Latest news with #Qmin
Time of India
11-06-2025
- Business
- Time of India
BigBasket to launch 10-minute food delivery across India by March 2026, executive says
HighlightsIndia's BigBasket plans to launch 10-minute food delivery services nationwide by the end of fiscal 2026 to compete in the rapidly growing $7.1 billion quick-commerce market. The grocery giant aims to increase its dark store count from approximately 700 to between 1,000 and 1,200 by the end of 2025, using these locations to expedite deliveries. BigBasket will offer a menu featuring items from Starbucks and Qmin, the food arm of Indian Hotels, while avoiding partnerships with external restaurants. India's BigBasket plans to roll out 10-minute food delivery services nationwide by the end of fiscal 2026 as competition intensifies in the $7.1 billion quick-commerce space, its executive told Reuters on Tuesday. The Tata-backed grocery giant will take on established players such as Swiggy 's Snacc, Blinkit's Bistro and Zepto Cafe, which already deliver coffee and ready-to-eat snacks in less than 15 minutes. BigBasket is targeting customers of the existing food delivery firms such as Zomato and Swiggy while also unlocking a new pool of customers, co-founder Vipul Parekh told Reuters. It plans to use dark stores to fuel the service, Parekh added, extending its foothold in India's booming quick-commerce market, which Blume Venture's Indus Valley report calls the " fastest-growing industry segment ever." Dark stores are small warehouses in densely populated neighbourhood buildings, where delivery partners, typically two-wheeler riders, pick up groceries or food for delivery. BigBasket, which brought online grocery delivery service to India in 2011, aims to increase its dark store count from about 700 currently to 1,000-1,200 by the end of 2025. Following a pilot run that began a month ago in the southern city of Bengaluru, the food delivery service will now be expanded to 40 dark stores by July-end, Parekh said. Currently, about 5%-10% of BigBasket's customers who are offered the service are clubbing quick-food items with their normal online orders, but this is expected to grow further, he added. The menu will comprise items from coffee chain Starbucks and Indian Hotels' food arm Qmin, both part of the Tata group in India. No external restaurants will be partnered with, the firm said. Meanwhile, Parekh dismissed media reports of BigBasket seeking external investors for fundraising and reiterated the company's plan to go public within the next 18-24 months. "One of the advantages we have is, being a part of Tata Group, you have enough internal capital available."
Time of India
02-06-2025
- Business
- Time of India
BigBasket pilots 10-minute food delivery with Starbucks, Qmin in Bengaluru
Grocery delivery firm BigBasket has entered the rapid food delivery segment, providing 10-minute food delivery service in select locations in Bengaluru . It comes five months after cofounder and chief executive Hari Menon announced on X that the Tata Group-owned firm was expanding its services to food delivery in 2025. He had said in a post in December 2024 that BigBasket would increase its stock keeping units to more than 30,000 in all tier-1 cities, launch pharma deliveries with Tata 1mg, as well as launch a food delivery service. Currently, BigBasket's 10-minute food delivery includes items from Starbucks , a joint venture between Tata Consumer Products and Starbucks Corporation, and Qmin , a food delivery platform owned by Indian Hotels Company Limited (IHCL). Launched in 2020, Qmin is Tata Sons-owned IHCL's food delivery service, which has its own app allowing customers to order food from Tata-owned hotels and restaurants. The service also has Qmin cafe offering bakery and confectionery products along with beverage items across the country. There are 11 such cafes in Bengaluru. Under its 10-minute food delivery service, BigBasket is offering beverages such as coffee, tea and juice, snacks, meal bowls and desserts. ET had reported in February that Tata Sons wasn't too pleased with what it regarded as BigBasket's sluggish response to the rapid rise of quick commerce in the country. Tata Sons also indicated that BigBasket should seek external investors for a proposed round of $1 billion (Rs 8,556 crore) to mount a fightback in this segment, according to people aware of the matter. 10-minute food delivery race Meanwhile, the rapid food delivery segment is seeing increasing demand as quick commerce platforms Zepto (Zepto Cafe), Swiggy (Snacc) and Blinkit (Bistro) are expanding their services and offerings. During its earnings announcement for the fourth quarter of 2024-25, Zomato 's parent Eternal said that it was doubling down on Bistro, its in-house rapid food delivery service, and pivoting away from restaurant partnerships for this service. Bistro is being expanded across Delhi-National Capital Region, Bengaluru and Mumbai, according to people in the know. Bistro now runs more than 100 kitchens in these markets. Swiggy , on the other hand, is scaling up its 10-minute food delivery service Bolt , which relies on select restaurant partners offering limited menus. It also has an offering similar to Bistro, which is called Snacc. On May 23, ET reported that Zepto paused operations of its 10-minute food delivery vertical, Zepto Cafe, in several cities including Delhi, Agra, Chandigarh, Mohali, Amritsar and Meerut owing to supply chain issues. This impacted the operations of 44 Zepto Cafe stores.
