Swiggy Limited · NSE:SWIGGY
Swiggy — Investor Presentation (August 2025)
52 slides from Swiggy's investor presentation, August 2025
Slide 1: Corporate Presentation FY 2024-25
Corporate Presentation FY 2024-25
Slide 2: To elevate the quality of life for the urban consumer with unparalleled convenience
CONFIDENTIAL “To elevate the quality of life for the urban consumer with unparalleled convenience” 2 2
Slide 3: Swiggy is a new-age, consumer-first technology company offering an easy-to-use unified platform
Swiggy is a new-age, consumer-first technology company offering users an easy-to-use unified platform Consumer convenience platform Food Dining out and Grocery and Household Other hyperlocal delivery Events items delivery services Restaurant partners Merchant partners Brand partners Delivery partner
Slide 4: Pioneers of high-frequency hyperlocal commerce categories driven by innovation-led culture
Pioneers of high-frequency hyperlocal commerce categories driven by our innovation- led culture Innovation is an integral part of our DNA which encourages us to ideate, experiment and iterate constantly Membership programme Convenience-first providing benefits across Pioneer in Food Delivery - 2014
Slide 5: Urban convenience platform built by adding adjacent services over a decade
Urban convenience platform built by adding adjacent services over a decade Source: Swiggy Limited IPO Prospectus, Annual Report FY 2024-25 5
Slide 6: Strong leadership team of dynamic entrepreneurs and professionals
Strong leadership team of dynamic entrepreneurs and professionals with 52 years of total Swiggy experience… Sriharsha Majety Lakshmi Nandan Reddy Obul Rohit Kapoor Phani Kishan Addepalli Managing Director & Group CEO Whole-time Director – Head of Innovation CEO–Food Marketplace Chief Growth Officer
Slide 7: Backed by a reputed Board with high governance and sustainability standards
…backed by a reputed Board with high governance and sustainability standards Independent Directors Non-Executive Directors ✔ Strong corporate governance framework Anand Kripalu Shailesh Vishnubhai Haribhakti Roger Clark Rabalais Chairperson Blue Star Limited, L&T Finance Holdings Limited, Raymond Li
Slide 8: Industry Overview
G Swiggy Industry Overview
Slide 9: India is transforming into a consumption led economy
India is transforming into a consumption led economy… Increasing Sizeable Fast-growing Urbanised addressable households 3rd c.6% fastest ~213mn 67% 80% largest growing nuclear GDP 2050 2024 economy major households2 contributed by CY2028 economy1 by cities Underpinned by the increasing affluence, he
Slide 10: Led by substantial growth in digitally-native consumer base
… led by a substantial growth in digitally-native consumer base Internet funnel- India Internet funnel- China % of total population; 2024,2028P % of total population; 2024 CAGR 2024 2028P 2024–28P 2024 Access to Internet Total population 810–840mn 1,040–1,080mn 6–7% 1,149mn+ with access to internet
Slide 11: Swiggy operates in large markets with significant growth headroom
Swiggy operates in large markets with significant growth headroom India’s online food delivery and organized retail market exhibits strong headroom for growth … CAGR1: CAGR1: 9-10% $107-112bn 9-10% $1,355-1,449bn Food services Retail $78bn $976bn Food services Retail CAGR1: CAGR1: 15-22% 53-78% $16-
Slide 12: Rapid growth in online food delivery driven by frequency, consumer base and premiumisation
Rapid growth in online food delivery is driven by increasing frequency, growing consumer base and premiumisation Monthly Online Food Delivery Frequency – India, China, United States (in numbers) – (2024) 8-10 5-10 • Improving consumer purchasing power 4-6 • Increasing occasions of eating out • Busy
Slide 13: Quick commerce is the next big step in retail in India
Quick commerce is the next big step in retail in India - Online grocery remains significantly underpenetrated reflecting the large headroom for growth Convenience as the central Highly underpenetrated Quick Commerce market Digital penetration in Grocery is very low theme for the consumer offering ex
