Milkbasket expects Rs 200 Cr profit by March 2019

Unilever Ventures-backed grocery delivery platform Milkbasket aims to touch a revenue run rate of Rs 200 crore by the next fiscal.

The company, which was founded in 2015 and currently operates in Gurugram, competes with the likes of Grofers and Bigbasket.

“Hyper-local grocery delivery market is a huge opportunity. We started by catering to the Indian habit of getting fresh milk delivered at home every morning, and today has grown to become one of the leading grocery delivery platform in Gurugram,” Milkbasket CEO Anant Goel told. 

He added that the company’s average revenue run rate is expected to see a significant growth from about Rs 40 crore currently to about Rs 200 crore by March 2019.

’Revenue run rate’ is a term used in online retailing to indicate total sales value of merchandise sold through the marketplace over a certain period of time.

Goel said the investment is being deployed to strengthen technology at the back end as well as front end, expanding their assortment and customer base and monetising other streams of revenues.

The company is expanding headcount from about 300 to about 2,500 people in the next 12-18 months.

These people would be primarily engaged on the delivery side. They are looking at making about 50,000 deliveries a day in the next year or so.

The current focus of the company is on adding more locations within Gurugram and later will look at expanding to other cities too.