Swiggy Shares Rise 5% After Company Targets ₹10,000 Crore Core Earnings By FY31

Shares of Swiggy climbed over 5% on Thursday after the food delivery and quick commerce company unveiled its long-term growth targets, including achieving core earnings of ₹10,000 crore by financial year 2031.

The stock rose 5.2% to an intraday high of ₹305 per share on the NSE before easing due to profit booking. However, the stock shed most of the gains later to trade over 1%.

Swiggy Sets Aggressive FY31 Growth Targets

In an exchange filing, Swiggy said its earnings growth will be driven by expansion in its food delivery business and quick commerce platform Instamart.

The company expects Instamart’s gross order value (GOV) to increase four to five times to ₹1.5 lakh crore by FY31 from ₹28,000 crore in FY26. Overall, Swiggy is targeting consolidated GOV of ₹2.5 lakh crore by FY31, compared with ₹67,734 crore in FY26.

The company also expects earnings per share (EPS) to improve significantly, rising from a negative ₹16 in FY26 to ₹30-33 by FY31. Swiggy said it currently has a cash balance of ₹14,400 crore and remains debt-free.

Swiggy Managing Director and Group CEO Sriharsha Majety said the company operates across three major consumer segments — food delivery, quick commerce and out-of-home consumption — each offering significant growth opportunities.

AI Push, Ownership Plans And Quick Commerce Expansion

Swiggy highlighted its focus on becoming an AI-driven organisation, using technology across five key areas: demand, fulfilment, partners, monetisation and business building.

The company said it is deploying AI tools for personalised customer experiences, improving delivery networks and enhancing internal decision-making. It is also using proprietary data and engineering capabilities developed over the past decade to create competitive advantages.

Swiggy also announced progress towards becoming an Investor-Owned Commerce Company (IOCC). Domestic ownership crossed 50% on July 1, 2026, while the board approved raising the foreign shareholding limit to 49.5%. The proposal will be placed before shareholders at the company’s annual general meeting on August 18.

The move is expected to support Instamart’s transition to a first-party inventory model within two to four quarters after approval.

Swiggy and rival Blinkit are investing heavily in India’s quick commerce sector, expanding dark stores and fulfilment centres to meet rising consumer demand and reduce delivery times.