Swiggy's shares have seen a surge as the company began recovering market share from Q4 FY24 and is demonstrating robust growth in its quick commerce business. DAM Capital has set a target price of ₹515 for the stock. Furthermore, inclusion in the MSCI Global Standard Index from August 26, 2025, has further bolstered investor confidence.
Swiggy Share Price: Shares of the food delivery company Swiggy have proven beneficial for investors in recent days. Currently, the company holds a 43% market share and has been experiencing recovery since Q4 FY24. Brokerage firm DAM Capital estimates that Swiggy's revenue will grow at a 28% CAGR between FY25–FY28 and that the company will reach adjusted EBITDA profitability by FY28. Particularly, the quick commerce business, Instamart, is being viewed as a long-term growth driver for the company. The inclusion in the MSCI Global Standard Index on August 26, 2025, is also reinforcing investor confidence.
Swiggy in the Market Share Battle
Currently, Swiggy holds 43 percent of the food delivery market share, while Eeternal possesses 57 percent. However, since Q4 FY24, Swiggy has begun to regain market share. This indicates that the company is continuously strengthening its position, and customers are increasingly favoring it again.
There is a positive sentiment in the market regarding Swiggy's business. The company's profitability roadmap is instilling confidence in investors. Experts say that the food delivery market is currently dominated by a duopoly, i.e., two major companies. Swiggy's position in this duopoly is continuously strengthening, and the company is expected to benefit from this in the coming years.
Brokerage House Report
Brokerage firm DAM Capital stated in its report that Swiggy's revenue could grow at a CAGR of approximately 28 percent between FY25 and FY28. The firm estimates that the company will reach adjusted EBITDA profit by FY28. Specifically, the company's quick commerce business, Instamart, could become a significant growth driver in the future.
Target Price Increased
DAM Capital has set a target price of ₹515 for Swiggy. This is about 30 percent higher than the current price. According to the report, Swiggy's food delivery business has reached break-even at the EBITDA level in FY25, meaning its losses and profits are now equal. Meanwhile, losses in the quick commerce segment are also gradually decreasing as the company emphasizes store productivity and cost management.
Swiggy's Focus on Quick Commerce
The Indian food delivery market is expected to grow rapidly in the coming years. Experts estimate that this market will grow at a CAGR of 17 to 18 percent. Urbanization, increasing internet and smartphone usage, and people's online ordering habits will play a significant role in this growth. This will directly benefit companies like Swiggy.
The brokerage report specifically emphasizes Swiggy's Instamart business. Quick commerce is considered a crucial part of the company's strategy. Currently, this business lags behind Blinkit in terms of profitability, but the picture may change in the coming years. It is estimated that the number of dark stores of the company will increase from 697 to more than 1,000 by FY26. This expansion is expected to bring Instamart to profitability by FY28.
Benefits from Marketing Campaigns
The company's marketing campaigns are also showing results. Specifically, campaigns like MaxSaver are helping to increase average order value and product density. This is reducing losses in the company's quick commerce business, and the number of customers is continuously increasing.
Benefits of Inclusion in Global Index
Another major news is that Swiggy is being included in the MSCI Global Standard Index from August 26, 2025. Typically, a large amount of passive funds' money is attracted after being included in such an index. This means that the interest of foreign and institutional investors in the company will further increase. This is why investor confidence in Swiggy has further strengthened.
