'District' now accounts for 20% of Eternal’s business: Deepinder Goyal
'Going-out business could potentially scale to $3 billion in annual topline with $150 million of Adjusted EBITDA sometime over the next five years, if executed well,' Eternal mentioned
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Eternal Ltd, formerly known as Zomato Ltd, witnessed significant growth in its 'Going-out' business (District), despite lower margins in its food delivery and quick commerce segments during Q1 of fiscal year 2026.
According to Eternal founder Deepinder Goyal, the District Going-out business, launched in November 2024, reported an annualized net order value of Rs 8,000 crore in Q1 FY2026. Goyal added the business is now about 20% of the size of our food delivery and quick commerce businesses.
"In Q1FY26, we had about 2 million average monthly transacting customers transacting ~2 times a month on an average with a net AOV (NAOV) of Rs 1,700+.We are building District as a one-of-a-kind platform for going out in India by offering large going-out use cases, including dining-out, movies, sports, concert ticketing, etc. on a single app, for the most premium customer base in the country," Goyal said in a stock exchange filing.
According to the company, the average order value on the platform stands at approximately Rs 160, which is higher than that of its food delivery and quick commerce businesses.
Chief Financial Officer Akshant noted that the Going-out business could potentially scale to $3 billion in annual topline with $150 million of Adjusted EBITDA sometime over the next five years, if executed well.
Meanwhile, Eternal's Q1 profit plunged from Rs 253 crore in Q1 FY25 to Rs 25 crore in Q1 FY26.
The Gurugram-based company's revenue from operation surged to Rs 7,167 crore in Q1 FY26 compared to Rs 4,206 crore in Q1 FY25.
