Swiggy
Financial Performance
Swiggy Revenue & Financials
Revenue
~$2.7B (FY2026)
Market Cap
$8.8B
Employees
6,000
What is Swiggy's revenue?
Swiggy had ~$2.7B in revenue for fiscal year 2026, up 51.4% from 2025. It reported a net loss of ~$481.9M.
- Latest revenue
- ~$2.7B (FY2026)
- Year-over-year
- +51.4%
- Growth rate (CAGR)
- 41.8% over 4 years
- Peak revenue
- ~$2.7B (FY2026)
- Years of data
- 5
- Employees
- 6,000
- How much profit does Swiggy make?
- Swiggy reported a net loss of ~$481.9M for fiscal year 2026. stockanalysis.com
- How many employees does Swiggy have?
- Swiggy has about 6,000 employees.
Financial Analysis
Swiggy raised money privately from investors including Prosus (Naspers), Tencent, SoftBank Vision Fund, Accel and Invesco before its November 2024 IPO, which raised ~$1.31 billion (₹11,327 crore). Revenue from operations grew from ~$662 million (₹5,705 crore) in FY2022 to ~$1.77 billion (₹15,227 crore) in FY2025 and ~$2.67 billion (₹23,053 crore) in FY2026, while the consolidated net loss was ~$362 million (₹3,117 crore) in FY2025 and ~$482 million (₹4,154 crore) in FY2026 as Instamart expansion weighed on margins. The loss trend improved through FY2026: the quarterly net loss fell from ~$139 million (₹1,197 crore) in Q1 FY2026 to ~$92.8 million (₹800 crore) in Q4 FY2026 and ~$91.8 million (₹791 crore) in Q1 FY2027, when revenue reached ~$790 million (₹6,812 crore). Swiggy sold its roughly 12% stake in bike-taxi company Rapido in September 2025 for about $278 million (₹2,400 crore), and at its August 2026 capital markets day set a target of ~$1.16 billion (₹10,000 crore) in adjusted EBITDA by FY2031.
Revenue Trend Analysis
YoY Change
+51.4%
4-Year CAGR
+41.8%
Peak Year
2026
Trend
Consistent Growth
Swiggy has 5 full fiscal year figures on this page, compounding at +41.8% annually over 4 years. The most recent year saw a 51.4% increase versus the prior year. Annual revenue peaked in fiscal year 2026 at ~$2.7B. Of 4 comparable year-over-year steps, 4 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2026 | ~$2.7B | -~$481.9M | +51.4% | Swiggy (NSE:SWIGGY) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2026-03-31. |
| FY2025 | ~$1.8B | -~$361.6M | +35.4% | Swiggy (NSE:SWIGGY) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2025-03-31. |
| FY2024 | ~$1.3B | -~$272.6M | +36.1% | Swiggy (NSE:SWIGGY) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2024-03-31. |
| FY2023 | ~$958.7M | -~$484.8M | +44.9% | Swiggy (NSE:SWIGGY) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2023-03-31. |
| FY2022 | ~$661.8M | -~$421M | — | Swiggy (NSE:SWIGGY) annual reports, as compiled by S&P Global (via StockAnalysis) Fiscal year ended 2022-03-31. |
Click any row to see year details.
Keep researching Swiggy
Swiggy Revenue and Financial FAQ
What was Swiggy's valuation at its November 2024 IPO?
Swiggy debuted on the National Stock Exchange of India (NSE) and BSE in November 2024 at an initial market capitalization of approximately ₹95,000 crore (~$11.3 billion USD), raising ₹11,327 crore ($1.35 billion USD) in fresh capital and secondary share sales.
What is Swiggy's annual consolidated revenue and growth trajectory?
Swiggy generated annual consolidated revenue exceeding ₹11,200 crore (~$1.35 billion USD) in fiscal 2024, representing over 35% year-over-year revenue growth driven by the explosive expansion of Instamart quick commerce and higher platform fees.
What is Swiggy's Gross Order Value (GOV) across food delivery and quick commerce?
Swiggy's consolidated annual Gross Order Value (GOV) exceeded ₹35,000 crore (~$4.2 billion USD), with food delivery contributing approximately 65% to 70% of total GOV and Instamart contributing roughly 30% to 35% with rapid market expansion.
Is Swiggy's food delivery business profitable on a contribution margin basis?
Yes, Swiggy's food delivery business achieved positive adjusted EBITDA and generated a healthy contribution margin exceeding 6.5% of GOV by fiscal 2024, proving that mature food delivery markets in urban India are structurally profitable.
What are the current unit economics and contribution margins of Swiggy Instamart?
Instamart operates near contribution margin breakeven, improving from -15% contribution margin in early years to approximately -2% to -4% as dark store throughput expands past 1,000 orders per day, with mature dark stores in top metros generating positive cash flow.
Who were the major selling shareholders in Swiggy's 2024 Offer for Sale (OFS)?
Major selling shareholders in the IPO's Offer for Sale included Prosus (Naspers), SoftBank Vision Fund 2, Accel, Elevation Capital, and Tencent, who locked in multi-bagger returns on early venture investments while retaining significant ongoing equity holdings.
How much cash reserves did Swiggy hold following its IPO?
Following the receipt of ₹4,499 crore in primary IPO proceeds, Swiggy held over ₹8,000 crore (~$1 billion USD) in liquid cash and bank balances, providing a massive war chest to fund dark store build-outs and technology infrastructure.
What is Swiggy's Average Order Value (AOV) for food delivery versus Instamart?
Swiggy's Average Order Value for food delivery hovers between ₹400 and ₹450 (~$5 USD), while Instamart AOV averages between ₹460 and ₹520, driven by consumers bundling multiple grocery staples, personal care products, and electronics into single baskets.
How did Swiggy reduce its consolidated operating losses leading up to the IPO?
Swiggy narrowed its net losses by more than 40% between FY23 and FY24 through workforce rationalization, renegotiating dark store lease terms, cutting customer discount subsidies, expanding advertising monetization, and introducing universal platform fees.
What portion of IPO proceeds did Swiggy allocate to Instamart expansion?
Swiggy earmarked approximately ₹1,178 crore (~$140 million USD) of its primary IPO proceeds specifically to expand Instamart's dark store footprint from roughly 550 stores to over 1,000 stores across Tier-1 and Tier-2 Indian cities.
What is the breakdown of Swiggy's key operating costs?
Swiggy's primary operational expenses are delivery partner payouts and fulfillment expenses (~50% to 55% of revenue), employee benefits (~20%), advertising and promotional marketing (~15%), and dark store lease and technology cloud hosting (~10%).
How does Swiggy's financial valuation compare to its public rival Zomato?
At listing, Swiggy traded at an enterprise discount to Zomato (which commanded a ~$25B+ market cap), reflecting Zomato's earlier transition to consolidated net profitability and Blinkit's larger quick commerce market share, presenting an upside re-rating opportunity for Swiggy.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Swiggy Revenue & Financials." CorpDigest, https://corpdigest.com/company/swiggy/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Swiggy reported ~$2.7B in revenue (FY2026).</strong><br>Source: <a href="https://corpdigest.com/company/swiggy/financials" target="_blank" rel="noopener">CorpDigest — Swiggy financials</a></div>Related Financial Audits
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