Bengaluru, July 26: Tata Digital-backed e-grocery platform BigBasket witnessed a decline in its annual turnover for the financial year ending March 2025, as intense competition from quick commerce giants such as Blinkit, Zepto, and Instamart chipped away at its market share.
According to the Tata Sons' annual report for FY25, BigBasket’s business-to-consumer (B2C) arm, Innovative Retail Concepts, recorded a 3% drop in revenue, bringing in ₹7,673 crore. Meanwhile, its business-to-business (B2B) unit, Supermarket Grocery Supplies, reported a steeper 7% fall in turnover, down to ₹2,227 crore.
Losses for the B2C arm also widened significantly. Innovative Retail Concepts posted a loss of ₹1,851 crore in FY25, up from ₹1,267 crore in the previous fiscal year.
Initially known for its slotted grocery delivery model, BigBasket has pivoted to the growing quick commerce segment through its 10-minute delivery service, BB Now. However, despite this transition, it continues to face an uphill battle in a fiercely competitive landscape.
The Tata Group acquired a majority stake in BigBasket in 2021, taking over the share held by Alibaba in a deal that valued the company between $1.5 billion and $2 billion. At the time, the move was seen as part of Tata’s larger strategy to strengthen its digital footprint.
In April 2025, The Economic Times reported that Tata Group was seeking to raise $1.3 billion in external capital for its digital ventures, including BigBasket and its epharmacy platform 1mg. Of this, $1 billion was said to be earmarked for BigBasket alone.
Earlier this year, Tata Digital had expressed dissatisfaction over BigBasket's performance during a business review, especially as the quick commerce space saw competitors rapidly gaining ground. Blinkit (owned by Zomato), Zepto, and Swiggy’s Instamart currently dominate the sector, controlling an estimated 80-85% of the Indian quick commerce market. The remaining share is divided among players like BigBasket, Flipkart Minutes, JioMart, and Amazon Now.
Tata Group currently holds over 65% of BigBasket, with other investors including Mirae Asset Venture Capital and the UK's CDC Group. BigBasket was last valued at $3.2 billion in December 2022, following a $200 million funding round led by Tata Digital.
In a further bid to strengthen its quick commerce offerings, BigBasket in June began piloting a 10-minute food delivery service featuring items from Starbucks India—a joint venture between Tata Consumer Products and the US-based Starbucks—as well as Qmin, the gourmet food delivery platform owned by Indian Hotels Company Limited (also a Tata Group entity).
Despite its efforts to evolve, BigBasket faces mounting pressure to regain momentum in an increasingly crowded and rapidly changing digital grocery marketplace.
