Foodpanda says no to getting out of biz, eyes profit by 2019

Foodpanda says no to getting out of biz, eyes profit by 2019

Foodpanda says no to getting out of biz, eyes profit by 2019

Dusting off rumours about selling its India business, in an already troubled industry, Foodpanda has claimed to have achieved operational profitability, last month.

Further, the company is on its way to become profitable by 2019, said Saurabh Kochhar, CEO (India), Foodpanda. 

“2015 was a great year for us. We grew 10 times in size, and started to mature.

Last month, we hit operational profits, and by 2019, we will be a profitable company,” he said. 

The company recently launched its ‘Foodpanda Express Meals’ in Delhi, and plans to launch the same in Bengaluru by mid-March. The express meal is quick combo meal service that is delivered within 30 minutes, and offers two options — North Indian cuisine and Chinese cuisine.   

 “The combos are served in artistic tower boxes, stored in high grade round plastic containers placed inside the towers that will eliminate the hassle of plating,” he said, adding that these boxes are the company’s differentiated and unique offering.  The company plans a similar approach for Bengaluru. With 12,000 restaurants in its network and 70,000 orders processed on a daily basis, the company earns 15-25 per cent on every delivery. Last year, the company expanded its activities to offer delivery services. “At present, about 30 per cent of the delivery services in Bengaluru, Delhi, Gurgaon, Pune, Hyderabad and Chennai is done by Foodpanda, and we will scale this to 50 per cent by the end of this year,” said Kochhar.

Kochhar was in the City to participate in SURGE 2016. With over 5,000 participants from 72 countries, the event, which concluded on Wednesday, hosted a platform for startups and investors to engage with each other.