, Google, Amazon, Meta, and Nvidia.
All five made up 50% of all S&P 500 gains.
This means that the market isn’t rising broadly, but instead is concentrated in AI stocks.
The “AI Arms Race” Effect
Wood calls this move of investors an “AI capex arms race” because all the tech giants are just competing to push billions into AI models.
Although the companies are planning to spend $350 billion on AI infrastructure this year, the returns are doubtful. It is just going to create a bubble.
Deepseek Shook Things Up
China released DeepSeek, which is an open-source AI model (meaning a free tool), this year. So, how is the company making money?
This is paramount because a significant amount of money is invested in creating the AI, and it is accessible for free, resulting in a waste of resources. And so is it for investors.
After the announcement of DeepSeek, the stocks fell sharply and picked up after a while. After this bounce back, stocks rallied again. According to Wood, the investors didn’t learn the lesson.
Retail Investors Are Driving the Market
Typically, stock markets are driven by institutional investors, such as mutual funds and hedge funds.
But now, they are moved mainly by retail investors like regular people buying stocks.
Wood outright warns that it’s a risk if you listen to an AI and invest in AI because it says to do so. This is a feedback loop:
AI says, “Buy AI stocks.”
People buy.
Prices go up.
AI says, “See, it works, now buy more.”
Risk of Overinvestment Bust
According to Wood, if these AI models become commoditized, meaning affordable, then the big investments by hyperscalers will go to waste.
Later, it will lead to a burst of the AI bubble, just like the dot-com crash in the U.S. in 1995.
Valuation Concerns
According to Wood, the U.S. market right now is at an all-time high in price-to-sales ratio. This means the share price is compared to the company’s revenue.
And more importantly, he says that the earnings of the companies are artificially inflated via non-GAAP accounting. It is a method that excludes certain costs (of the company) in order to make the profits look better.
BLYP, the hyper-local valet and smart parking platform, is proud to announce Rannvijay Singha as its official brand ambassador. Known for his charismatic persona, fearless attitude, and deep connection with the youth of India, Rannvijay perfectly embodies the spirit of BLYP, a brand built on trust, reliability, and smarter choice.
blyp (formerly ParkMate), India’s leading smart parking solutions provider, has announced the appointment of actor and youth icon Rannvijay Singha as the face of its brand. The move is part of blyp’s strategy to strengthen its brand presence and connect with a wider audience as it repositions itself with a fresh identity and expanded vision.
Known for his energetic personality and strong appeal among 90s kids, millennials and Gen Z, Rannvijay will be the face of blyp’s upcoming campaigns that aim to highlight the brand’s upcoming new product launch.
“We are delighted to have Rannvijay join blyp as our brand ambassador. Rannvijay has been a youth icon since my formative years. I have always been his big fan. His persona of being the reliable, strong willed and trustworthy big bro and his background as an automobile lover fit him the best as the face of blyp. His relatability, authenticity, and strong connect with urban, tier-ii and iii town audiences alike, perfectly align with our mission to redefine parking and mobility in India,” said Dhananjaya Bharadwaj, Co-founder & CEO, blyp.
“Rannvijay has inspired me personally since my school days. His connection with automobiles and his ability to influence millions make him the perfect face for blyp. With Rannvijay on board, Blyp is set to define a new narrative in urban mobility, shifting users away from outdated parking systems to a more seamless and magical experience. It’s not just about parking anymore. It’s about making the smart move with blyp,” added Abhimanyu Singh, Co-founder & COO, blyp.
Commenting on the association, Rannvijay Singha said, “I am excited to partner with blyp, a brand that is solving one of the biggest challenges of urban living—parking. Their vision of making the process seamless and digital resonates strongly with me, and I look forward to being part of this journey to make mobility smarter for everyone.”
About blyp
blyp is among India’s leading smart parking provider, dedicated to making commuting faster, easier, safer, and more efficient. Formerly known as ParkMate, the company has expanded its offerings to include AI-powered parking systems, instant valet services, secure residential parking, and subscription-based corporate parking solutions. With advanced technologies like computer vision and Bharat Stack, blyp delivers a fully paperless and seamless experience for users across cities. Available on both Android and iOS, blyp’s platform ensures real-time parking availability, instant booking, and enhanced vehicle security. Committed to supporting smart cities and sustainable mobility, blyp continues to innovate and expand its services, helping businesses and individuals navigate urban parking challenges effortlessly.
Sanvi Barjatya