Time of India
31-05-2025
- Business
- Time of India
BigBasket pilots 10-minute food delivery with Starbucks, Qmin in Bengaluru
Live Events Grocery delivery firm BigBasket has entered the rapid food delivery segment, providing 10-minute food delivery service in select locations in Bengaluru It comes five months after cofounder and chief executive Hari Menon announced on X that the Tata Group-owned firm was expanding its services to food delivery in 2025. He had said in a post in December 2024 that BigBasket would increase its stock keeping units to more than 30,000 in all tier-1 cities, launch pharma deliveries with Tata 1mg, as well as launch a food delivery BigBasket's 10-minute food delivery includes items from Starbucks, a joint venture between Tata Consumer Products and Starbucks Corporation, and Qmin , a food delivery platform owned by Indian Hotels Company Limited (IHCL).Launched in 2020, Qmin is Tata Sons-owned IHCL's food delivery service, which has its own app allowing customers to order food from Tata-owned hotels and restaurants. The service also has Qmin cafe offering bakery and confectionery products along with beverage items across the country. There are 11 such cafes in its 10-minute food delivery service, BigBasket is offering beverages such as coffee, tea and juice, snacks, meal bowls and had reported in February that Tata Sons wasn't too pleased with what it regarded as BigBasket's sluggish response to the rapid rise of quick commerce in the country. Tata Sons also indicated that BigBasket should seek external investors for a proposed round of $1 billion (Rs 8,556 crore) to mount a fightback in this segment, according to people aware of the the rapid food delivery segment is seeing increasing demand as quick commerce platforms Zepto (Zepto Cafe), Swiggy (Snacc) and Blinkit (Bistro) are expanding their services and its earnings announcement for the fourth quarter of 2024-25, Zomato 's parent Eternal said that it was doubling down on Bistro, its in-house rapid food delivery service, and pivoting away from restaurant partnerships for this service. Bistro is being expanded across Delhi-National Capital Region, Bengaluru and Mumbai, according to people in the know. Bistro now runs more than 100 kitchens in these on the other hand, is scaling up its 10-minute food delivery service Bolt, which relies on select restaurant partners offering limited menus. It also has an offering similar to Bistro, which is called May 23, ET reported that Zepto paused operations of its 10-minute food delivery vertical, Zepto Cafe, in several cities including Delhi, Agra, Chandigarh, Mohali, Amritsar and Meerut owing to supply chain issues. This impacted the operations of 44 Zepto Cafe stores.
Yahoo
07-05-2025
- Business
- Yahoo
Indian Hotels Company Earnings: Loyalty Gains, Last-Minute Travel, Direct Bookings
Indian Hotels Company Limited (IHCL) reported its highest-ever full-year performance in fiscal 2025, driven by solid domestic travel demand and limited additions to hotel supply. 'Strong domestic business travel demand, coupled with mega wins like the Kumbh Mela, international music concerts like Coldplay and a strong wedding season, were the key demand drivers this year,' IHCL CEO Puneet Chhatwal said at an earnings call on Monday. Those factors helped room-night sales grow 6% industry-wide, even as new room supply expanded by less than 3% year-on-year, allowing hotels in the country to fill more beds at higher rates. IHCL re-affirmed its 'Accelerate 2030' vision to operate 700 properties by the decade's end. The company had 74 new signings and opened 26 hotels last year, from luxury flagships under the Taj banner to mid-market stays with Ginger and Vivanta. Chhatwal said the company plans to invest over INR 12 billion (approximately $142 million) in fiscal 2026. This includes asset upgrades, new projects, and investments focused on the Taj brand and digital infrastructure. Reviving the Inbound Story While domestic tourism has been strong, India has struggled to lift inbound tourism, an issue that Skift and Skift Research have documented. Now, IHCL is placing more emphasis on attracting international travelers. Referencing projections of 28 million foreign arrivals by 2030 — a nearly 40% increase over pre-pandemic levels—Chhatwal noted the potential for growth in inbound tourism. The company has allocated INR 250 million ($3 million) over three years to promote India abroad. IHCL is also offering more flexible booking policies and inclusive pricing to encourage travel agents to increase inbound bookings. The Last-Minute Traveler, Loyalty, and Direct Bookings One insight that has resonated through 10 straight quarters: booking windows are shrinking. Outside peak seasons, like school holidays, summer breaks and Christmas holidays, Indian travelers are planning getaways as little as 12–24 hours in advance, Chhatwal said. Post-pandemic shifts toward spontaneous, self-driven road trips have driven this 'last-minute' phenomenon, and IHCL expects this to persist as Indians travel more than ever before. Beyond its core hotels, IHCL's 'new and reimagined' ventures are scaling fast. Qmin, the company's grab-and-go food concept spun off from Ginger, has expanded to 72 outlets. In addition to serving the F&B brand for Ginger Hotels, Qmin has also established a presence in retail through its partnership with WestSide stores in Mumbai and Bengaluru in a shop-in-shop format. Qmin has also launched at Chennai, Kolkata and Bengaluru Airports in partnership with TFS.
