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District’s Net Order Value (NOV) for its Going Out segment - which includes categories like dining, events, and experiential spending - has entered a moderation phase after an exceptional FY25.
NOV grew from ₹1,562 crore in 2QFY25 to ₹2,063 crore in 2QFY26, but YoY growth has eased sharply from 204% to 32%, reflecting a natural slowdown after rapid category expansion and customer onboarding in FY25.
What It Means
- Growth Normalization: After a phase of hyper-expansion in FY25, District’s Going Out business is now transitioning into a steadier growth cycle.
- Maturing Category: The moderation suggests that early adoption momentum has plateaued, with incremental growth now driven by frequency and value per order rather than new users.
- Stable Consumer Demand: Sustaining over ₹2,000 crore in NOV indicates that discretionary spending categories continue to see strong baseline demand, even as YoY spikes fade.
- Strategic Focus Shift: The focus now likely moves from market capture to retention, personalization, and experience-led monetization to maintain long-term engagement.