Mumbai: Swiggy Limited, India’s pioneering on-demand convenience platform, today outlined its FY31 vision at Capital Markets Day 2026, setting out its goal to build a ₹10,000 Cr. Adjusted EBITDA business, more than tripling consolidated Gross Order Value (GOV) to approximately ₹2.5 Lakh Cr. from ₹67,734 Cr. in FY26, implying a 30%+ GOV CAGR through 2031 alongside expanding profitability.
Sriharsha Majety, Managing Director and Group CEO, Swiggy, said, “Our confidence in achieving our five-year EBITDA goal is rooted in the strength of our fundamentals. We have always believed that if we stay focused on solving large consumer problems and execute with discipline , the financial outcomes will follow. We are operating in 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”.
Food Delivery: Built on Bold, Category-Expanding Bets to Drive Above-Market Growth and ~5x Adjusted EBITDA by FY31 India’s food services market is on track to grow from ~$90 Bn in 2026 to ~$150 Bn by 2031.
Within this, two structural levers stand out: closing the frequency gap, since ~70% of the users today transact less than once a month and, cracking affordability, which can unlock 5-7 percentage points of higher category growth on its own. By FY31, Swiggy expects Food Delivery GOV to grow 2.5-3.5x and ~₹5,000 Cr. in Adjusted EBITDA driven by Toing and other
affordability led initiatives.
Powered by strong execution across operations, delivery efficiency, partner enablement, network scale, accelerated MTU growth and innovation, Swiggy’s Food Delivery business posted ₹9,490 Cr. GOV in Q1 FY27, up 18% YoY, with adjusted EBITDA runrate of ₹292 cr, up by 5x from Q1 FY25.
Dineout: Out-of-Home Consumption Completes a Year of Profitability Following a breakout year, Dineout, Swiggy’s Out-of-Home Consumption business, is entering its next phase of growth with a clear path to ~5x topline growth and ₹1,000 Cr. in Adjusted EBITDA by FY31.
The business is underpinned by a strong and steadily improving core engine. The next few years will see Swiggy deepen its presence across dining-out occasions, and expand its suite of offerings and use cases. This will help it tap into significant headroom for growth, drive higher consumer engagement, merchant adoption and monetisation.
