Latest news with #Hyperpure
Entrepreneur
21-07-2025
- Business
- Entrepreneur
Zomato Parent Eternal's Profit Tanks 90% as Expenses Take a Big Bite
Eternal's expenses stood at INR 7,433 crore, up by 77 per cent. The company's revenue from operations for Q1 of FY26 stood at INR 7,167 crore, up by 70.4 per cent from INR 4,206 crore in the corresponding quarter. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Zomato's parent company, Eternal, on Monday, reported a steep 90 per cent fall in its net profit, a YoY INR 25 crore compared to the INR 253 crore reported a year ago for the same period. The company's revenue from operations for Q1 of FY26 stood at INR 7,167 crore, up by 70.4 per cent from INR 4,206 crore in the corresponding quarter. Eternal's expenses stood at INR 7,433 crore, up by 77 per cent. Eternal's quick-commerce company Blinkit's revenue stood at INR 2,400 crore for Q1, recording an uptick of nearly 154 per cent from INR 942 crore announced in Q1FY25. The food delivery arm's revenue saw a rise of 16 per cent to INR 2,261 crore. Eternal's B2B business, Hyperpure's Revenue grew 89 per cent YoY (25 per cent QoQ). Eternal has also said that it will transition its quick commerce business from a marketplace model to inventory ownership over the next 2-3 quarters. "Our teams are well prepared for this transition, and we expect to start working with brands directly without any disruption to the business. Control over inventory gives us more leverage on margins in the business, plus allows us to push harder and faster on assortment 6 expansion. We expect to see about a 1 percentage point margin expansion over time as a result of this transition. As an outcome of this transition, we will also see shrinkage in Hyperpure's non-restaurant business, as most of the B2B buyers in that business were sellers on our quick commerce platform," said Akshant Goyal, CFO, Zomato. Eternal has also announced that its board has approved the incorporation process of Blinkit Foods, its wholly-owned subsidiary, with a proposed share capital of INR 10 lakh. The company said, "Blinkit Foods is proposed to be incorporated as a wholly owned subsidiary and would inter alia engage in the business of providing food services (including innovation, preparation, sourcing, sale and delivery of food to customers)." Earlier this month, the company announced the appointment of Aditya Mangla as the CEO of the Food ordering and delivery business and SMP at Eternal. Deepinder Goyal, Founder, Managing Director & Chief Executive Officer, Eternal, said that the decision comes from its operational model that they call "Rotational Leadership," where the CEO role of each business is time-bound, typically for a two-year term. "Rotational Leadership is not about changing faces; it changes how decisions get made. Leaders move with urgency, knowing their window to create impact is finite. It reduces complacency, accelerates execution, and allows more diverse leadership styles to emerge. Over time, it also builds organisational muscle memory, as teams learn to operate independently of any one person, making us more resilient and adaptable as we grow," said Goyal. Eternal's shares on Monday were listed at INR 271.20, on BSE, up by 5.38 per cent despite the announcement of a steep decline in profits.
News18
21-06-2025
- Business
- News18
Swiggy Makes Foray Into Concierge Segment Under Brand Name 'Crew'; Details Here
Last Updated: Swiggy's Crew offers highly personalised services, including assistance with international driving permits, bespoke travel planning, and curated gift sourcing within budgets. Swiggy has entered the lifestyle and travel concierge space with the beta launch of a new app called Crew, aimed at catering to India's growing base of premium consumers. Currently available to select users on both the Apple App Store and Google Play Store, Crew is being developed under Swiggy's parent company, Bundl Technologies Pvt Ltd. The app offers highly personalised services, including assistance with international driving permits, bespoke travel planning, and curated gift sourcing within specific budgets. Crew is Swiggy's latest push to diversify its offerings beyond food delivery and marks its second known attempt to reach affluent users. Last year, Swiggy piloted Rare Life, a subscription-based premium concierge service that provided access to high-end experiences. While Rare Life never became a standalone app, Crew appears to be a more formal and structured initiative. On the B2B front, Swiggy also rolled out Assure, a procurement platform enabling restaurants to source kitchen and pantry supplies, directly competing with Zomato's Hyperpure. First Published: June 21, 2025, 09:18 IST
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Business Standard
17-05-2025
- Business
- Business Standard
Zomato's parent firm inks 5-yr office lease deal in Andheri for Rs 95 cr
Eternal Ltd, the rebranded parent company of Zomato, Blinkit, Hyperpure, and District, has leased office space in Mumbai's Andheri East for a monthly rent of Rs 1.34 crore, according to property documents accessed by CRE Matrix, a data-driven real estate firm. The company has leased six commercial units totaling 84,157 sq ft on the sixth floor of the R Square office complex near JB Nagar. This lease includes 57 parking slots and commenced on May 1, 2025, as per the documents. The lease agreement spans five years, featuring a fixed monthly rent of Rs 160 per sq ft for the first three years, followed by a 15 per cent escalation thereafter. Over the lease term, the total payout is estimated at Rs 95 crore, inclusive of maintenance charges. The property is owned by Histyle Retail Pvt Ltd, a subsidiary of Runwal Realty. Key Details of the Lease Total Area: 84,157 sq. ft. Monthly Rent (Starting): ₹1,34,65,120 Rent per sq. ft.: ₹160 Security Deposit: ₹8.08 crore Registration Date: 9 May 2025 Number of Car Parkings: 57 Lease Term: 5 years Escalation Clause: 15 per cent rent hike after three years Total Lease Outgo (estimated): ₹95 crore (including maintenance) Andheri East is rapidly becoming a preferred destination for corporates, thanks to its proximity to the Western Express Highway, Mumbai Metro, suburban railways, and easy access to the Chhatrapati Shivaji Maharaj International Airport. The R Square building, where the lease has been registered, offers modern Grade-A office infrastructure, which aligns with Eternal's goal of providing premium workspaces for its growing teams across food delivery, quick commerce, and B2B supply verticals. Eternal Limited's portfolio includes Zomato, its flagship food delivery business; Blinkit, a rapidly expanding quick-commerce platform for groceries and daily essentials; Hyperpure, a B2B supply chain service that supplies fresh produce and ingredients to restaurants; and District, a ticketing and events discovery app.