Slide 14: Platform overview
G Swiggy Platform overview
Slide 15: Swiggy at a glance - Scaled unified platform with significant growth headroom
Swiggy at a glance - Scaled unified platform with significant growth headroom 17.7 million $1,915 million 515,320 $5,457 million 32% Average Monthly Transacting Average MTUs Adjusted Revenue GOV (B2C) GOV CAGR Delivery Partners (FY25) (FY25) (FY25) (FY22-25) (FY25) 14.7 million $852 million 238,083
Slide 16: Strong network effects driven by our wide user and partner base
Strong network effects driven by our wide user and partner base Advertising Food Delivery services Reservation & Quick Commerce payments Partner services Multiple use driving up cases driving up engagement users and time and retention Restaurant, on the app Users Table reservation Merchant, and Deli
Slide 17: Continue to acquire new users; growth opportunity through reactivation
Continue to acquire new users; growth opportunity through reactivation too, led by new use-cases and affordability-led penetration into consumer wallet Online Commerce Users Transacts online across various digital platforms ~220-240 million Total ETU on Swiggy (Ever transacted users) ~128 million (a
Slide 18: Expansion of offerings, partner network, basket size and dark store footprint have driven growth
Expansion of offerings, partner network, basket size and dark store footprint have driven growth Number of cities Indian cities with a population of 50,000+ with e-commerce presence 950+ INNOVATIVE OFFERINGS EXPANDED PURCHASE MISSIONS presence ✔ Offer segmented services for a wide ✔ Offer wide produ
Slide 19: B2C GOV growth accelerating led by shift towards Quick-commerce
B2C GOV growth accelerating led by a shift in the GOV mix towards the rapidly growing Quick-commerce segment, while Food delivery continues to grow steadily B2C GOV growth accelerating on the back of MTU growth Quick Commerce now contributes a third of the total B2C GOV and cross-pollination of serv
Slide 20: Platform MTU continue to rise secularly; GOV/MTU continues to compound
Platform MTU continue to rise secularly; with more users using >1 service and increased user spend on platform, GOV/MTU continues to compound Monthly GOV / MTU (INR) - 1.3x increase in user spend on the platform Over a third of our annual user-base are using >1 service on the platform over FY22-FY25
Slide 21: Preferred channel for restaurant, merchant, brand and delivery partners
We are a preferred channel for restaurant partners, merchant partners, brands and delivery partners, supporting their business as an extension of their service offering Value for restaurant partners Value for merchant and brand partners Value for delivery partners 238K 23% 1,021 50X 515K 28% Average
Slide 22: ESG commitments: Environment, Social and Governance goals
Environment Social by 2030 Governance by 2030 2025 to 2030 Reducing Emissions Excellence in Corporate Nurturing Networks & Communities Governance ● 100% electric fleet by 2030 ● Source locally available harvests ● 100% RE in direct operations by 2030 ● Ethical leadership and sustainable ● Responsibl
Slide 23: Commitments to Outcomes: Impact in FY 2024-2025
Commitments to Outcomes: Impact in FY 2024- 2025 Delivering Safely She The Change, March 2024 XL EV Delivery Fleet, October 2024 Swiggy Skills, September 2024 Swiggy Sustainability Summit, Swigstree Brigades, December 2024 Swiggy Serves, January 2025 Milky Way, April 2025 March 2025 23
Slide 24: Product-led Sustainability: Impact in FY 2024-2025
Product-led Sustainability: Impact in FY 2024- 2025 Eco Saver, April 2024 Cutlery Opt Out, September, 2024 Swiggy Seal, October 2024 Partnership with Sulabh International, March 2025 24
Slide 25: Food Delivery
QE Food Delivery
Slide 26: Swiggy has successfully navigated India's intricate Food Delivery landscape
Swiggy has successfully navigated India’s intricate Food Delivery landscape… Complex nature of Food Delivery …solved through Swiggy’s business… consumer-first approach Analytics backed personalised Rapidly changing consumer recommendations enhancing user preferences experience Highly fragmented and
