Synopsis
Swiggy founder Sriharsha Majety emphasised that strategic clarity is crucial for survival during aggressive spending cycles, drawing parallels with past industry booms. He stated the company is balancing growth and profitability, aiming to build a durable business rather than sacrificing market share for short-term relevance.“Honestly, we do not know yet how many players will be on the other side of all of this spending and overall category growth,” Majety said during Swiggy’s earnings call. “But if anything, we’ve learned from multiple categories like modern trade or telecom that whoever got clarity earlier is the one that is still standing today.”
Responding to a question on whether Swiggy will give up market share to prioritise growth, Majety said the company was balancing growth and profitability.
“If fighting for short-term relevance is spending in places that will hurt us later, I think that will compromise our long-term relevance. It’s a balancing act, but I don’t think there’s any commitment to go and lose market share,” he said. “I think it’s important to build a more durable business… but as we mentioned, even more growth will come from executing the clarity of positioning that we’ve been talking about.”
His comments come at a time when Swiggy, which posted its quarterly results on Friday, reported a sequential contraction in its quick commerce gross order value (GOV) for the first time ever. Quick commerce has been a key growth driver for the company over the past few years, and now contributes over 16% to its overall revenue.
Majety’s comments add to what Eternal-owned Blinkit, Swiggy’s biggest competitor, recently said about potential moderation in growth as quick commerce companies pivot towards profitability.
Swiggy’s quick commerce business reported a GOV of Rs 7,881 crore in the fourth quarter of FY26, 0.7% lower than the December quarter. The company’s revenue from Instamart also grew only marginally to Rs 1,057 crore in the March quarter.
Overall, the platform reported 45% on-year growth in revenues, at Rs 6,385 crore, while its losses narrowed 26% to Rs 800 crore.
