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As losses mount in Q1FY26, the company finds itself in conflict with a former ally, behind on efficiency and committed to the costs of experimentation.

Investors eager to ride India’s quick-commerce boom are already losing confidence in Swiggy. A Rs 7,300* crore war chest and little urgency, its restraint is starting to hurt.
Surprisingly strong metrics alongside aggressive expansion mask a lurking balance-sheet risk. Moreover, competition is not going to be kind to the retail giant any time soon.
Brands are racing to build rapid delivery on their own channels—despite unclear economics and no proven success stories. Will they succeed?