Companies that are executing well will continue to command a significant premium, Gupta said in an interview. The next phase of Internet growth will come from smaller towns, which do not enjoy the same purchasing power as the metros or bigger cities. Valuations are more a reflection on execution. If you look at global valuations, they have come off, and that will be extrapolated here as well. If you look at overall macro-picture of food delivery in India, there is a massive unorganized food delivery market—that needs to get organized.

Source: Mint November 24, 2016 19:01 UTC