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Cloud reduces turnaround time essential for dynamic business like ours: Zomato CTO

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As the quick-commerce growth story takes shape in India, Zomato, which just acquired Blinkit for about $568 million, feels that quick commerce is a natural extension of its food delivery business.

India’s quick commerce market is all set to witness 15 times growth by 2025, reaching a market size of nearly $5.5 billion, according to reports.

The total addressable market for quick commerce in India stands at $45 billion, and urban areas are driving this market on the back of mid-high-income households.

Gunjan Patidar, Chief Technology Officer (CTO), Zomato, told IANS that when it comes to online ordering, faster turnaround time leads to a better customer experience and improves customer retention and here, a flexible and scalable Cloud reduces the overall turnaround time, which is essential for a dynamic business like theirs.

Here are the excerpts from the interview:

Q: There has been a mixed reaction to Zomato’s newly announced 10-minute delivery model. What is the strategic thinking behind this? Also, tell us more about the underlying technology that will make this possible.

A: We have witnessed that a faster turnaround time leads to a better customer experience and improves customer retention. It’s simple, you order food when you’re hungry, so it makes much more sense to get it as quickly as possible.

The underlying technology that enables us to deliver within 10-minutes is more or less what we already do in online ordering. The real game-changer is the process at the back. Time optimisation happens at our finishing stations through both technology and operational speed. Please note that no time optimisation occurs on the road, and the delivery partners aren’t informed of whether it is a 10-minute or 30-minute delivery.

Further, no incentive is provided for timely deliveries, and neither are the delivery partners penalised for late deliveries.

Q: The recent ‘pure tech’ IPOs have failed to impress public market investors. Even globally, high growth US tech stocks are stumbling (e.g. DoorDash). What are the secular tailwinds, key upcoming business initiatives etc. which should keep us upbeat about Zomato’s growth prospects?

A: As an organisation, we focus more on long-term initiatives than worrying about what’s the current sentiment. Even during the most critical of times, more than half of our engineers are working on projects that will change the course of Zomato in upcoming years. Coming to the current situation, we feel it’s more like a global phenomenon rather than something particular to Zomato or other tech companies. It’s a market sentiment and part of a regular business cycle. It’s not the first time and won’t be the last. Every time this happens, the market takes some time to correct itself, and things eventually fall back in place.

Our long-term initiatives are customer-centric, wherein we are currently focusing on Hyperpure growth, and deeper penetration in the cities we already operate in, to name some.

Q: How are you managing to attract and retain top talent?

A: While hiring and retaining the best engineers is still challenging, Zomato has always found the right pool. One of the reasons why we’re able to do this is because we focus more on vision than skills. While skills are essential, what distinguishes great engineers from the good is how aligned they are with the organisation’s vision. And it’s something that we gauge when we are hiring for our engineering and product teams. Our idea is to get onboard the candidates who feel connected with Zomato’s mission and vision. These people are excited to change the food industry for the better, want to play a pivotal role in where we are heading, and are keen to build something that will make people’s lives easier and better.

We also highly emphasise on-the-job learning wherein they can always learn new skills that not only help in doing the current job better but also prepare them for the future. While these things help get the right kinds of people, the culture makes people stay. Getting to work on various projects at once (be it dining or food delivery or Hyperpure) or working in an open environment empowers people in many ways. For Zomans, it’s more about qualitative growth than quantitative one.

Q: How are you using AI/ML, data analytics etc. to serve the customer better?

A: Food delivery is a high-frequency business wherein we are constantly working with multi-layered problems, for example, predicting food preparation time or estimated time of arrival. Another is balancing the demand and supply of delivery partners, especially during monsoons or festivals. Since the supply of delivery partners can be unpredictable, it becomes one of the crucial problems for our data science team. Besides these, we use machine learning to personalise our customer experiences to improve their overall experience.

For example, predicting what customers may like based on their order history or which restaurants we should recommend on the homepage or how items can be prioritised on the search page is done via data science teams.

Q: Tell us about your journey on the cloud? What has cloud technology allowed you to do that you couldn’t do before?

