Swiggy co-founder and Group CEO Sriharsha Majety said it would prioritize current businesses and an EBITDA breakeven path before new initiatives, according to Investing.com’s AI-assisted transcript, as Instamart posted an overall quarterly loss.
Swiggy’s consolidated revenue from operations rose 36.1% year over year to ₹7,571 crore for the quarter ended Sept. 30, 2026. Its consolidated net loss narrowed to ₹922 crore from ₹1,092 crore a year earlier. Food Delivery reported positive adjusted EBITDA, while Instamart recorded an overall loss of ₹895 crore and an adjusted EBITDA margin of negative 9.7% of gross order value (GOV). EconoTimes previously covered Instamart’s quarterly loss.
Instamart’s GOV reached ₹9,230 crore, up 16.7% from the prior quarter. Swiggy added 69 dark stores, taking the network to 1,240 locations covering 5.2 million square feet. The company reported Instamart’s contribution margin at negative 1.0% of GOV, down 82 basis points from the previous quarter.
Majety put Swiggy’s scale ambition at about twice its current level and said the company also needs to strengthen its contribution. He said management would concentrate on its current operations before considering additional growth areas. Investing.com’s transcript also attributed to Majety a favorable comparison with rival Blinkit, which he said had built resilience through years of growth.
Swiggy’s shareholder letter says it plans to start shifting Instamart from a marketplace model to an inventory model midway through Q3 FY27. The company expects the transition to take two to three quarters and estimates that full implementation could increase contribution margin by about 80 basis points. That estimate applies to contribution margin; Instamart’s reported adjusted EBITDA margin is a separate measure.
