Delhivery Ltd, a listed third-party logistics player, expects a month’s rapid commercial business to generate revenue in the range of £At 80-100 crores by the end of the current fiscal year, co-founder and CEO Sahil Barua said on Friday, highlighting the growing demand for ultrafast delivery in the Indian e-commerce landscape.
Gurugram-based Courier Company launched Rapid Commerce (a two-hour sub-two-hour delivery service) in January. Designed specifically to support brands directly from consumer to consumer, the e-commerce platform reduces delivery timelines and improves customer experience.
“Rapid Commerce is a top eight city (design) add-on product for specific customers and SKUs (stock keeping units). The business has earned between 80 and 100 crores (rupees) in Delhay Living throughout the fiscal year. We expect it may add, and the margin structure is broadly similar to the entire Express business,” Barua said in its third quarter revenue call.
Qcommerce contest
“It’s an interesting business. It’s a good ability that Delhivery builds. Mr. Barua helps to provide much better service to D2C’s customers and their customers. The service has been published in Bengaluru, Hyderabad and Chennai. We plan to add another 15 clients by the end of the next quarter.
Competition in Quick Commerce has been intensifying, with players increasing their investment in dark store expansion and hiring more people to keep delivery timelines short. On Friday, logistics provider DTDC launched a 2-4 hour fast delivery at its first dark store in Bengaluru. In May, Logistics Aggregator Shiprocket introduced “quick” to help small businesses participate in the Quick Commerce Slash.
Barua said Delhivery’s first dark store set already recorded 500 orders daily and is expected to break even if it touches the 700-800. Direct consumer brand contributions to Delhivery’s Express volume are now growing to 30%, while SMEs’ contributions have skyrocketed to 50%.
The company plans to add up to 50 dark stores to serve the top eight Metro City.
Q3 Performance
Dell Harling’s profits zoomed 114% year-on-year £It recorded its third consecutive profitable quarter with 25 crores in the December quarter. Revenue from operations increased by 8% £It has been 2,378 crores from the same period last year.
Express parcel revenue increased 3% year-on-year £Part-Track revenue increased 22% year-on-year with 1,488 crores £462 crores.
Former global CEO of Airtel Vani Venkatesh has joined Delhivery as chief business officer, the company said in a statement Friday. Venkatesh has over 20 years of experience in the industry and has held leadership roles in companies such as Airtel, McKinsey, Unilever and Abbott Nutrition. She previously served as Airtel in a variety of management positions, including CEO of Global Business, CEO of Delhi NCR Region, and Chief Marketing Manager and CEO of Retail.
On Friday, the company appointed Namita Thapar, executive director of Emcure Pharmaceuticals Ltd, and Sameer Mehta, co-founder and CEO of Boat Lifestyle, to the board.