Skift
05-05-2025
- Business
- Skift
Indian Hotels Company Earnings: Loyalty Gains, Last-Minute Travel, Direct Bookings
Domestic travel may be IHCL's golden goose right now, but it's still keen to bring in foreign tourists. Indian Hotels Company Limited (IHCL) reported its highest-ever full-year performance in fiscal 2025, driven by solid domestic travel demand and limited additions to hotel supply. 'Strong domestic business travel demand, coupled with mega wins like the Kumbh Mela, international music concerts like Coldplay and a strong wedding season, were the key demand drivers this year,' IHCL CEO Puneet Chhatwal said at an earnings call on Monday. Those factors helped room-night sales grow 6% industry-wide, even as new room supply expanded by less than 3% year-on-year, allowing hotels in the country to fill more beds at higher rates. IHCL re-affirmed its 'Accelerate 2030' vision to operate 700 properties by the decade's end. The company had 74 new signings and opened 26 hotels last year, from luxury flagships under the Taj banner to mid-market stays with Ginger and Vivanta. Chhatwal said the company plans to invest over INR 12 billion (approximately $142 million) in fiscal 2026. This includes asset upgrades, new projects, and investments focused on the Taj brand and digital infrastructure. Reviving the Inbound Story While domestic tourism has been strong, India has struggled to lift inbound tourism, an issue that Skift and Skift Research have documented. Now, IHCL is placing more emphasis on attracting international travelers. Referencing projections of 28 million foreign arrivals by 2030 — a nearly 40% increase over pre-pandemic levels—Chhatwal noted the potential for growth in inbound tourism. The company has allocated INR 250 million ($3 million) over three years to promote India abroad. IHCL is also offering more flexible booking policies and inclusive pricing to encourage travel agents to increase inbound bookings. The Last-Minute Traveler, Loyalty, and Direct Bookings One insight that has resonated through 10 straight quarters: booking windows are shrinking. Outside peak seasons, like school holidays, summer breaks and Christmas holidays, Indian travelers are planning getaways as little as 12–24 hours in advance, Chhatwal said. Post-pandemic shifts toward spontaneous, self-driven road trips have driven this 'last-minute' phenomenon, and IHCL expects this to persist as Indians travel more than ever before. Beyond its core hotels, IHCL's 'new and reimagined' ventures are scaling fast. Qmin, the company's grab-and-go food concept spun off from Ginger, has expanded to 72 outlets. In addition to serving the F&B brand for Ginger Hotels, Qmin has also established a presence in retail through its partnership with WestSide stores in Mumbai and Bengaluru in a shop-in-shop format. Qmin has also launched at Chennai, Kolkata and Bengaluru Airports in partnership with TFS. IHCL's loyalty program Tata Neu surpassed 10 million members in fiscal 2025. Also, bookings made via direct channels jumped 43% to over INR 22 billion ($261 million), highlighting the growing appeal of an integrated, app-centric loyalty ecosystem. IHCL Financials Revenue: Consolidated total revenue surged 23% year-on-year to INR 85.6 billion ($1,016 million) for fiscal 2025, with the fourth-quarter revenue climbing 27% to INR 25 billion ($295 million). Consolidated total revenue surged 23% year-on-year to INR 85.6 billion ($1,016 million) for fiscal 2025, with the fourth-quarter revenue climbing 27% to INR 25 billion ($295 million). EBITDA: EBITDA for fiscal 2025 reached a record INR 30 billion ($356 million), up 28% from the previous year, while the corresponding fourth quarter figure rose 30% to INR 9.2 billion ($109 million). Overall EBITDA margin expanded to 35% for the year and 37% for the quarter. EBITDA for fiscal 2025 reached a record INR 30 billion ($356 million), up 28% from the previous year, while the corresponding fourth quarter figure rose 30% to INR 9.2 billion ($109 million). Overall EBITDA margin expanded to 35% for the year and 37% for the quarter. Profit After Tax: Profit after tax jumped by 63% to INR 19.6 billion ($233 million) for fiscal 2025 (including a one-off exceptional gain of INR 3 billion ($36,2 million). The fourth quarter PAT increased 37% to INR 5.4 billion ($64 million). What am I looking at? The performance of hotels and short-term rental sector stocks within the ST200. The index includes companies publicly traded across global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more hotels and short-term rental financial sector performance. Read the full methodology behind the Skift Travel 200.
