Swiggy bets on new formats to fuel food delivery growth

Co targets steady-state margin of 5% of gross order value, balancing growth and profitability

- Sowmya Ramasubramanian

Swiggy Ltd will continue to focus on its new initiatives like Bolt, DeskEats, 99 Store, and NoSugarAdded, as these platform innovations helped the food delivery segment’s revenue grow 22% year-on-year to ₹2,206 crore in the July-September quarter, Rohit Kapoor, CEO of Swiggy’s food delivery arm, told Mint.

“Through constant innovation and sharper segmentation, from our ‘High-Protein’ and ‘No Added Sugar’ categories to ‘Deskeats’ across tech parks and ‘Food on Train,’ we're ensuring every consumer finds an option tailored to their needs. Moreover, initiatives like ‘Bolt,’ focusing on speed, and the ‘99 Store,’ focusing on affordability, make food delivery as seamless and accessible as possible,” Kapoor said.

Swiggy’s food delivery arm, its second-largest business by revenue, saw its fastest growth in two years during the quarter, adding one million new users, Kapoor said, The segment’s gross order value rose to ₹8,542 crore in the September quarter from ₹7,191 crore a year earlier, staying within guidance, while its average monthly transacting users grew 17% to 17.2 million from 14.7 million.