As technology evolves, so does the need for instantaneous and fast delivery. The current CEO, Sahil Barua, has been instrumental in rescuing the business and propelling it forward.
Delhivery, a logistics company, announced a Rs 11.7 crore net profit for the October–December 2023 quarter. Consolidated net sales for the company climbed by 13% QoQ to Rs 2,194 crore from Rs 1,941 crore in the prior quarter. Compared to the same quarter last year, when it made Rs 1,823 crore, its net consolidated revenue grew by 20.32% YoY. For the July–September quarter of FY 24, the unicorn logistics company reported a sharp decline in its net loss, which came down to Rs 103 crore. In Q3 FY23, their net consolidated loss was Rs 195.6 crore. In 2011, Sahil Barua, Mohit Tandon, Bhavesh Manglani, and Kapil Bharati created Delhivery, the largest logistics company in India that operates exclusively online. Barua has been the CEO of the company since then. Here's his story.
Fast and instantaneous delivery is becoming more and more necessary as technology advances. Sahil Barua, the company's current CEO, has played a critical role in saving the company and advancing it. As the managing director and CEO of a company with annual revenue of Rs 7,225 crore in FY 2023, Sahil made more than Rs 25 lakh each month, or Rs 3.1 crore, according to inc42.com.
Barua studied engineering at the Karnataka NIT. Later, he graduated with an MBA from IIM Bangalore. The company was started in an apartment in the national capital. The business began as an online retailer's courier service. Due to a shift in consumer behaviour with the penetration of low-cost internet, the company experienced rapid growth as the demand for home deliveries increased. At the time, not many businesses were providing delivery services to e-commerce businesses. Barua and his companions saw an opportunity. The company expanded into food and clothes sales two years after its launch. They quickly partnered with Flipkart and Amazon Prime Now.
Sahil completed his MBA from IIM in 2008. He was an all-round Gold Medalist.
He moved to the University of Maryland in 2005 to serve as a research intern at CALCE Labs for four months. He was working in Bengaluru in 2007 by a firm known as Stayglad, according to Startup Talky. He also spent three months as a summer associate at Bain and Company. He was employed by the business full-time in 2008. He was promoted to senior associate consultant after a year.
Online retail was likely to be big in India, according to Sahil Barua, who worked at Bain & Company. He also discovered that the logistics sector was fragmented and was primitive. He set out to solve the logistical holes in the sector because he recognised enormous potential there. He founded the company along with Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati. The first base was a flat. Their first corporate office was opened in Gurugram. They had only four delivery people, reported the website.
The market capitalization of Delhivery is Rs 30,054 crore as of November 11, 2023. Furthermore, in FY 2023, the company's net income is Rs 1007 crore.
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