Copyright thehindubusinessline
Food and grocery delivery platform Swiggy Ltd is doubling down on new platform innovations such as Bolt, DeskEats, 99 Store, and NoSugarAdded, which have helped the company’s food delivery revenue rise 22 per cent year-on-year to ₹2,206 crore in the September quarter (Q2FY26). The company recorded its fastest order growth in two years, as new use-cases and targeted offerings broadened its customer base and boosted user engagement. Swiggy’s gross order value (GOV) for food delivery segment grew 18.8 per cent y-o-y to ₹8,542 crore, with the platform adding nearly 0.9 million new monthly transacting users (MTUs) to reach 17.2 million during the quarter. According to the company, this surge was driven by a combination of value-focused and convenience-led propositions that addressed diverse consumer needs across income brackets and cities. “Food delivery continued its growth trajectory in line with our guidance, with a steady 18.8 per cent y-o-y GOV growth even amidst volatile macro-consumption trends and higher-than-usual rainfall,” said Sriharsha Majety, Group CEO and MD of Swiggy. “Importantly, MTU growth accelerated to 17.2 per cent y-o-y , and the double-digit y-o-y order growth was the highest in two years.” The segment’s profitability also improved meaningfully. Swiggy’s adjusted EBITDA for food delivery surged 114 per cent y-o-y to ₹240 crore, with margins expanding to 2.8 per cent of GOV, up 125 basis points from last year. The improvement, the company said, reflects that scale and profitability can coexist in its food delivery business. Swiggy attributed the strong performance to a slew of product innovations. Its 10-minute food delivery service, Bolt, is now live across 700+ cities, contributing more than one in 10 orders on the platform. The company’s ‘DeskEats’ programme, targeting office-goers, has expanded to 7,000+ tech parks across 30 cities, while its ‘Food on Train’ initiative now covers 115+ stations, tapping into new meal occasions. On the affordability front, the ₹99 Store—which offers cheaper meal options without reducing basket size—has scaled to 500+ cities, contributing a high single-digit share of Swiggy’s total food orders. Meanwhile, Gourmet continues to add premium restaurants, helping maintain a balanced average order value across user segments. Swiggy also launched a new experimental app, ‘Toing’, in Pune to cater to budget-conscious consumers like students and early professionals. The platform aims to test an alternative marketplace model tailored for low average order value meals—a category with challenging unit economics but significant growth potential. With a ₹1,000-crore quarterly run rate and accelerating user additions, Swiggy’s food delivery business is now showing signs of maturity. The company’s strategic focus on affordability, convenience, and segmentation suggests it is preparing for the next phase of growth—broadening its user base while strengthening its path to sustainable profitability. Published on November 1, 2025
