Follow TOI Tech on Twitter >>>

And like us on Facebook >>>

BENGALURU: Taxi hailing app Uber ’s run rate of gross transactions in India is close to Rs 400 crore now, and estimates made on the basis of figures sourced from Paytm—Uber’s sole payment channel in the country — indicate that this run rate will cross Rs 1,000 crore by the end of this year.Run rate is the annualization of the last month’s revenue, and is a measure that fast growing transaction-based startups use. Sources in Paytm that TOI spoke with said the taxi sector contributes around 5% of the gross merchandize value (GMV) of the transactions on the company's platform, and that Uber accounts for 80% of the taxi sector transaction value.Paytm on Tuesday announced that the digital wallet’s annualized GMV run rate has crossed $1.5 billion (around Rs 9,450 crore). A back-of-the-envelope calculation shows that Uber would account for about Rs 400 crore of that.Paytm sources also said the taxi segment was one of the fastest growing segments for the company, and was expected to grow to 10% of the GMV by the end of 2015. Paytm founder Vijay Shekhar Sharma has been maintaining that the Noida-based firm will hit $4 billion in GMV by the end of the year.Uber was Paytm’s first taxi customer, but it has since signed on several more —Savaari, Bookmycab, MegaCabs. On Tuesday, it also signed on TaxiForSure. So Uber’s share in Paytm’s taxi collections could drop from the 80% now. But even if it drops to just 40%, its run rate of gross transactions will cross Rs 1,000 crore by the end of the calendar year.For cab aggregators, transaction value is not the same as revenue. Aggregators get 20% or less of the collections, with drivers getting the rest. That would mean Uber’s revenue is less than Rs 80 crore.Asked about the run rate of gross transaction value, Uber’s communications lead for South Asia Karun Arya said, “We don’t ever share this type of data externally. All I can tell you is that the figure you have is grossly inaccurate.”