SUMMARY
IRCTC has tied up Swiggy for the supply and delivery of pre-ordered meals as a PoC in the first phase at four railway stations – Bengaluru, Bhubaneswar, Vijayawada, and Visakhapatnam
The development comes four months after Zomato also partnered with the IRCTC for supply and delivery of pre-ordered meals on a pilot basis
The development comes four months after Zomato partnered with the IRCTC for the supply and delivery of pre-ordered meals on a pilot basis in October last year
After Zomato, the Indian Railway Catering and Tourism Corporation (IRCTC) has partnered with rival Swiggy for the supply and delivery of pre-ordered meals through the formers’ e-catering portal.
“IRCTC has tied up with M/s. Bundl Technologies Pvt. Ltd. (Swiggy Foods) for supply & delivery of pre-ordered meals through IRCTC e-catering portal as a PoC (Proof of Concept) in the first phase at four Railway stations — Bengaluru, Bhubaneswar, Vijayawada & Visakhapatnam,” said IRCTC in a statement to the stock exchange on Thursday (February 22).
The development comes four months after Zomato partnered with the IRCTC for the supply and delivery of pre-ordered meals on a pilot basis in October last year. The service was then announced for five railway stations – New Delhi, Prayagraj, Kanpur, Lucknow, and Varanasi, in its first phase.
Meanwhile, IRCTC in its statement said today that e-catering service through Swiggy might be available soon.
Currently, Zomato and Swiggy are the only two major players in the Indian food delivery market, and the Deepinder Goyal-led startup leads the race with about 54% market share.
According to an Inc42-AppTweak analysis, between January and November 2023, Zomato also led the total number of app downloads (47.5 Mn) while Swiggy’s count stood at 36 Mn.
On the other hand, Swiggy is now preparing for an IPO and is aiming at an INR 10K revenue in FY24 with a profitability, ahead of its listing.
However, in FY23, Swiggy’s net loss widened 51% to INR 4,179.3 Cr from INR 3,628.9 Cr posted in the previous fiscal. Its operating revenue stood at INR 8,264.4 Cr, registering a 40% jump year-on-year (YoY), which was helped by the scaling up of its quick commerce vertical.
Meanwhile, IRCTC, with a huge pool of railway traffic, continues to witness a surge in its catering business. Its revenue from catering services increased almost 30% YoY to INR 507.8 Cr in the last reported quarter – Q3 FY24.
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