Time of India
01-05-2025
- Business
- Time of India
Over 60% of Hyperpure's revenue now comes from non-restaurant businesses: Zomato
Zomato parent Eternal has, for the first time, disclosed a revenue breakdown for its B2B grocery supply arm Hyperpure , revealing that 62% of its Q4FY25 revenue came from non-restaurant businesses—primarily sellers on Blinkit. #Pahalgam Terrorist Attack Nuclear Power! How India and Pakistan's arsenals stack up Does America have a plan to capture Pakistan's nuclear weapons? Airspace blockade: India plots a flight path to skip Pakistan Hyperpure, originally built to supply farm-to-fork groceries to restaurants, has rapidly expanded to serve non-restaurant clients—largely driven by demand from Blinkit's growing seller base. In the January–March quarter, Hyperpure clocked total revenue of Rs 1,840 crore, up 93% year-on-year. Of this: • Rs 1,142 crore came from non-restaurant businesses (up 166% YoY) • Rs 698 crore came from restaurant businesses (up 34% YoY) 'Non-restaurant businesses currently comprise B2B sales of mainly fresh food and staples to sellers on the Blinkit marketplace,' CFO Akshant Goyal said in a letter to shareholders. 'We got into this business opportunistically post the Blinkit acquisition, and have seen it scale rapidly alongside the quick commerce business.' Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories While adjusted Ebitda losses were minimal for non-restaurant businesses at Rs 1 crore, the core restaurant segment reported a Rs 21 crore loss for the quarter. To boost the slower-growing restaurant business, Goyal said Hyperpure is adding value-added services including new product categories, sub-4-hour delivery, inter-city logistics, and 4P fulfilment solutions tailored for restaurant partners. 'On the profitability front, while this business operates near break-even, we are yet to figure out the true long-term margin potential—especially given its pureplay B2B trading nature,' Goyal noted. Meanwhile, competition is heating up. Last month, Zomato rival Swiggy launched a competing B2B platform called Assure, aimed at supplying kitchen essentials to restaurants, caterers, and hotels—directly challenging Hyperpure's turf.
Time of India
01-05-2025
- Business
- Time of India
Q4 results today: Adani Enterprises, Eternal among 14 companies to announce earnings on Thursday
Indian companies are gearing up to release their Q4 earnings, with Adani Enterprises and Adani Ports among the key names. Indian companies are gearing up to release their Q4 earnings, with Adani Enterprises and Adani Ports among the key names. All eyes are on Eternal, formerly Zomato, which is expected to reveal strong revenue growth, fueled by Hyperpure and Blinkit. However, profitability might suffer, with analysts predicting a potential profit dip or even a loss. Tired of too many ads? Remove Ads Eternal Q4 expectations Tired of too many ads? Remove Ads The fourth quarter earnings season is picking up momentum and on Thursday as many as 52 companies will announce their quarterly numbers. Key earnings to watch out include from Adani Enterprises Eternal and Home First Finance Apart from the above, Bondada Engineering , Lalchandani Labs, Jaiprakash Power Ventures Paushak among others will also declare their formerly known as Zomato, is likely to report solid revenue growth in the fourth quarter, but the profitability is likely to take a severe hit. Analysts expect March quarter revenue growth to come in at 62% YoY, with a solid contribution from Hyperpure and Blinkit are varied estimates for profit. For instance, brokerage Kotak is estimating a PAT fall of nearly 83% to Rs 29.7 crore from Rs 175 crore posted in the year-ago quarter. Nuvama, meanwhile, is expecting a loss of Rs 36 sees the food delivery business revenues growing 19% YoY, while that of Hyperpure and Blinkit are likely to jump 84% YoY and 104% YoY, respectively."We model 10 bps QoQ expansion in consolidated margins of food delivery business to 8.6% in 4Q; coupled with GMV increase, this will result in 4.3% EBITDA margin as % of GMV for this segment," the brokerage Oswal sees the overall revenue growing at 64% YoY in 4QFY25. "For food delivery, adjusted EBITDA as a % of GOV margin is expected to inch up 40bp QoQ to 4.7%," it said. The food delivery revenue will be driven by volume growth.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
