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<ul><li>Indian Hotels, the operator of Taj Hotels, launched its food delivery platform Qmin at the peak of the pandemic.</li><li>Born out of adversity, this start-up has been profitable since day one in the industry dominated by <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> and <keyword id="6358977" type="General" weightage="20" keywordseo="swiggy" source="Orion">Swiggy</keyword>.</li><li>Jehangir Press, associate VP, strategic accounts management group and commercial director, Qmin at IHCL speaks to Business Insider India about Taj’s value chain, growth story, journey so far and revenue goals for FY23.</li></ul>Indian Hotels, the operator of Taj Hotels, launched its food delivery platform Qmin two years ago. At the height of the pandemic, instead of outsourcing the Taj Hotel Group’s delivery services to existing platforms, the Tata Group launched its own in-house platform in Qmin. In the last two years, Qmin has generated revenues to the tune of ₹100 crore. This year alone, it hopes to clock in revenues to the tune of ₹80 crore. “We are possibly the only food delivery platform that has been profitable from day one because we have found the right balance of using our existing resources,” Jehangir Press, associate VP, strategic accounts management group and commercial director, Qmin at IHCL, told Business Insider India. The 90-minute delivery service Zomato and its rival Swiggy together hold <a href="https://theprint.in/theprint-essential/are-zomato-swiggy-helping-restaurant-business-or-hurting-it-why-cci-has-ordered-a-probe/905581/">90-95%</a> market share in India’s food delivery business, but also burning cash. In the quarter ending March 2022, Zomato posted a <a href="https://www.businessinsider.in/stock-market/news/zomato-posted-a-1222-crore-loss-but-its-stock-gained-18-reasons-behind-the-surge/articleshow/91766080.cms">net loss</a> of ₹1,222 crore, which widened by ₹400 crore since last year. With Qmin, the Tata Group could move away from having to depend on the likes of Zomato or Swiggy for deliveries. Qmin also gave the group complete control over the entire value chain from food preparation to delivery. “We have 100% control – over the value chain and with that, you are in control of the safety, hygiene, and health of everything that you're sending out. Also, we obviously cannot compromise on hygiene and safety. We took a call and even though it costs us substantially more, we went with the complete ecosystem,” said Press. Unlike its competitors that have been focusing on chopping their delivery time from 30 minutes to 10 minutes, Qmin says it has prioritized safety, security, hygiene, sustainability and delivering a luxurious experience. Qmin takes up to 90 minutes to deliver its orders. Its menu starts from ₹200 onwards and Qmin’s family feast widget and Fiama pizzas are the most ordered meals on the app. <div type="image" title="Qmin Packaging image" msid="93520889" hostid="261" caption="&amp;lt;p&amp;gt;Qmin&amp;lt;/p&amp;gt;"></div> It has delivered over a million meals to consumers so far and donated over 57,000 meals to flood-affected areas of Assam. From luxury food delivery to gourmet dining cafes While it started off as a gourmet food delivery service, Qmin has expanded into different food categories with the launch of its food truck, gourmet eatery shops and Qmin quick service restaurant (QSR). Its food trucks are stationed outside corporate offices and it also caters to private house parties. <div type="image" title="3 (1)" msid="93520927" hostid="261" caption="&amp;lt;p&amp;gt;Qmin&amp;lt;/p&amp;gt;"></div> Qmin shops, present in Mumbai and Delhi, retail international food items such as breads, handcrafted cheeses, meats, patisserie items, etc. Qmin also has 13 QSRs in Bengaluru and will be expanding its presence in the country in the coming months. “We're looking at atleast 100 plus shops in QSRs to very quickly open up all across the country. Our truck business will also grow, (but) not at the same pace. The shops are where we see the major growth,” said Press. Qmin is also looking at expanding its presence across borders, starting with the UK, US and UAE markets. While delivery and retail shops contribute almost equally to Qmin’s overall sales, Press is confident that retail shops will contribute a lion’s share of the revenue in the near future.

