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Informist, Thursday, Aug. 6, 2026

MUMBAI – Swiggy Ltd. Thursday detailed its vision for financial year 2030-31 (Apr-Mar). The company aims to achieve an adjusted earnings before interest, taxes, depreciation, and amortisation of over INR 100 billion by FY31. It also expects its gross order value to triple to around INR 2.5 trillion from INR 677.34 billion in FY26. 

The company's gross order value is expected to grow over 30% at a compounded annual rate through FY31 and its adjusted EBITDA margin is seen comprising 4% of gross order value, the company said in a press release. Its earnings per share are expected to improve to INR 30-INR 33 by FY31 from (-)INR 16 in FY26.

"We are operating in three of India's largest and fastest growing consumer opportunity spaces , food-delivery, quick commerce and out of home consumption with each of these businesses having the potential to compound over the coming years," Managing Director and Group Chief Executive Officer Sriharsha Majety said in the press release. 

FOOD DELIVERY BUSINESS

The food delivery business' gross order value is estimated to rise 2.5-3.5 times and its adjusted EBITDA is seen at around INR 50 billion in by FY31. Its budget food delivery vertical, Toing, and other affordability-led initiatives are anticipated to drive the company towards this target. From a broader perspective, India's food services market is on track to grow to about $150 billion by 2031 from $90 billion in 2026, Swiggy noted in the press release. This segment's gross order value for FY26 was INR 345.93 billion. 

QUICK COMMERCE BUSINESS

Swiggy expects its Instamart business' gross order value to grow to over INR 1.5 trillion by FY31. This implies a four-to-fivefold growth from INR 280 billion in FY26. A larger monthly-transacting user base of more than 40 million is expected to support this vision, the company said. Instamart is scaling up Switch, which offers access to better-quality products through roughly 400 brand partnerships and its two private labels, Noice and Nectr. Instamart's gross order value grew 94.1% on year to INR 284.96 billion in FY26 and its average monthy transacting users totalled 12.3 million, according to the company's annual report.

DINEOUT BUSINESS

Swiggy's out-of-home consumption vertical, like its quick-commerce and food delivery divisions, is expected to grow at a robust pace. The going-out segment's adjusted EBITDA is estimated to touch INR 10 billion by FY31 while its gross order value is seen rising fivefold to INR 200 billion-INR 250 billion. The company plans to expand its suite of offerings and use cases. This is expected to drive consumer engagement, merchant adoption, and monetisation, it said. Gross order value of the company's dineout business was reported at INR 46.45 billion in FY26, as per the company's annual report. 

For the June quarter, Swiggy's consolidated net loss contracted to INR 7.91 billion from INR 11.97 billion a year ago. Its revenues for the quarter rose over 37% on year to INR 68.12 billion. At 1135 IST, shares of the company were 3% higher at INR 297.65 on the National Stock Exchange.  End

US$1 = INR 95.21

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Ruchira Kagita

Edited by Akul Nishant Akhoury

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