Instamart trails Blinkit by 3x as losses widen
By Abha Lohia ·
Swiggy: revenue, valuation and funding and every story →
- Swiggy runs Instamart, its quick-commerce arm, which grew order value 34.8% to ₹6,594 crore in the September quarter
- Its adjusted EBITDA loss widened to ₹895 crore, while rival Blinkit earned ₹184 crore and runs 2,751 dark stores to Instamart's 1,240
- Swiggy also plans to shift Instamart to an inventory-owning model within about three quarters
What happened
- Instamart order value rose 34.8% to ₹6,594 crore.
- Orders reached 130 million, up 29.3%.
- Monthly users rose 23% to 14.8 million.
- Adjusted EBITDA loss widened to ₹895 crore.
Why it matters
- Blinkit added 308 net stores against 69 at Instamart.
- Improving the economics of each order is now the main task.
The business
- Swiggy delivers food and groceries through its app.
- Instamart is its quick-commerce business.
The founders
In numbers
₹895 croreInstamart adjusted EBITDA loss · Q2 FY27
1,240Instamart dark stores · Q2 FY27
What happens next
- Move Instamart to an inventory model within three quarters
Up against
Blinkit
Other articles talking about it
Terms in this story
- EBITDA: EBITDA is a company's operating earnings before interest, tax, depreciation and amortisation. It is a useful shortcut for how the core business performs, but it is not the same as profit, and adjusted EBITDA can hide real costs.
- Quick commerce: Quick commerce delivers groceries and everyday items to your door in minutes, usually from a small nearby warehouse called a dark store. The model works only when enough orders come from a small area, because speed is expensive.
Everything on Swiggy → · All startup news on 22 October 2026 →
Is this Swiggy? Get your “Featured on StopDown” badge →