For nearly 15 years, Hari Menon personified BigBasket. He helped build India’s online grocery market long before instant deliveries became the industry’s biggest obsession.
But the market he helped create has changed dramatically. Quick commerce has reshaped consumer expectations, rivals have multiplied, and profitability has become harder to achieve.
Against that backdrop, BigBasket’s decision to hand the reins to former Amazon executive Amit Nanda is more than a leadership transition. It is a sign that India’s grocery pioneer is entering a new phase where execution and sustainable growth matter more than ever.
BigBasket Appoints Amit Nanda as CEO
Tata Digital-backed BigBasket announced that co-founder Hari Menon has stepped down as chief executive after leading the company since its inception. Menon and co-founder Vipul Parekh will continue on the board and mentor the new leadership team. Amit Nanda, who spent more than 11 years at Amazon India, has taken over as CEO.
The change comes at a time when BigBasket is trying to strengthen its position in an increasingly crowded quick commerce market. Menon himself has acknowledged that the company was slower than some rivals in embracing the 10-minute delivery model. However, he believes BigBasket has narrowed the gap considerably.
Mounting Financial Pressure
The competitive intensity has come at a cost.
According to Tata Sons’ FY25 disclosures, BigBasket’s business witnessed slowing growth and widening losses. The B2C arm, Innovative Retail Concepts, reported turnover of ₹7,673 crore in FY25, down 3 percent from the previous year. Its losses rose sharply to ₹1,851 crore from ₹1,267 crore in FY24.
The B2B business, Supermarket Grocery Supplies, posted revenue of ₹2,227 crore, a decline of nearly 7 percent. Combined, these businesses generated close to ₹9,900 crore in revenue, while consolidated losses crossed ₹2,000 crore.
Those numbers underline the reality confronting India’s quick commerce players. Scale alone has not translated into profits, as companies continue investing heavily in warehouses, logistics and customer acquisition.
BigBasket Betting On Quick Commerce
Despite rising losses, BigBasket remains optimistic about growth.
Reuters reported earlier that around 80 percent of the company’s revenue now comes from quick commerce. The company has also outlined plans to pursue an initial public offering within 18 to 24 months.
BigBasket is simultaneously expanding its infrastructure. Reuters reported that the company planned to increase its network from about 700 dark stores to between 1,000 and 1,200 facilities, reflecting the importance of rapid delivery capabilities in the current market.
The company has also entered the fast-growing quick food delivery segment, leveraging Tata Group brands such as Starbucks and Qmin.
Focus Shifts To Profits
If growth defined BigBasket’s first decade, profitability may define its next chapter.
Speaking after his transition announcement, Hari Menon said the company’s priority is no longer chasing market share at any cost. Instead, BigBasket is targeting profitability within the next 12 to 15 months.
That approach reflects a broader shift across India’s startup ecosystem. Investors are increasingly demanding stronger economics rather than rewarding companies solely for rapid expansion.
For Amit Nanda, this may be the most important challenge of his career. BigBasket already helped change how Indians buy groceries. The next task is far more difficult: proving that instant commerce can become a sustainable business.
The answer will determine not only BigBasket’s future but also whether India’s quick commerce boom can ultimately produce profitable companies rather than just fast-growing ones.
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