Qmin has been profitable business for IHCL from day one, says Jehangir Press

<ul><li>With the passing away of <keyword id="6398943" type="General" weightage="20" keywordseo="rakesh-jhunjhunwala" source="Orion">Rakesh Jhunjhunwala</keyword>, India has lost its biggest champion.</li><li>He had been widely known for his investment strategies, but he was also one of the biggest philanthropists in the country.</li><li>Even while battling illness, he opened an eye hospital where 80% of surgeries would be carried out free of cost.</li></ul>“When I became a billionaire in 2008, my father wasn’t interested in my net worth but in how much I was going to give away,” Rakesh Jhunjhunwala, India’s best known stock investor, had said nearly a decade ago. This is probably one of the reasons why Jhunjhunwala constantly endeavoured to strike the right balance between earning and giving back to the society. The man, dubbed as India’s Warren Buffett, was so much more than an Indian stock market mogul. He has been among the country’s most notable philanthropists – he wanted to give away a fourth of his wealth within his lifetime. He did achieve the target last year as he donated 25% of his annual income towards charitable work focused on the education sector, according to Edelgive Hurun India Philanthropy list. He donated approximately <a href="https://www.india.com/business/rakesh-jhunjhunwala-as-a-philanthropist-big-bull-donated-approx-rs-13-69-lakh-per-day-5571664/">₹13.69 lakh</a> per day last year. Jhunjhunwala <a href="https://www.businessinsider.in/india/news/akasa-air-founder-top-broker-rakesh-jhunjhunwala-passes-at-62/articleshow/93551704.cms">passed away </a>on Sunday morning, leaving a deep void. His stock picks had earned him a cult following, and his humble nature was praised by many. It was not long ago that Jhunjhunwala’s simple dressing sense became a source for many memes after his meeting with Prime Minister Narendra Modi. Son of an income-tax officer, Jhunjhunwala never forgot his roots no matter how much wealth he had accumulated over the years. “I would be driving the same car and having the same food even with 85% less wealth than now. At heart, I’m pure middle-class. If I don’t go to the office for a few days, my wife starts asking why you are home,” India’s <a href="https://www.forbes.com/india-billionaires/list/#tab:overall">36th </a>richest man had <a href="https://www.thehindubusinessline.com/markets/rakesh-jhunjhunwala-indias-warren-buffet-who-remained-a-middle-class-at-heart/article65768876.ece">said</a>. Jhunjhunwala stepped into philanthropy with St Jude, a free-of-cost shelter for underprivileged children battling cancer, which has helped over 31,262 children since its inception in 2006. His biggest charity was Agastya, which aims to impart knowledge of science to young students. Other than these, he also backed Ashoka University. Friends and the beneficiaries of these organisations have also <a href="https://www.outlookindia.com/business/the-oracle-of-dalal-street-rakesh-jhunjhunwala-news-216304">highlighted</a> that Jhunjhunwala didn’t just believe in only signing a cheque, but was also actively involved in these causes. The philanthropy didn’t end here. Even when he was battling health problems last year, Jhunjhunwala opened an eye hospital named after his father near Mumbai last June. The R Jhunjhunwala Sankara Eye Hospital follows a 20:80 model, where two in ten surgeries are subsidised for those who can afford it and the remaining eight are totally free of cost. The hospital is primarily built for patients from rural Maharashtra. Jhunjhunwala was born on July 5, 1960, and grew up in a Rajasthani family in Bombay. He entered the stock market with just ₹5,000 in 1985. He amassed a fortune worth an estimated $5.8 billion (roughly ₹46,042 crore) in his life span. His portfolio included 47 companies like Star Health, Titan, Canara Bank, Indian Hotels Company, Nazara Technologies and Tata Motors at the end of June. He also had holdings in Tata Communications, Bilcare, Federal Bank and Aptech. His latest venture was an airline – Akasa Air, which took its maiden flight exactly a week before his death on August 7. A Chartered Accountant by qualification and training, he was 62 and is survived by his wife Rekha and three children. “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world,” Prime Minister Narendra Modi said on Sunday. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/heres-a-list-of-stocks-that-can-benefit-from-the-festive-season/articleshow/93579202.cms">Here’s a list of stocks that can benefit from the festive season</a> <a href="https://www.businessinsider.in/business/news/food-delivery-startup-qmin-claims-to-be-the-only-profitable-business-among-its-peers-like-zomato-swiggy/articleshow/93520527.cms">Taj Hotels’ Qmin food delivery app claims to be the only profitable business among its peers</a> <a href="https://www.businessinsider.in/entertainment/news/avatar-2-black-panther-2-ant-man-here-is-a-complete-list-of-hollywood-movies-expected-to-hit-indian-theaters-in-the-next-6-7-months/articleshow/93522825.cms">Avatar 2, Black Panther 2, Ant Man — Here is a complete list of Hollywood movies expected to hit Indian theaters in the next 6-7 months</a>

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Qmin has been profitable business for IHCL from day one, says Jehangir Press

Karuna Sharma

Life and times of Rakesh Jhunjhunwala — the man behind the trader

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