- In Q1 FY27, Swiggy's consolidated adjusted EBITDA improved by Rs 162 crore year-on-year, narrowing its loss to Rs 651 crore.
- Swiggy's food delivery business reported a GOV of Rs 9,490 crore in Q1 FY27, up 18% year-on-year, with adjusted EBITDA run rate rising to Rs 292 crore.
- Swiggy's quick commerce business, Instamart, reported a GOV of Rs 7,907 crore in Q1 FY27, up 40% year-on-year, narrowing its contribution margin loss to 0.2% of GOV.
- Swiggy expects to more than triple its consolidated Gross Order Value (GOV) to around Rs 2.5 lakh crore by FY31 from Rs 67,734 crore in FY26, a CAGR of over 30%.
- Swiggy's out-of-home consumption business, Dineout, completed its first full year of positive adjusted EBITDA in FY26, posting a GOV of Rs 4,600 crore, up 51% year-on-year.
- Swiggy's food delivery business is expected to grow its GOV by 2.5-3.5 times and generate around Rs 5,000 crore in adjusted EBITDA by FY31, driven by affordability-led initiatives and operational improvements.
- Swiggy highlighted progress towards becoming an Investor-Owned Commerce Company (IOCC), with domestic ownership crossing 50% on July 1, 2026.
- Its board approved raising the foreign shareholding cap to 49.5% ahead of its 13th annual general meeting on August 18, 2026.
Swiggy is setting ambitious targets, aiming for an adjusted EBITDA of ₹10,000 crore by FY31, with its Gross Order Value (GOV) projected to exceed ₹2.5 lakh crore. This growth is anticipated to stem from both its food delivery and quick commerce sectors.4
In the first quarter of FY27, Swiggy's food delivery business reported a GOV of ₹9,490 crore, marking an 18% year-on-year increase, while its adjusted EBITDA run rate rose to ₹292 crore. The company expects its food delivery GOV to grow by 2.5-3.5 times by FY31, contributing around ₹5,000 crore in adjusted EBITDA, driven by affordability initiatives and operational improvements.6
Swiggy's quick commerce segment, Instamart, is also on a growth trajectory, with a GOV of ₹7,907 crore in Q1 FY27, reflecting a 40% year-on-year growth. Instamart aims for a GOV exceeding ₹1.5 lakh crore by FY31, up from ₹28,000 crore in FY26, supported by a monthly user base of over 40 million.3
Additionally, Swiggy's out-of-home consumption business, Dineout, achieved its first full year of positive adjusted EBITDA in FY26, with a GOV of ₹4,600 crore, up 51% year-on-year. Dineout is targeting five-fold growth and around ₹1,000 crore in adjusted EBITDA by FY31, with a projected GOV of ₹20,000-25,000 crore.5
The company is also progressing towards becoming an Investor-Owned Commerce Company (IOCC), with domestic ownership surpassing 50% as of July 1, 2026, and plans to raise the foreign shareholding cap to 49.5% ahead of its annual general meeting on August 18, 2026.78
“The company expects food delivery GOV to grow 2.5-3.5 times and generate around Rs 5,000 crore in adjusted EBITDA by FY31, while Instamart targets over Rs 1.5 lakh crore GOV. Domestic ownership crossed 50% on July 1, 2026, with the board raising the foreign shareholding cap to 49.5% ahead of its August 18 AGM.”
