Finding Alpha: Why Sandip Agarwal sees platforms as the next big wealth creators

In the latest episode of CNBC-TV18’s Finding Alpha, Sandip Agarwal, Fund Manager at Sowilo Investment Managers, who oversees assets worth nearly ₹194 crore, unpacked the structural growth themes shaping India’s next phase of wealth creation. His focus was clear—platform businesses.Agarwal explained why India has turned “platform-friendly” only in the last decade, with affordable data, telecom reach, and shifting demographics such as falling fertility rates and the rise of nuclear families creating a vacuum that delivery and service platforms are now filling.

Companies like Zomato, Swiggy, Urban Company, and BookMyShow, he said, are modern replacements for the household “chotus,” meeting rising consumption needs with efficiency and scale.

From tourism to diagnostics, Agarwal believes platforms will expand across multiple segments.He also outlined how reliance on domestic capex, AI initiatives by Reliance

and evolving consumer behaviour present long-term opportunities for investors—though timing, entry valuations, and burn-to-growth ratios remain critical factors for outsized returns.

He pointed out that platforms thrive when they become enablers of convenience, saving time and aggregating multiple options for consumers. Whether in entertainment, food delivery, travel, or mobility, scale and footprint decide the winners.

However, high cash burn and intense competition mean not every platform will survive, making careful stock selection and entry price crucial for investors.

For the entire discussion, watch the accompanying video

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