{
  "id": 16093790,
  "title": "Swiggy CEO Sriharsha Majety says rival Blinkit has the stronger flywheel, aims to fix basics before expanding",
  "url": "https://urgent.news/2026/10/22/swiggy-ceo-sriharsha-majety-says-rival-blinkit-has-the-stronger",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-22T18:47:28.000Z",
  "source": {
    "name": "Economic Times Tech",
    "slug": "economic-times-tech",
    "url": "https://economictimes.indiatimes.com/tech/startups/swiggy-ceo-sriharsha-majety-says-rival-blinkit-has-strong-flywheel-aims-to-fix-basics-before-expanding/articleshow/135126074.cms"
  },
  "original_language": "en",
  "account": "Swiggy CEO Sriharsha Majety conceded that rival Blinkit possesses a more robust business model, stating Swiggy must fortify its own operations before exploring new ventures. Majety, speaking during the company's earnings call, attributed Blinkit's success to their entrenched flywheel, which has steadily compounded over time and contributed to a more resilient business.\n\nMajety emphasized Swiggy's focus on establishing a stable and financially sustainable business with a clear path to reaching EBITDA zero. He warned against using cash reserves to venture into new areas simply because the funds are available. \"I think our first job is to build a stable, resilient business that has the clearest line of sight to EBITDA zero. The optionalities come after that,\" Majety conveyed on the earnings call following the company's September quarter results.\n\nThe Swiggy CEO underscored the importance of addressing foundational issues before expanding. He revealed that Swiggy aims to double its current size and enhance contribution margins. Majety directed his attention towards improving existing areas to demonstrate execution and focus.\n\nIn his shareholder letter, Majety outlined Swiggy's strategy to compete in the market. He suggested that differentiated assortment, rather than speed and price, will distinguish the winners. The company reported a 36% year-on-year growth in operating revenue to Rs 7,571 crore for July-September, while its net loss narrowed by 16% to Rs 922 crore compared to the previous year.\n\nSwiggy's food delivery gross order value (GOV) expanded by 17.7% year-over-year to Rs 10,054 crore, with a 5.9% increase from the preceding month. Instamart's GOV surged 31.4% year-over-year to Rs 9,230 crore, and its net order value (NOV) grew by 33% to Rs 6,553 crore. Additionally, the company opened 69 new dark stores during the quarter, increasing its network to 1,240 stores. Instamart's contribution margin is anticipated to improve by around 80 basis points once the transition to an inventory model, from the current marketplace model, is fully implemented.",
  "summary": "He said Swiggy’s priority is a stable business with “the clearest line of sight to Ebitda zero,” and that it would not use its cash reserves to open new fronts simply because the money is available. “I think our first job is to build a stable, resilient business that has the clearest line of sight to EBITDA zero. The optionalities come after that,” he said on the call following the announcement…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}