Grab Sets Ambitious 2028 Targets: 20% Annual Revenue Growth and Profit Tripling on AI and Service Expansion
Singapore-based Grab Holdings Ltd (NASDAQ: GRAB), the dominant superapp across Southeast Asia, has laid out an aggressive roadmap for the coming years. In an exclusive interview with Reuters, company President and Chief Operating Officer Alex Hungate revealed targets to grow revenue by 20% annually and to triple profits by 2028. The strategy hinges on deeper integration of artificial intelligence across its platform and the expansion of its service offerings beyond core mobility and delivery.
"We are moving from a phase of consolidation to one of targeted, profitable growth," Hungate stated from Grab's Singapore headquarters. "AI is not just an efficiency tool for us; it's becoming core to personalizing user experiences and optimizing our network of drivers and merchants."
The announcement follows the company's recent milestone: reporting its first full-year net profit in 2025. While its Q4 2025 revenue of $906 million slightly missed analyst expectations, an EPS of $0.0386 significantly outperformed estimates, signaling improving cost management.
In tandem with its growth plans, Grab is undergoing a leadership transition. Group VP of Marketing and Sustainability Cheryl Goh will depart on February 28. Alex Hungate is slated to join the company's board on May 1, succeeding CFO Peter Oey. The company has also scheduled a virtual extraordinary general meeting for March 24, 2026.
Analysts view Grab's ambitious targets as a sign of confidence in its maturing business model, which spans ride-hailing, food and grocery delivery, and digital financial services across eight Southeast Asian countries.
User Reactions
Priya Sharma, Tech Analyst in Jakarta: "This is a logical next step. Grab has the market share and data; now it's about monetization efficiency. Their AI investments in route optimization and dynamic pricing will be critical to hitting these margins."
David Chen, Venture Capitalist in Singapore: "Tripling profit in three years? That's exceptionally ambitious. It suggests they're planning to unlock significant value in their financial services or advertising segments, which have higher margins than deliveries."
Marcus Lee, Small Restaurant Owner in Bangkok: "More growth for them means more pressure on us. Their commission fees keep inching up. I hope this 'profit tripling' doesn't come solely from squeezing the small partners who built this platform with them."
Elena Rodriguez, Digital Nomad in Ho Chi Minh City: "As a daily user, I just want the app to be faster and rewards to be better. If AI can fix the wait times during rain, I'm all for it. But these corporate targets feel distant from the actual user experience on the ground."