A: We have been using cloud technology for a long time. We started this in 2014 when we first hosted our data on Amazon Web Services (AWS). It reduces the overall turnaround time, which is essential for a dynamic business like ours.

For instance, traffic may be very different at one hour of the day from the other or during special occasions like New Year’s Eve or monsoon. All these patterns are significantly different from each other, and having a cloud enables us to be flexible and optimize basis the need. It also helps in saving a tremendous cost as we don’t have to use the peak capacity every time. We can reduce it during nighttime when there are fewer orders and scale up when the demand is high.

Q: What are the qualities that make you stay ahead of the curve as a CTO?

A: One of the founding principles is to stay connected to the technical landscape, say what the different kinds of tools and technologies teams use across departments. Then, one is being aware of the pain points and arranging or offering solutions to the team faster. One should also stay ahead of the current ecosystem. One should be mindful of conversations in the market, how work cultures are evolving, what tools are being used that enhance efficiency, and what new tech innovations are happening across the globe.

You also must be on top of the organisation’s pulse at any time, what different teams are working upon, the kind of developments they have made in the last few months and the upcoming projects. We keep doing regular catch-ups or organising group events like team lunches, showcases, and off-sites to build better team morale, management and coordination.

Business

Is Market Correction Over? Sensex Soars By Over 1,900 Points; Nifty Gains Over 2%

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The marquee indices closed with monumental gains as Dalal Street recovered with some requisite optimism ahead of the Maharashtra state election results on November 23.

Indian Markets Close With Bumper Gains

On Friday, November 22, the marquee indices closed with monumental gains, as Dalal Street recovered with some requisite optimism ahead of the Maharashtra state election results on November 23.

The BSE Sensex closed for the day’s proceeding with some big numbers. The oldest index in Asia closed with gains of a colossal 1961.32 points or 2.54 per cent. This took the overall value of the index to 79,117.11.

The situation was equally euphoric at the National Stock Exchange. The NSE Nifty closed at 23,830.90, having gained 481.00 points or 2.06 per cent.

In addition, the Nifty Bank index also made gains of over 1.5 per cent. Thebanking index closed with gains of 858.50 points or 1.70 per cent, pushing it beyond the coveted 50K mark, propelling it to 51,231.40.

Gainers and Losers

The days went exceedingly well for most listed companies, the day closed with a green wall. At the BSE end, SBI, Titan and TCS were the biggest gainers with all of the said companies gaining over 4 per cent.

ITC, L&T, Infosys and Reliance also made major gains in excess of 3 per cent by the end of day.

This comes after days, nearly a two-week long period of decline, that marred the market, pushing Sensex below its 80K mark, and Nifty, much below its 25K mark.

It remains to be seen, whether the much discussed market correction that brought about bringing the indices to their actual value, has come to an end or whether sea of red will continue in the time to come.

In addition, it also remains to be seen, whether, the election results for teh critical state of Maharahstra would have an effect on the market, in the next trading week.

Asian Markets

The Asian markets also flourished green with great momentum, as these indices closed on a positive note as well.

Japan’s Nikkei gained 0.68 per cent or 257.68 points, moving towards the 40K mark, closing at 38,283.85.

Another Tokyo-based index, TOPIX, closed at 2,696.53, gaining by 0.51 per cent or 13.72 points.

As we move to China, the story was a lot different, as, contrary to the Indian and Japanese markets, the Chinese markets closed in red.

Hang Seng closed with significant losses in its numbers, closing with a massive fall of 1.89 per cent or 371.14 points, at 19,229.97.

The loss was even greater in mainland China, as the Shanghai-based SSE Composite also ended the day’s trade with deep cuts. The index crumbled by 3.06 per cent or 103.21 points of its value and closed at 3,267.19.

South Korea’s KOSPI was in tandem with other market as closed with some good news. KOSPI closed with an increase of 0.83 per cent or 20.61 points, closing for the day at 2,501.24.