Slide 27: Marketplace with value propositions for all stakeholders
…and has created a marketplace with value propositions for all stakeholders 1b Commissions retained less Swiggy funded Discounts 3 Fee from User 5 Advertisement Revenue Restaurant Partner 1b 3 5 4 1a 5 1 Item total net of discounts + 5 GST and Restaurant charges Advertisement Revenue 2 Delivery Fee
Slide 28: Food Delivery: consistent growth with established profitability
Consistent growth with established profitability - Swiggy Food GOV YoY growth stood at 16.4%, with Adjusted EBITDA Margins expanding 220 bps to 2.0% of GOV GOV (INR Cr) Adjusted Revenue (INR Cr) 28,783 7,265 24,717 21,517 6,082 18,479 5,179 4,430 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Contribution
Slide 29: Consistent improvement across key operating metrics
Consistent improvement across key operating metrics Average MTU (million) AOV (INR) Grew MTUs at over 15% YoY 458 14.7 12.7 Steady AOV increase led by 11.6 428 inflation, larger basket sizes and 9.9 416 407 premium offerings 23% CAGR in number of orders FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25
Slide 30: Quick Commerce
G Swiggy Quick Commerce
Slide 31: Swiggy is well positioned to ride the Quick Commerce wave in India
Swiggy is well positioned to ride the Quick Commerce wave in India… Curated portfolio of …Made available Seamless fulfilment Made possible ~20k SKUs across through precise in a quick delivery through a dense all major retail insights provided time of ~13 network of 1,021 categories… to merchant part
Slide 32: Brand-aligned business model gaining consumer salience
…with a brand-aligned business model gaining consumer salience 4 Advertisement Revenue Brand Partner 1 Item total net of discounts + Fee from user 1a Item total + Fee from user – Merchant Merchant funded 2 discounts net of Swiggy Partner Delivery fee + Delivery tip commission 1b 4 3 User 2 3 1 2 1b
Slide 33: Quick Commerce demonstrating robust growth and improving profitability
Quick Commerce – demonstrating robust growth (82.0% YoY) and secularly improving profitability, Growth investments dragged Adj. EBITDA margin to -14.3% GOV (INR Cr) Adjusted Revenue (INR Cr) 14,683 2,252 82.0% 107.1% 8,069 1,088 5,118 547 1,643 124 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Contributio
Slide 34: Strategic Quick Commerce expansion backed by strong operating metrics
Strategic Quick Commerce expansion to improve consumer proposition and backed by strong operating metrics Average MTU (million) AOV (INR) Quick Commerce is in the midst of a 514 rapid expansion phase 7.1 460 Half of the total darkstores were added in FY25, and have an avg age of <4 months 4.2 3.2 39
Slide 35: Rapid ramp-up in darkstore footprint to capture accelerated growth
Thrust on network expansion and rapid ramp-up in darkstore footprint to capture accelerated growth in category, dragging average store orders in short-run Darkstore footprint reached 4 million sq. ft as guided (up 62% QoQ) City-wise presence has gone up from 27 to 124 (~5x) Darkstore count Area (mil
Slide 36: Balanced GOV distribution; take rate improved, contribution margin pressured
Balanced GOV distribution, Take rate continued to improve, however competitive intensity has pulled down contribution margin in near term Balanced spread of business across country with largest city contributing Significant darkstore additions across both metros (densification) ~19% and non-metro (c
Slide 37: Out-of-home Consumption
G Swiggy Out-of-home Consumption
Slide 38: Swiggy expanding beyond Food Delivery with restaurant experiences
Swiggy expanding beyond Food Delivery, offering a wrapper around restaurant experiences … Out-of-home Consumption key offerings ■ Dineout: Provides restaurant dining solutions for users to discover restaurants, access menus and images, make reservations, benefit from attractive promotions, and make
Slide 39: Unlocking additional revenue streams for the entire ecosystem
