He also highlighted the company’s accelerating growth trajectory, noting that it took 18 years to reach its first annual $10 billion in NOV (new order value), while the next doubling to $20 billion is expected in less than two years.
“The acceleration is real because the foundation is already laid. The systems, the supply chains, the customer trust, the operational muscle. All of it compounds,” the 45-year-old said, adding that in FY26, a staggering 109 million Indians completed transactions worth over $10 billion through Blinkit, District and Zomato.
Deepinder Goyal said Eternal’s moat is physical and that brings constant unpredictability, from weather disruptions and sudden demand spikes to supply shortages and delivery delays. He added that building in India comes with another layer of complexity, where businesses operate in cities with approximate addresses, evolving road infrastructure, fragmented merchant networks, informal labour systems, and supply chains that still depend heavily on cash and relationships.
He said this is not a challenge but a competitive advantage, as any company that learns to build reliably in such an environment creates something difficult to replicate. Over the past two decades, the company has built systems designed to perform not just in ideal conditions but under real-world stress. As a result, its platforms are now part of daily life for more than 100 million customers across India.
He added that the trust built with customers extends across the wider ecosystem. Today, the company’s platforms support livelihoods for more than 1 million delivery partners, over 4 lakh restaurants, more than 1 lakh supply chain workers, and thousands of brands. As scale increases, so does the economic value created for partners.
Goyal said naming the company Eternal was a humbling decision because it is a name that must be earned every day. He described Eternal as a commitment to building an institution where culture outlasts strategy, systems outlast individuals, and the work of one generation creates the foundation for the next.He noted that companies go through multiple cycles of disruption over time, and the business has already faced several over the past 18 years. According to him, the ability to pivot, disrupt itself, and at times cannibalise parts of the business in order to survive has helped the company remain competitive.
He said the company’s long-term focus remains simple: survival and continuously expanding the span of its impact. If it stays committed to those priorities, it can outlast short-term noise and future challenges by staying focused on where customers are headed.
Goyal added that many early competitors did not survive, while the company endured not because it was smarter, but because it kept going. In India, where progress often takes longer than expected, he said the ability to stay in the game financially, emotionally and institutionally is the biggest competitive advantage. He added that resilience may sound admirable in hindsight, but in the moment, it often feels like stubbornness.
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