Internet search company Just Dial told NDTV that it will launch a mobile app next month that will provide a single platform for 20-25 services, ranging from doctor's appointment to taxi booking to grocery and fruit delivery.
Just Dial aims to connect offline neighbourhood stores and vendors with customers thorough this app. The company is connected with 15 million vendors, it said.
"We will make sure your neighbourhood stores within 10-15 km is able to deliver within 5-7 hours, whatever physical goods you're ordering be it fruits, be it grocery," Ramkumar Krishnamachari, chief financial officer, Just Dial said. (Watch)
The app would also offer a level playing field for the vendors as it provides them access to consumers for online transactions, Mr Krishnamachari said.
Just Dial's brand ambassador actor Amitabh Bachchan will launch the app in May, and more details will be revealed then, Mr Krishnamachari said.
On the monetisation aspect of the app, the CFO said, "We are not even thinking of it for the next couple of quarters. Monetisation process should start in Q3, Q4."
Just Dial shares have underperformed the broader markets this year, with its shares falling over 17 per cent year to date. In comparison, the Nifty has lost nearly 2 per cent.
Just Dial shares have been weighed down by concerns over valuations, cost of rolling out new initiatives and trimming of positions by some big investors. Recently, Asia-focused brokerage CLSA replaced Just Dial with Maruti Suzuki in its Asia portfolio.
Despite underperforming the market this year, Just Dial has been one of the successful IPO stories of recent years. It is trading at double its 2013 IPO price of Rs 530.
At 2:16 p.m., the stock was trading nearly 4 per cent lower at Rs 1070, underperforming the broader Nifty and the Sensex which were trading flat.
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