Zomato, a leading player in the foodtech space, is reportedly piloting a new initiative that offers last-mile delivery to office goers within corporate parks.
According to Entrackr, Zomato has established kiosks at “approximately five to six” corporate parks in Gurugram. At these kiosks, a delivery executive hands off the food parcel to the stationed team. Following this, a designated “walker” is assigned to deliver the item to the customer’s specific floor or location.
According to the report, Zomato has likely joined forces with corporate parks to “whitelist” these last-mile delivery providers. Furthermore, the foodtech company has promised “no calls from delivery partners” to customers and has assigned specific “walkers” to each floor.
The company chose not to respond to inquiries regarding the matter.
Continue Exploring: Zomato launches in-hall food delivery service at PVR Cinemas in Gurgaon, enhancing movie-goers’ experience
“The initiative is presently in an experimental stage, and based on the pilot’s results, the organisation plans to expand this offering to the top five cities,” according to a source mentioned in the report.
Meanwhile, according to another individual familiar with the situation, these kiosks are reportedly processing approximately 100 to 150 orders daily, with the company anticipating a rise in this figure in the coming days.
With this initiative, Zomato aims to adopt a model similar to that seen in China, where companies like Meituan station their teams at areas housing corporations and startups to streamline deliveries.
This development comes at a time when Zomato has been experimenting with a range of new offerings to bolster its revenue. Last year, the company introduced a platform fee (which now ranges from INR 3-5) and followed this by partnering with the Indian Railway Catering and Tourism Corporation (IRCTC) to deliver pre-ordered meals to railway passengers.
In February, reports suggested that the foodtech company was considering expanding its quick commerce division, Blinkit, by incorporating more brands across different categories to compete with ecommerce giants like Amazon and Flipkart.
Meanwhile, the company maintains strong financial performance, with its third consecutive profitable quarter reported in Q3 FY24. Its net profit surged fourfold sequentially to INR 138 Cr in Q3 FY24, while operating revenue increased by 15% quarter-on-quarter to INR 3,288 Cr.
Continue Exploring:Â Zomato reports third consecutive profitable quarter with INR 138 Cr PAT in Q3 FY24
It has also gained favor among investors, with Jefferies including the stock in its “top picks” list for the next five years.
On Monday (April 1), Zomato’s shares concluded 1.21% higher at INR 184.55 on the BSE.
Continue Exploring: Zomato among Jefferies’ top picks for next five years, anticipates 2.5X share price increase by 2029