… and unlocking additional revenue streams for the entire ecosystem 1b Commissions retained less Swiggy funded Discounts 2 Fee from User 3 Advertisement revenue 1b 2 3 1 1a Bill value - Restaurant Bill value net of discounts funded discounts, net of Swiggy Commission User Restaurant Partner 2 3 Fee
Slide 40: Out-of-Home Consumption GOV grew 41% YoY and turned profitable in Q4FY25
Out-of-Home Consumption GOV grew 41% YoY and turned profitable in Q4FY25 with an Adjusted EBITDA margin of 0.3% GOV (INR Cr) Adjusted Revenue (INR Cr) Out-of-home Consumption Out-of-home Consumption 3,084 246 2,183 157 1,105 78 FY23 FY24 FY25 FY23 FY24 FY25 Contribution margin (% of GOV) Adjusted EB
Slide 41: Sustained growth in orders led by more restaurants joining Swiggy
Sustained growth in orders led by more restaurants joining hands with Swiggy Total transactions (millions) AOV (INR) Out-of-home Consumption Out-of-home Consumption 9.5 3,344 3,129 3,242 7.0 3.3 FY23 FY24 FY25 FY23 FY24 FY25 Average monthly active restaurants “ Dineout - One of the very selective an
Slide 42: Others
Othe rs
Slide 43: Supply Chain and Distribution - end-to-end supply chain solutions
Supply Chain and Distribution - Comprehensive, end-to-end supply chain solutions Segment overview ■ Offering comprehensive supply chain services to wholesalers and retailers ■ Services offered include procurement, warehouse management including in-warehouse processing and order fulfilment ■ Business
Slide 44: Platform Innovation - solving for users' convenience needs
Platform Innovation - Continuous endeavour to solve for users’ convenience needs underpinned by an innovation-led culture, in a capital-efficient manner Segment overview Pyng SNACC ■ Incubate new service offerings to create more frequent and meaningful touchpoints for users ■ Structured framework to
Slide 45: Appendix
(¢) Swiggy Appendix
Slide 46: Adjusted Revenue and Adjusted EBITDA reconciliation
Adjusted Revenue and Adjusted EBITDA reconciliation Adjusted Revenue (INR Cr) FY22 FY23 FY24 FY25 Revenue from operations 5,705 8,265 11,247 15,227 Add: user delivery charges 1,156 1,215 1,024 884 Add: Fee from user (that is not already included in revenue from operations) - - 49 221 Adjusted Revenu
Slide 47: Consolidated Cash Balance
Consolidated Cash Balance Consolidated closing cash balance (INR Cr) FY24 FY25 Adjusted EBITDA -1,836 -1,911 Add: Treasury income realised 287 529 Less: Capital Expenditure incurred -344 -743 Less: Loan movement (including interest) 119 -200 Add: Other items 137 -108 Cash (burn) / surplus -1,637 -2,
Slide 48: Glossary (1/4)
Glossary (1/4) Term Definition Consolidated completed orders of consumer facing businesses i.e. (i) Food delivery, plus (ii) Quick Commerce, plus (iii) Out of Home Consumption, excluding Platform B2C Total Orders Innovations Consolidated Gross Order Value of completed order for consumer facing busin
Slide 49: Glossary (2/4)
Glossary (2/4) Term Definition Total Orders Total completed Food Delivery orders on the platform Total monetary value of completed Food Delivery orders (gross of any discounts) plus (i) user delivery charges (net of any discounts, including free delivery discounts Gross Order Value (GOV) provided fo
Slide 50: Glossary (3/4)
Glossary (3/4) Term Definition Revenue plus (i) user delivery charges collected and passed on to delivery partners (net of any discounts, including free delivery discounts provided through Swiggy Adjusted Revenue One membership program), plus (ii) fee from users collected and netted off from platfor
Slide 51: Glossary (4/4)
Glossary (4/4) Term Definition (i) Total monetary value of goods sold to wholesalers and retailers, plus (ii) Revenue from supply chain management and enablement services that we provide to our Revenue wholesalers and retailers Adjusted Revenue Same as revenue Supply Chain and Distribution Adjusted
Slide 52: Disclaimer
Disclaimer This document, except for historical information, may contain certain forward-looking statements including those describing the Company’s strategies, strategic direction, objectives, future prospects, estimates etc. Forward-looking statements can be identified generally as those containin