Results · Commerce & Consumer Brands

Instamart loses market share as rivals grow faster

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Instamart's order share among top three quick-commerce players fell from 34.3% in FY24 to 20.9% in FY26

Its FY26 revenue was Rs 3,859 crore with an adjusted EBITDA loss of Rs 3,511 crore

Blinkit and Zepto both grew orders and market share faster over the same period

Instamart's share of orders among the top three quick-commerce players dropped from 34.3% in FY24 to 20.9% in FY26.
In FY24, Instamart processed 175.5 million orders, which grew to 270.2 million in FY25 and 412.2 million in FY26.
Blinkit's orders rose from 203 million in FY24 to 916.6 million in FY26, and its market share increased from 39.7% to the lead position.
Zepto's orders grew from 132.9 million in FY24 to 640.2 million in FY26, with its share rising from 26% to 30.9% in FY25.
Instamart's FY26 revenue was Rs 3,859 crore, and its adjusted EBITDA loss was Rs 3,511 crore.
Blinkit's FY26 revenue was Rs 37,779 crore with an adjusted EBITDA loss of Rs 277 crore.
Zepto's FY26 revenue was Rs 22,624 crore with an adjusted EBITDA loss of Rs 5,042 crore.
Revenue figures are not directly comparable due to different business and accounting models at Swiggy, Instamart's parent.

Zepto shared these figures in its updated draft red herring prospectus (UDRHP) ahead of its planned stock market listing.
All three players are investing heavily in dark stores, logistics, and customer acquisition.
Instamart's market share decline highlights intense competition in the quick-commerce space.