Eternal's District dines out on growth, leaves Zomato behind

India’s going-out arm District grew faster than the core food delivery business of Eternal (formerly Zomato) in Q4FY26, even as all three of its consumer-facing verticals reported strong expansion, underscoring the group’s shift toward a multi-platform commerce ecosystem spanning food, quick commerce and entertainment.

District, which powers the company’s “going-out” vertical, reported a 46.5% year-on-year rise in net order value (NOV) during the quarter, outpacing food delivery growth of 18.8% and highlighting accelerating traction in experiences such as events, movies and dining-out bookings. The performance comes as Eternal continues to position District, food delivery and quick commerce as distinct “super brands” rather than a unified super app.

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Food delivery, operated under Zomato, saw steady improvement in growth for the third consecutive quarter, with NOV rising 18.8% year-on-year and gross order value increasing 22.5%. Adjusted EBITDA margin for the segment improved to 5.5%, with absolute EBITDA at Rs 532 crore, up 24% year-on-year.

Quick commerce arm Blinkit remained the fastest-growing business, posting 95.4% year-on-year NOV growth. The segment added 216 stores during the quarter, taking total store count to 2,243, while turning in an adjusted EBITDA of Rs 37 crore, up from Rs 4 crore in the previous quarter.

At a consolidated level, Eternal reported adjusted revenue of Rs 17,680 crore, up 186% year-on-year, though like-for-like growth stood at 64% after accounting adjustments related to inventory ownership in quick commerce. Consolidated adjusted EBITDA rose 160% year-on-year to Rs 429 crore.

The company said District’s improvement in profitability trends also continued, with losses narrowing to Rs 81 crore from Rs 121 crore in the previous quarter, even as growth accelerated. Management attributed the momentum to increasing adoption of its unified going-out platform, which integrates bookings for restaurants, events, concerts, movies and recreational venues.

In its shareholder communication, Eternal said District’s roots date back to 2011 ticketing experiments and described the segment as operating in a highly complex physical environment where demand is event-driven and operational execution remains critical. It added that the long-term strategy is to build separate “super brands” for distinct consumer needs, with each platform owning a specific user trigger such as food, instant grocery or going-out.

Also Read: Eternal Q4 Results: Cons net profit spikes 346% YoY to Rs 174 crore; revenue soars 196%

The company also reiterated its FY30 outlook for District, targeting $3 billion in NOV and $150 million in adjusted EBITDA, implying over 30% annual growth from current levels, despite currency and macro volatility.

Overall, Eternal said FY26 marked a key inflection point, with over 109 million users completing transactions worth more than $10 billion across its platforms, as it continues to expand beyond food delivery into a broader consumption ecosystem spanning daily needs, instant commerce and experiences.