Swiggy Targets Rs 10,000-Crore EBITDA by FY31 on Food, Quick Commerce Growth

Swiggy has set a target of ₹10,000 crore in adjusted EBITDA by FY31, driven by growth in its food delivery, quick commerce and dining-out businesses. In the April-June quarter, the company improved its consolidated adjusted EBITDA by ₹162 crore year-on-year, narrowing its net loss to ₹651 crore.

At its Capital Markets Day 2026, Swiggy said it expects its consolidated Gross Order Value (GOV) to grow more than threefold to ₹2.5 lakh crore by FY31, from ₹67,734 crore in FY26, representing a CAGR of over 30%. The company also announced that domestic ownership crossed 50% on July 1, 2026.

Swiggy projects its food delivery business to generate around ₹5,000 crore in adjusted EBITDA by FY31, supported by affordability initiatives and rising order frequency. The segment reported a GOV of ₹9,490 crore in Q1 FY27, up 18% year-on-year.

Its dining-out platform, Dineout, posted 51% annual growth in FY26 with a GOV of ₹4,600 crore and aims to reach ₹20,000-25,000 crore in GOV and ₹1,000 crore in adjusted EBITDA by FY31.

"Its board has approved raising the foreign shareholding cap to 49.5 per cent ahead of its 13th annual general meeting on August 18, 2026. “We are operating three of India’s largest and fastest-growing consumer opportunity spaces, food-delivery, quick commerce and out-of-home consumption, with each of these businesses having the potential to compound over the coming years,” said Sriharsha Majety, Managing Director and Group CEO, Swiggy.

Overall, Swiggy expects adjusted EBITDA margins to reach 4% of GOV by FY31, while remaining debt-free with a cash balance of ₹14,400 crore.