No obvious threat, says Eternal CEO Goyal on new entrants in food delivery space
This follows ride-hailing platform Rapido getting ready to roll out the pilot of its food delivery app, Ownly, in Bengaluru in the next few days, starting with Koramangala, HSR, and Sarjapur localities. Rapido is charging 8-15% commission from restaurants, compared to 16-30% by rivals Zomato and Swiggy.
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Hindustan Times
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- Hindustan Times
'What is this behavior Namma Metro?': Bengaluru man triggers meme fest by bagging 'best offer', saving ₹0
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India.com
4 hours ago
- India.com
Rs 20000000000 earned in just 2 days! Blinkit makes Deepinder Goyal even richer by..., beats BIG companies like Wipro, Tata Motors, others
BIG trouble for Deepinder Goyal as internal whistleblower alleges... Zomato CEO responds, says.... Deepinder Goyal, one of India's modern business icons, is once again in the news. His company, Eternal, has seen a big jump in its share price and the reason behind this sudden rise is its quick commerce business, Blinkit. Because of this sharp rally, Goyal's personal wealth has gone up by nearly Rs. 2,000 crore in just two days. In the last two trading sessions, Eternal's shares have increased by over 21 per cent. On the NSE, the stock even hit an all-time high of Rs. 311.60. This strong performance has pushed Eternal's market value beyond Rs. 3 lakh crore, making it more valuable than big names like Wipro, Tata Motors, Nestlé, and Asian Paints. Deepinder Goyal's net worth crosses Rs. 11,500 crore Deepinder Goyal, who is 42 years old, owns 3.83 per cent of Eternal. Thanks to the rise in the share price, his total wealth has now crossed Rs. 11,515 crore. According to Forbes, his net worth is now about USD 1.9 billion, placing him among the fastest-growing entrepreneurs in India. The rise in Eternal's share price The rise in Eternal's share price is not random as the biggest reason behind it is the growth of its quick delivery business, Blinkit. According to reports, Blinkit's net order value (NOV) has now become bigger than Zomato's food delivery business. Eternal's success is also helping its competitors and investors. For example, Swiggy's shares jumped 7 per cent in a single day. Info Edge, which owns 12.38 per cent of Eternal, saw its stock price rise by more than 3 per cent. Now, Eternal is planning to open 3,000 Blinkit stores in the future, though the exact time of the plan has not been revealed yet. Who is Deepinder Goyal and how did he start Zomato? Deepinder Goyal is the co-founder and CEO of Zomato. He started the company in 2008 along with his friend Pankaj Chaddah. At first, the website was called Foodiebay. It simply showed menus of different restaurants. The idea came to him when he was working at Bain & Company. He noticed that people in his office often struggled to find restaurant menus during lunch. That's when he got the idea as to why not put all the menus of the restaurants in one platform? Later in 2010, the company was renamed Zomato, and it slowly became a popular name in the food industry. What was Deepinder Goyal's early life and education like? Deepinder Goyal was born on 26 January 1983 in a small village in Punjab. He did his schooling in Chandigarh. After that, from 2000 to 2005, he studied at IIT Delhi, where he earned a degree in Mathematics and Computing. After college, he got a job at Bain & Company, a global consulting firm. That's where his journey toward starting Zomato began. What services does Zomato offer today? Today, Zomato offers many useful services in India and the UAE. It helps people order food online, book tables at restaurants, and read reviews written by other customers. In 2022, Zomato also bought Blinkit (which was earlier called Grofers). Blinkit delivers groceries and daily essentials in just 10 minutes.
Time of India
4 hours ago
- Time of India
Explained: How Zomato's Deepinder Goyal became Rs 2,000 crore richer in just 2 days
Deepinder Goyal, the Zomato CEO, is once again making headlines as the billionaire's net worth has jumped by around Rs 2000 crore in just 2 days. According to an ET report, following a blistering rally in Eternal shares, Deepinder Goyal got Rs 2,000 crore richer in just 2 days, on Tuesday. As per the report, the investors have reacted positively to the rapid expansion of Blinkit, the quick commerce division of Eternal, leading to a surge of over 21 per cent in the company's shares over the past two days. The stock even reached a new all-time high of Rs 311.60 on the NSE. Eternal's 42-year-old founder and CEO, Goyal, who is a self-made billionaire, has seen the value of his 3.83 per cent stake in the company rise to Rs 11,515 crore as a result of it. Deepinder Goyal's net worth is now estimated to be $1.9 billion According to Forbes's list of real-time billionaires, the IITians' net worth is $1.9 billion (Rs 15,820 crore). Meanwhile, during the whole day, the Eternal shares surpassed the R 3 lakh crore market capitalisation mark. Additionally, now it is more valuable than the likes of Wipro, Tata Motors, Nestlé, and Asian Paints. The impact was not only seen on Blinkit, but the boom in Eternal share also positively impacted the rival company Swiggy, which rallied over 7 per cent during the day. How did Zomato's Deepinder Goyal add Rs 2000 crore as Eternal shares hit a record? On Tuesday, shares of Eternal jumped over 21 per cent in the past 48 hours, hitting a new record high of Rs 311.60 on the NSE, reported India Today. The rally came despite the company reporting a 90 per cent year-on-year fall in its consolidated net profit for the quarter ended June 2025 (Q1FY26). The net profit stood at Rs 25 crore, down from Rs 253 crore in the same period of the previous year. Following the release of Eternal's first-quarter financial year 2026 earnings, the share price experienced a significant rise. In the first quarter of FY26, Zomato's parent business reported a 90 per cent year-over-year drop in net profit to Rs 25 crore. However, during the reviewed quarter, its operating revenue rose by 70 per cent year over year to Rs 7,167 crore. The increase in Eternal's share price was further reinforced by positive management remarks. Revenue generated from the food delivery segment rose by over 16 per cent For Q1 FY26, the company noted a rapid commerce revenue of Rs 2,400 crore, up approximately 155 per cent YoY from Q1 FY25's revenue of Rs 942 crore. The meal delivery segment's revenue increased by more than 16 per cent year over year to Rs 2,261 crore. FAQs Q. What does this mean for Eternal? The spike in share price pushed Eternal's market capitalisation past Rs 3 lakh crore, making it more valuable than rival companies Wipro, Tata Motors, Nestle, and Asian Paints. Q. How many shares does Deepinder Goyal have? The sudden rally transition translated into a significant wealth gain for Eternal CEO Deepinder Goyal, who holds nearly 369,471,500 shares in the company. For the latest and more interesting financial news, keep reading Indiatimes Worth.
