Blinkit has entered the transit payment space with the launch of its RuPay-powered NCMC Bharat Yatra Card, marking a significant expansion into mobility solutions for the quick-commerce platform. CEO Albinder Dhindsa announced the initiative on Tuesday through social media, highlighting the card's potential to streamline public transportation across multiple Indian cities.

Product Features and Pricing

The Bharat Yatra Card offers several user-friendly features designed to simplify transit payments across India:

Dhindsa emphasized the card's convenience in his social media post on X, stating: "It's a ₹50, zero-KYC, RuPay powered card by @PineLabs which supports instant UPI top ups and also eliminates the need for city specific transport cards."

Launch Coverage and Design

Blinkit has initiated deliveries of the NCMC Bharat Yatra Card across five major metropolitan areas. The rollout covers Delhi NCR, Bengaluru, Mumbai, Chennai, and Ahmedabad, representing key urban centers with established metro and bus networks.

The card features distinctive design elements showcasing India's cultural heritage, displaying illustrations of famous monuments including the Taj Mahal, India Gate, and the Gateway of India.

Industry Context and Partnerships

This launch builds upon Pine Labs' expanding presence in transport payment solutions. The collaboration follows Pine Labs' October 2025 partnership with Flipkart for NCMC card distribution, indicating growing momentum in the unified transit payment sector.

For Blinkit, this represents a pioneering initiative as the first quick-commerce service to offer transit instruments through high-speed doorstep delivery, diversifying beyond traditional grocery and essential item deliveries.

Understanding NCMC Technology

The National Common Mobility Card (NCMC) serves as India's official unified payment instrument for transit systems nationwide. The technology enables:

• Contactless entry for metro systems, bus routes, and parking zones
• RuPay integration for shopping and transportation payments
• Real-time reloading via the UPI network
• Inter-city travel capability without requiring local transit passes

This standardization addresses the longstanding challenge of managing multiple city-specific transport cards for frequent travelers and residents of multiple cities.

Source: https://www.livemint.com/companies/news/blinkit-launches-rupay-powered-ncmc-bharat-yatra-card-11769512923930.html

Blinkit achieved a significant milestone by turning profitable in Q3, marking a potential turning point for Zomato's quick commerce segment. The profitability breakthrough came alongside strong performance metrics across both the quick commerce and food delivery businesses, though the company faces new competitive challenges ahead.

Blinkit's Profitability Breakthrough

Blinkit's transition to profitability was driven by a sharp improvement in contribution per order, with the platform earning ₹30.00 per order in Q3. This represented a 25% increase compared to Q2, achieved through factors including sales mix changes, operating leverage, and seasonality benefits.

Despite the positive contribution metrics, gross profit margins declined by 20 basis points sequentially to 26.60%. Additionally, GST cuts implemented in September adversely impacted Blinkit's NOV growth rate by approximately 3 percentage points, though the platform still achieved 14% sequential growth.

Store Expansion and Network Growth

Blinkit continued its aggressive expansion strategy, though at a slightly moderated pace compared to previous quarters. The company added 211 net stores in Q3, bringing the total dark store count to 2,027 locations. This followed the addition of 272 net stores in Q2.

Management attributed the moderating expansion pace to slow construction activity in Delhi NCR due to pollution-related restrictions and the company's strategic prioritization of order volumes over new store openings. The company remains confident about reaching 3,000 stores by March 2027, which would require approximately 200 new store additions every quarter.

Food Delivery Business Performance

Zomato's core food delivery segment demonstrated robust growth across key metrics. NOV increased 17% year-on-year to ₹9,846 crore, while customer engagement metrics showed even stronger momentum.

Average monthly transacting customers grew faster at 21% to 24.9 million, indicating that order value per customer declined during the period. The take rate increased significantly by 243 basis points to 31%, reflecting higher commissions from restaurants and platform fees. However, EBITDA margin growth was more modest at 40 basis points to 5.40% due to rising operating costs.

Competitive Challenges and Strategic Considerations

Despite the positive Q3 results, Blinkit faces emerging competitive pressures that could impact future profitability. The company recently implemented delivery fee waivers in select markets, responding to increased competition where rivals have eliminated minimum order values, delivery fees, or both.

Management commentary suggested potential acceleration of store expansion plans depending on competitive dynamics and market conditions. If the company decides to target 3,500-4,000 stores by FY27 instead of the current 3,000-store target, it would require approximately 300 new store additions quarterly, with initial setup costs potentially impacting EBITDA margins.

Leadership Transition and Market Valuation

Coinciding with these operational achievements, Zomato announced a leadership transition with founder CEO Deepinder Goyal handing over responsibilities to Albinder Dhindsa, Blinkit's current CEO. This change comes as both Zomato achieved its highest-ever EBITDA margin and Blinkit reached profitability.

Despite strong operational performance, Zomato's stock has declined 23% from its October peak of ₹368. The stock continues to trade at an EV/EBITDA multiple of 40 based on FY28 estimates, reflecting elevated valuation levels even after the recent correction.