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Business

‘Innocent Unless And Until Proven Guilty’: Adani Group Issues Statement In The US Bribery Indictment; Denies Charges, Calls Them Baseless

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The Adani Group, which has been at the eye of the storm since the beginning of the new day, has issued a statement in the US Indictment matter.

Adani Denies Charges

The company, in a statement procured by the conglomerate-owned IANS, said, “The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied.”

Furthermore, the statement asserted its stance and added, “As stated by the US Department of Justice itself, “the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.” All possible legal recourse will be sought.”

Committed to Highest Standards

The Adani Group further added that it has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations.

US Court Indicts Adani and Co.

The company, in an attempt to assuage stakeholders, partners and employees, said that the company is a law-abiding organisation, fully compliant with all laws.

The storm was kicked off by a post from short-seller group Hindenburg, which shared the news of the US Federal Court’s indictment of Gautam Adani and seven others associated with the company.

Billionaire Gautam Adani has been charged by US prosecutors for allegedly being part of a scheme to pay over USD 250 million (about Rs 2,100 crore) bribe to Indian officials in exchange of favourable terms for solar power contracts.

The press release from the US court elaborated on the allegations and claimed that the company and its leadership had indulged in mass bribery activity, in which the company bribed Indian officials to bag a contract for its Adani Green Energy company.

This in turn led to misleading American investors and global financial investors.

The court reportedly also issued an arrest warrant against Gautam Adani and seven others.

Adani Shares Tank

In the aftermath of the report, Adani Group company shares tanked at Dalal Street. With Adani Enterprises shares hitting the lower circuit, losing 20 per cent of their value. The situation was the same with the other Adani stocks, including Adani Green Energy, which is in the middle of the new storm.

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Business

Bharat NCAP Awards 5-Star Crash Test Rating to Mahindra Thar Roxx

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The Mahindra Thar Roxx has earned a prestigious 5-star rating in Bharat NCAP’s latest crash tests, reflecting its commitment to safety. Recently evaluated under stringent testing, the SUV excelled with a 31.09 out of 32 score for adult occupant protection and 45 out of 49 for child safety.

Tested in its AX5L and MX3 variants, the Mahindra Thar Roxx delivered notable results, scoring 15.09 out of 16 in the Frontal Offset test and a perfect 16 out of 16 in the Side Impact test. The assessment revealed strong protection for most areas, with adequate ratings for the driver’s chest and lower legs.

The Mahindra Thar Roxx has received high marks for child occupant safety, scoring 24 points in Bharat NCAP tests, along with 12 points for CRS (Child Restraint System) installation and a Vehicle Assessment Score of 9. This top-tier safety rating applies to all Thar Roxx units produced from November 2024 onward, underscoring Mahindra’s dedication to enhancing safety features across its SUV range. Additionally, Mahindra’s XUV400 and 3XO models have also achieved 5-star safety ratings, further emphasizing the automaker’s commitment to robust safety standards.

The Mahindra Thar Roxx offers two interior themes – Classic Ivory and a new Dark Mocha Brown. Comfort and convenience are prioritizing with ventilated seats, leatherette upholstery, a digital driver display, a larger 10.25-inch touchscreen, a high-quality Harmon Kardon sound system, a panoramic sunroof, rear AC vents, wireless connectivity for Apple CarPlay and Android Auto, and a six-way adjustable driver’s seat, combining practicality with luxury.

Mahindra Thar 5-door comes packed with safety and interior upgrades to enhance its appeal. On the safety side, it includes essentials like six airbags, three-point seatbelts for all occupants, hill control features, electronic stability control, and a seatbelt reminder. Advanced driver-assist features, such as autonomous emergency braking, adaptive cruise control, lane-keeping support, lane departure alerts, and a 360-degree camera system with blind spot monitoring, add an extra layer of protection.

Mahindra Thar Roxx offers two engine choices: a 2.0-litre turbo-petrol and a 2.2-litre diesel. The petrol engine comes in two setups—150 bhp and 330 Nm of torque for the manual, and 174 bhp with 380 Nm for the automatic. The diesel option is available only with four-wheel drive.

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