With a Return on Equity north of 50% and profitability every quarter since inception, the Noida-based delivery network is preparing to double its business.
GLAM has done something uncommon in India’s delivery sector. Over four years, the company has grown revenue 25 times over, expanded across the country, and turned a profit every quarter – without raising a single rupee of external equity. Now, it is preparing for its most ambitious stretch yet: an Annualised Revenue Run Rate of ₹200 Cr this festive season, which would effectively double the business.
The company serves India’s quick commerce, e-commerce, and D2C ecosystem as a digital commerce delivery network. Its edge, by its own account, lies less in how fast it has grown than in how it has grown. While much of the sector continues to chase topline at the expense of contribution margins, GLAM has held positive unit economics even while pushing into newer geographies and lower-tier catchments. A technology stack built around delivery partner life cycle management, high-frequency order handling, and rider utilisation sits underneath that – paired with operational rigour at the pincode and hub level, and disciplined capital allocation. The result is a Return on Equity exceeding 50%, a figure rarely seen among scaled players in this space.
The build-up to the festive target has been methodical. GLAM entered West Bengal and the North-East over its two most recent quarters, establishing on-ground fleet, hub infrastructure, and local partner networks in markets beyond India’s top-8 cities. Hiring has scaled across operations, technology, category management, and partner supply. And a series of new brand and platform partnerships signed in the last six months – across quick commerce, e-commerce, and D2C – has widened order volumes heading into the season.
“Every 10-minute delivery promise in this country rests on a last mile, fulfilment layer that has to be denser, deeper and more reliable than ever before,” said Vijay Dobriyal, Founder & CEO, GLAM. “Our job is to build that last mile infra, profitably and at a scale that matches where Indian digital commerce is headed. The upcoming festive quarter is going to be a key stepping stone, towards the real milestone of 100,000+ delivery partner network by FY28 in line with our ESG framework.”
GLAM is now targeting a delivery partner base of over 100,000 by FY28 – a scale that would place it among India’s largest digital commerce delivery networks. To fund that trajectory, the company is exploring its first round of external equity capital, positioned as an accelerant for a business already generating its own cash rather than a lifeline. For GLAM, this festive season is less a revenue milestone than a launchpad.
About GLAM
Greenteck Logistics and Mobility Private Limited (GLAM) is an India-based digital commerce delivery and green mobility company headquartered in Noida, Uttar Pradesh. Founded in 2022, GLAM runs a rider-first platform built on transparent systems, operational stability, and sustainable mobility, and it works to create dignified earning opportunities for India’s growing delivery workforce.
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