BigBasket, the online grocery player backed by Tata Digital, had a rough financial year as rising pressure from ultra-fast delivery apps like Blinkit, Zepto, and Swiggy’s Instamart began to bite. The company’s annual turnover dropped in FY25, reflecting the increasingly competitive battlefield of India’s grocery delivery space.
As per Tata Sons’ FY25 annual report, BigBasket’s consumer-facing business, operated by Innovative Retail Concepts, reported a 3% dip in turnover — falling to ₹7,673 crore. Its wholesale/B2B arm, Supermarket Grocery Supplies, saw a sharper decline of 7%, closing the year at ₹2,227 crore.
What’s more concerning: the company’s losses have ballooned. Innovative Retail Concepts’ losses grew to ₹1,851 crore in FY25 — a steep jump from ₹1,267 crore in the previous year.
BigBasket, once known for its scheduled delivery slots, has been racing to catch up with the fast-paced quick commerce trend. Its 10-minute delivery vertical, BB Now, was launched to stay relevant in a market where instant gratification is quickly becoming the norm.
Tata Group had acquired a controlling stake in BigBasket back in 2021, buying out Alibaba’s share in a deal that valued the firm between $1.5 billion and $2 billion.
Earlier this year, The Economic Times reported that Tata had engaged top global investment banks to help raise $1.3 billion in funding for its digital portfolio — with $1 billion reportedly marked for BigBasket alone. The move signals that despite current setbacks, Tata is betting big on scaling its grocery play — even if it means burning cash in the short term to stay in the game.
