Eternal CEO Deepinder Goyal hands over reins to Blinkit chief as quick commerce takes off

Deepinder Goyal, co-founder and chief executive of food delivery major Zomato and its parent firm Eternal, is stepping aside from the CEO role and transferring leadership to Albinder Dhindsa, who currently heads the company’s quick-commerce arm, Blinkit.

Goyal announced on Wednesday that, while he will no longer serve as chief executive, he will continue to serve on Eternal’s board as vice chairman. He said the move would allow him to concentrate on “higher-risk exploration and experimentation,” areas he believes are difficult to pursue within the operational and regulatory framework of a publicly listed company.

“This is a change in designation, not a change in my dedication to results,” Goyal said in a letter addressed to Eternal’s shareholders. “Eternal continues to be my life’s work.”

Goyal launched Zomato in 2008 alongside Pankaj Chaddah as a restaurant discovery and review website named FoodieBay while both were employed at Bain & Company. The duo resigned in 2009 to focus entirely on the venture and renamed the platform Zomato in 2010 following a trademark conflict with eBay. The company later expanded into food delivery services in 2015.

Chaddah exited the business in 2018. In the years that followed, Zomato strengthened its market position through key acquisitions, including the purchase of Uber Eats India operations in 2020 and Blinkit (formerly Grofers) for $568 million in 2022.

The leadership transition comes at a time when Eternal is reporting strong financial performance. In its third-quarter results, the company posted a profit increase of about 73%, reaching ₹1.02 billion (approximately $11.13 million), compared with the same period a year earlier. Adjusted revenue surged to ₹166.92 billion (around $1.8 billion), marking a 190% year-on-year rise.

Blinkit continued to stand out as Eternal’s fastest-expanding business segment, with net order value climbing 121% to ₹133 billion (roughly $1.45 billion) during the most recent quarter.

Beyond his responsibilities at Eternal, Goyal has been involved in several independent initiatives over the past few months. These include a longevity-focused venture called Continue Research and an experimental brain-health wearable project known as “Temple.” He is also a co-founder of aviation startup LAT Aerospace and remains active as an angel investor.

The leadership handover is widely seen as a signal of Blinkit’s growing importance within Eternal, as the company’s expansion increasingly leans toward quick commerce rather than its traditional food delivery business.

Quick commerce in India has seen rapid growth, even as the sector faces heightened scrutiny over labour practices affecting thousands of gig workers. Recently, the country’s labour ministry urged labourers to abandon “10-minute delivery” promotional messaging and to introduce measures to improve working conditions and personnel across the industry.