These expansion costs are unavoidable, whether incurred through marketing or idle expenses. Most of our current burn is due to expansion. Based on our growth trends, we could have covered our expansion costs.
Citi downgrades India to ‘neutral’ as valuations remain elevated
Citi has downgraded India’s market rating to ‘neutral’ due to high valuations and moderating earnings growth forecasts. While acknowledging India’s strong macro story and potential