Swiggy Limited · NSE:SWIGGY
Swiggy — Investor Presentation (November 2025)
33 slides from Swiggy's investor presentation, Nov 10, 2025
Slide 1: Corporate Presentation
Corporate Presentation November 2025
Slide 2: Key highlights
Key highlights Focus on delivering unparalleled convenience to urban users 1 Pioneering hyperlocal commerce solutions tailored to consumer needs, supported by strong execution 2 Food delivery: profit engine driving growth, margin expansion and sustained cash generation 3 Instamart’s triple-digit gro
Slide 3: Focus on delivering unparalleled convenience to urban users
PLATFORM FOR CONVENIENCE 1 Focus on delivering unparalleled convenience to urban users New-age, consumer-first tech company offering an easy-to-use integrated platform… …elevating the quality of life for urban consumers by providing unparalleled convenience Food Dining out and Grocery and Household
Slide 4: Pioneers of high-frequency hyperlocal commerce categories in India driven by an innovation-led culture
PIONEERING SOLUTIONS Pioneers of high-frequency hyperlocal commerce categories in India driven by an 2 innovation-led culture PIONEERED AND CREATED STRATEGIC ACQUISITIONS TWO LARGE CONSUMER INTERNET EXPANDING CATEGORIES IN INDIA PLATFORM CAPABILITIES Membership programme providing benefits across of
Slide 5: Growth opportunity through new user acquisition and reactivation
PIONEERING SOLUTIONS Growth opportunity through new user acquisition and reactivation; led by new 2 use-cases and affordability-led penetration into consumer wallet ONLINE COMMERCE USERS Transacts online across various digital platforms ~230-250 million1 TOTAL ETU ON SWIGGY (Ever transacted users) ~
Slide 6: Consistent growth driven by healthy user additions and increasing engagement
FOOD DELIVERY 3 Consistent growth driven by healthy user additions and increasing engagement Monthly Transacting Users Gross Order Value In mm y-o-y growth INR Cr. y-o-y growth 18.8% Higher Engagement 16.6% 16.0% 17.2% 13.4% Q2FY26 witnessed 19.2% 18.8% 18.8% 17.6% double-digit YoY order 14.6% growt
Slide 7: Strengthening platform's appeal to a larger user base through new use cases
FOOD DELIVERY Strengthening platform’s appeal to a larger user base through new use cases and 3 maintaining optimal affordability 125mm+1 Swiggy Food delivery Significant runway of growth Expanding MTU base is critical ETU Swiggy’s MTUs represent only For the long-term health of the food ~13%1 of it
Slide 8: Steady growth unlocking scale driven operating leverage benefits enhancing profitability
FOOD DELIVERY 3 Steady growth unlocking scale driven operating leverage benefits enhancing profitability Q2FY24 - Q2FY26 as a % of GOV INR Cr. growth (%) 25.0% 25.4% 25.1% 25.0% 25.4% 25.7% 25.8% 24.5% 24.6% Adjusted 2,206 1,533 1,730 1,808 1,860 1,867 2,080 Revenue1 1,535 1,559 +43.7% Advertising r
Slide 9: Consistent triple digit growth rates combined with improving profitability
QUICK COMMERCE 4 Consistent triple digit growth rates combined with improving profitability Gross Order Value Contribution Profit Adjusted EBITDA INR Cr. y-o-y growth Average MTU (mm) INR Cr. Margin as % of GOV INR Cr. Margin as % of GOV 12.0 11.1 9.8 (1.9%) (2.6%) (10.6%) (12.1%) (4.6%) (4.6%) 7.0
Slide 10: Balanced growth in order volumes and AOV driving the Quick Commerce platform expansion
QUICK COMMERCE Balanced growth in order volumes and AOV driving the Quick Commerce platform 4 expansion Gross Order Value # of Orders Average Order Value INR Cr. y-o-y growth mm y-o-y growth INR y-o-y growth 39.7% 77.2% 107.6% 107.6% 65.0% 25.7% 48.7% 13.3% 101.0% 7,022 101 697 5,655 92 612 89 4,670
Slide 11: Wallet share expansion driven by significant improvement in the consumer proposition
QUICK COMMERCE 4 Wallet share expansion driven by significant improvement in the consumer proposition Consumer proposition Cohort analysis (GOV / User) SPEED Improvement in delivery times Quarter Q0 Q1 Q2 Q3 Q4 Q5 Q6 ~13 minutes1 Q4FY24 100% 240% 303% 322% 304% 346% 414% BETTER SELECTION CATERING TO
Slide 12: Focus on wallet share expansion & basket-value growth leading to improved profitability
QUICK COMMERCE 4 Focus on wallet share expansion & basket-value growth leading to improved profitability ....delivering sharp AOV expansion by catering to more Increasing wallet share led by differentiated offerings.... purchase missions.... GOV / User (INR / Month)1 AOV (INR per order) Net AOV (INR
Slide 13: Expanded network with larger darkstores capable of 2x the present throughput
QUICK COMMERCE Expanded network with larger darkstores capable of 2x the present throughput; 4 operating leverage driving Contribution upswing Faster growth in footprint driven by higher share of larger Network reached 1,102 darkstores across 128 cities stores, including Megapods 44 67 124 127 128 3
Slide 14: Clearly identified margin improvement levers driving the path to profitability
QUICK COMMERCE 4 Clearly identified margin improvement levers driving the path to profitability Q4FY25 Q1FY26 Q2FY26 Emphasis on profitable basket-value growth Contribution GOV / user increased 15% QoQ to ~INR 1,950/month (Q2FY26) Margin (2.6%) (% GOV) (4.6%) (5.6%) Higher advertising revenue Scale
