Latest news with #DeepinderGoyal
India.com
a day ago
- Business
- 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
a day ago
- Business
- 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.
India Today
a day ago
- Business
- India Today
Deepinder Goyal adds Rs 2,000 crore as Eternal shares hit record high
Zomato founder Deepinder Goyal saw his wealth rise by Rs 2,000 crore in just two days, thanks to a sharp rally in the shares of Eternal, the parent company of Zomato and of Eternal jumped over 21% in the last 48 hours, hitting a new record high of Rs 311.60 on the NSE on rally came despite the company reporting a 90% year-on-year fall in its consolidated net profit for the quarter ended June 2025 (Q1FY26). Net profit stood at Rs 25 crore, down from Rs 253 crore in the same period last who owns a 3.83% stake in Eternal, now has an estimated net worth of around Rs 11,515 crore ($1.9 billion). The 42-year-old IIT graduate became Rs 2,000 crore richer in just 48 hours as Eternal's market value crossed Rs 3 lakh crore. With this, Eternal has now overtaken companies like Wipro, Tata Motors, Nestle, and Asian Paints in terms of market of the growth in Eternal's stock is being driven by the quick-commerce platform Blinkit, which has now overtaken Zomato in net order value (NOV). This marks a major shift in the company's business focus and market strong stock movement has also positively impacted investor sentiment across the board. Rival food delivery platform Swiggy saw its stock price rise by more than 7%. Info Edge, which holds a 12.38% stake in Eternal, also gained around 3%, with its Eternal holding now contributing to more than one-third of its own market houses have turned positive on Eternal's outlook. Jefferies upgraded the stock to a 'Buy' and raised its target price to Rs 400. The global brokerage admitted it had earlier overestimated competition in the quick-commerce to Jefferies, 'Eternal is a play on the growing food services industry in India and increasing adoption of digital commerce. With only about 23 million monthly transacting users at present, Zomato's food delivery business still has a lot of room to grow. Blinkit is now the market leader in the fast-growing quick-commerce segment and is likely to show better profit margins going forward.'Domestic brokerage Motilal Oswal also maintained a 'Buy' rating on Eternal, raising the target price to Rs 330 from Rs 310. The brokerage noted that losses in quick commerce are now stabilising and Blinkit's strong performance, gross order value (GOV) up 140% year-on-year, is pushing it also pointed out that net profit for Q1FY26 was lower than expected (Rs 25 crore versus Rs 270 crore forecast). Still, Motilal Oswal expects Eternal's revenue to grow by 66% and its adjusted EBITDA to rise 15% in the second quarter of FY26 compared to the same period last year.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends advertisement
Economic Times
2 days ago
- Business
- Economic Times
Two Sharp with ET: Goyal becomes billionaire on Blinkit boost; Court finds Kochhar guilty
Deepinder Goyal became a billionaire overnight as Eternal's quick commerce arm, Blinkit, drove a record rally, adding ₹2,000 crore to his net worth. But while one star rose, another fell: Chanda Kochhar, India's former banking queen, was found guilty of bribery, in a sharp turn of fortune over a big week. All of this in today's Two Sharp with ET with Nisha Poddar Show more Show less
News18
2 days ago
- Business
- News18
Eternal Shares Surge 20% In 2 Days, CEO Deepinder Goyal's Wealth Up by Rs 1600 Crore
Last Updated: Shares of Eternal, parent company of Zomato and Blinkit, surged nearly 15% on July 22, hitting an all-time high of Rs 311.25 on the NSE. Eternal Share Price: Shares of Eternal, the parent company of Zomato and Blinkit, soared nearly 15% on July 22 to hit an all-time high of Rs 311.25 on the NSE. The sharp rise extended a two-day rally, pushing the stock up over 20%, and adding nearly Rs 40,000 crore to the company's market value in just two sessions. The rally came on the back of a strong June quarter earnings report, which boosted investor confidence. CEO Deepinder Goyal Sees Major Wealth Boost The surge in share price led to a big jump in the net worth of Eternal CEO Deepinder Goyal, who owns 36.94 crore shares in the company. When the earnings were announced, Eternal shares were at Rs 266. With the stock reaching Rs 311 during today's trade, Goyal's wealth increased by more than Rs 1600 crore. By the end of the session, Eternal shares closed at Rs 299.75, up 10.32% for the day. At this closing price, Goyal's stake was valued at approximately Rs 11,071.86 crore as of July 22. With this rally, Eternal's market cap crossed Rs 3 lakh crore, putting it ahead of over 20 Nifty 50 companies such as Wipro, Tata Motors, JSW Steel, Nestle India, Coal India, Bajaj Auto, Asian Paints, Eicher Motors, Tech Mahindra, and Cipla. The spike came despite the company reporting a steep 90.12% year-on-year drop in consolidated net profit for the June 2025 quarter (Q1 FY26), which stood at Rs 25 crore compared to Rs 253 crore in the same period last year. While profits dipped sharply, revenue from operations jumped 70.4% year-on-year to Rs 7,167 crore, primarily driven by strong growth in the company's quick commerce arm, Blinkit. Eternal's B2C Net Order Value (NOV) surged 55% YoY to Rs 20,183 crore, with Blinkit surpassing food delivery for the first time. Consolidated adjusted revenue rose 67% YoY to Rs 7,563 crore. Despite top-line growth, profitability was impacted by ongoing investments. Adjusted EBITDA declined 42% YoY to ₹172 crore, reflecting higher spends on Blinkit and the company's expanding 'going-out" segment. Food delivery margins held steady at 5% of NOV, despite seasonal softness. CEO Deepinder Goyal acknowledged the challenges but expressed cautious optimism: 'I think the YoY growth is likely to bottom out now as we recover from the demand slowdown we started seeing in late 2024. For FY26, it looks unlikely that the business will deliver 20%-plus NOV growth, but we should be north of 15% and hopefully trending toward 20% in FY27." During the quarter, Blinkit added 243 new stores and saw its NOV rise 127% YoY. The company also began transitioning Blinkit to an inventory-led model, which is expected to enhance both margins and revenue. Profitability in smaller cities was described as encouraging. Meanwhile, the going-out vertical — now a Rs 8,000 crore annualized NOV business — continues to expand, bolstered by recent acquisitions in ticketing and events. Eternal ended the quarter with a cash balance of Rs 18,857 crore. Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
