Swiggy flags quick commerce battle as Amazon, Flipkart join 10-minute race

Swiggy founder and group CEO Sriharsha Majety said competitive intensity in the quick commerce segment remains high, as standalone players like Zepto and BigBasket double down on their offerings while ecommerce giants Flipkart and Amazon enter the 10-minute delivery race.

“Given the rapid growth and massive potential, competitive intensity remains fairly high in general from both ‘QComm-only’ and ‘QComm-also’ players,” Majety said. “The former are modulating investments based on their specific network capacities and strategies, while the latter are calibrating expansion by figuring out if their model should be ‘Quick’-commerce or ‘Quick-enough’-commerce.”

Majety’s comments come as Swiggy reported its April–June quarter (Q1 FY26) financials, with revenue from operations rising 54% year-on-year to Rs 4,961 crore, up from Rs 3,222 crore a year earlier. However, the platform’s net loss more than doubled to Rs 1,197 crore, compared with Rs 611 crore in the same period last year.

Instamart, Swiggy’s quick commerce arm, saw gross order value (GOV) grow 21% year-on-year to Rs 5,655 crore, while operating losses widened to Rs 896 crore, up 181% from Rs 318 crore in Q1 FY25.

The Bengaluru-based company’s total expenses surged to Rs 6,244 crore, compared with Rs 3,908 crore a year ago. Advertising expenditure alone more than doubled to Rs 1,036 crore, reflecting aggressive customer acquisition and retention efforts in the face of mounting competition.

After Instamart and Blinkit (owned by Zomato), newer players like Zepto, BigBasket, Flipkart Minutes, and Amazon Now are deepening their footprint in the segment, raising the stakes for incumbents.

“We remain confident of our stable growth plan, rising consumer salience, and guided trajectory of improvement in contribution margin,” Majety said.