Deepinder Goyal reveals why slowdown won't affect Zomato, expects food delivery sector to grow over...

Deepinder Goyal, Founder and CEO of Eternal (formerly Zomato), was recently honoured with the Resilient CEO Award at the 13th edition of BT India’s Best CEOs awards. This recognition highlights his leadership in ensuring profitability and growth, leading to Eternal becoming the first new-age company to be included in the BSE Sensex in 2024.

In an interview with Business Today, Goyal discussed the company’s journey toward profitability. He emphasised that while turning profitable is crucial, Eternal’s focus has always been on doing the right thing for long-term growth. With businesses like food delivery and Blinkit achieving profitability at the right time, he remains optimistic about sustained expansion.

Addressing concerns about slowing growth in some sectors, Goyal stated that Eternal’s businesses—food delivery, grocery, and retail—are not experiencing a slowdown. He expects the food delivery sector to continue growing at over 20% year-on-year, given its early-stage market position.

Goyal also explained the rationale behind renaming Zomato to Eternal, calling it a cultural mission to build an enduring organisation. He believes that long-lasting companies remain relevant by fostering innovation and adaptability rather than being tied to a specific business model.

On the future of food delivery, Goyal acknowledged changing consumer expectations for faster service. While quick commerce has reshaped delivery timelines, he admitted that food delivery under 10-15 minutes remains a challenge. However, he hinted at ongoing efforts to improve speed where feasible.

Regarding the recent acquisition of Paytm’s entertainment ticketing business, Goyal revealed plans to integrate dining and entertainment into one seamless app experience. By consolidating going-out activities like dining, movie-watching, and live events, Eternal aims to become the go-to platform for users stepping out of their homes.