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Manish Sonthalia warns Q-Commerce valuations rest on execution, not cash

India's food delivery and quick commerce sector is at a critical juncture with new entrants and intense competition. Companies are shifting focus from scale to sustainable unit economics, with quick commerce emerging as the key battleground. Investor scrutiny is rising, with profitability by 2028 seen as a crucial benchmark for valuations.

29 Dec 2025 1:50 pm