Slide 15: Out-of-Home consumption segment has been charting a strong path quietly
OUT-OF-HOME CONSUMPTION Out-of-Home consumption segment has been charting a strong path quietly: 50%+ 5 YoY GOV growth and has been profitable for the last 3 quarters Gross Order Value Adjusted EBITDA INR Cr. y-o-y growth xx Avg. Monthly Active Restaurants (‘000) INR Cr. Adj. EBITDA as % of GOV Earl
Slide 16: Strong network effects driven by increasing user and partner base on a unified platform
SCALABLE PLATFORM 6 Strong network effects driven by increasing user and partner base on a unified platform… Advertising re Demand services Mo Food Delivery Reservation & Quick Commerce payments Partner services Multiple use driving up cases driving up engagement users and time and retention Restaur
Slide 17: …which becomes amplified with geographical overlap of multiple offerings…
SCALABLE PLATFORM 6 …which becomes amplified with geographical overlap of multiple offerings… Number of cities Indian cities with a population of 50,000+ with e-commerce INNOVATIVE OFFERINGS EXPANDED PURCHASE MISSIONS presence 950+2 ✔ Offer segmented services for a wide user ✔ Offer wide product ass
Slide 18: …driving cross pollination and secular platform growth
SCALABLE PLATFORM 6 …driving cross pollination and secular platform growth Growing number of users using multiple service Driving secular platform MTU growth MTU in mm 1.3x 1.4x 22.9 21.6 28.1% 30.5% 34.8% 35.4% 35.7% 19.8 17.8 17.1 71.9% 69.5% 65.2% 64.6% 64.3% Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q2
Slide 19: Accelerating B2C GOV growth led by a shift in the GOV mix towards Quick-commerce
STRONG FINANCIAL PROFILE Accelerating B2C GOV growth led by a shift in the GOV mix towards the rapidly 7 growing Quick-commerce segment, while Food delivery continues to grow steadily B2C GOV growth accelerating on the back of MTU growth Quick Commerce now accounts for 40%+ of the total B2C and cros
Slide 20: The business model is built for operating leverage (1/2)
STRONG FINANCIAL PROFILE The business model is built for operating leverage, with a maturing network, disciplined 7 capital allocation, and a clear path to profitability across all major segments (1/2) Profitability waterfall (% of GOV) – Food Delivery FY24 FY25 Q2 FY26 Adjusted Revenue 24.6% 25.2%
Slide 21: The business model is built for operating leverage (2/2)
STRONG FINANCIAL PROFILE The business model is built for operating leverage, with a maturing network, disciplined 7 capital allocation, and a clear path to profitability across all major segments (2/2) Profitability waterfall (% of GOV) – Quick Commerce FY24 FY25 Q2 FY26 Adjusted Revenue 13.5% 15.3%
Slide 22: Reduction in cash burn driven by rising profits in the Food delivery business
STRONG FINANCIAL PROFILE Reduction in cash burn driven by rising profits in the Food delivery business, 7 stabilizing losses in the Quick Commerce and lower capex and working capital needs INR Cr. Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Commentary Adjusted EBITDA (341) (491) (732) (813) (695) Food Delive
Slide 23: Strong leadership team of dynamic entrepreneurs and professionals
LEADERSHIP & GOVERNANCE 8 Strong leadership team of dynamic entrepreneurs and professionals 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 Prior Intellectu
Slide 24: Backed by a reputed Board with high governance and sustainability standards
LEADERSHIP & GOVERNANCE 8 …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 Chairperson, Audit Committee Indepe
Slide 25: Significant progress toward Swiggy's 2030 sustainability goals
LEADERSHIP & GOVERNANCE Significant progress toward Swiggy’s 2030 sustainability goals highlights our 8 commitment to responsible growth COMMUNITY CLIMATE ⚫ Progressing towards fleet electrification Partnership Reducing ⚫ 7x growth in EV fleet over the last year via with Sulabh ⚫ Free hygiene & sani
Slide 26: Appendix
(¢) Swiggy Appendix
Slide 27: Supply Chain and Distribution - Comprehensive, end-to-end supply chain solutions
Supply Chain and Distribution - Comprehensive, end-to-end supply chain solutions ■ Offering comprehensive supply chain services to wholesalers and retailers ■ Services offered include procurement, warehouse management including in-warehouse processing and order fulfilment ■ Business focused on enhan
Slide 28: Platform Innovation - Continuous endeavour to solve 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 Pyng SNACC ■ Incubate new service offerings to create more frequent and meaningful touchpoints for users ■ Structured framework to assess the produ
Slide 29: 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 30: 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 31: 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 Revenue1 One membership program), plus (ii) fee from users collected and netted off from platfo
Slide 32: 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 Revenue1 Same as revenue Supply Chain and Distribution Adjusted
Slide 33: 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