Swiggy Instamart expands operations to 76 cities nationally and announces a standalone app while maintaining presence on the unified Swiggy platform
The quick commerce service currently offers 10-minute deliveries with nearly 50,000 products, with Q2 FY25 revenue surging 135.7% YoY to INR 490 Cr
According to Swiggy’s CEO, Instamart is set to surpass the company’s food delivery business in both scale and penetration, targeting over 100 Mn users
Foodtech major Swiggy
has announced the expansion of its quick commerce vertical Instamart to 76 cities across India, and the platform will soon also be available as a standalone app.
As one of Swiggy’s flagship services, Instamart will continue to be accessible via its unified platform, the company said in a statement.
Swiggy Instamart was launched in August 2020, during the COVID-19 pandemic. It was conceived as an extension of Swiggy’s food delivery. The service initially promised delivery within 30-45 minutes.
The standalone Instamart app aims to provide users with direct access to Swiggy’s quick commerce offering, building on the success of its Android PlayStore shortcut.
The move follows Swiggy’s recent launches, including SNACC for 15-minute food delivery and Pyng for professional services.
Sriharsha Majety, MD & Group CEO at Swiggy, said, “While it’s been clear for a while now that Swiggy Instamart is set to match Food delivery in size, recent developments show it’s on track to surpass Food delivery in both penetration and scale. The positive reception in new cities and categories suggests Instamart could achieve far greater user adoption, going well beyond 100 Mn users.”
Previously, Swiggy experimented with standalone apps, including Dineout for restaurant reservations and InsanelyGood. All Swiggy One, One Lite, and One BLCK benefits will be applicable across both the unified and standalone Instamart apps.
Amitesh Jha, CEO of Swiggy Instamart, said “Swiggy Instamart is on a rapid growth trajectory, offering a compelling value proposition with 10-minute deliveries and an expanding range of nearly 50,000 products.”
The development comes as Bernstein initiated coverage on Swiggy with an ‘outperform’ rating and a target price of INR 635.
The quick commerce vertical has shown strong momentum, with Instamart’s operating revenue surging 135.7% YoY to INR 490 Cr in the quarter ended September 2024 (Q2 FY25) from INR 208 Cr in the year-ago period.
