Swiggy

“As we have said even in the shareholders’ letter, we expect the investments will be range bound.”

“So, in the short term, as we've mentioned, we continue to iterate the investments, continue to be range bound, but we do expect growth.”

“We have a double-digit guidance for growth.”

“As you have seen, we have grown at a healthy pace of 13% plus in the previous quarter and our guidance for the current quarter is also to be able to deliver double-digit growth on a sequential basis.”

“And like I said, we are not looking at geographical expansion beyond where we are today, and we will continue to focus on the all the cities that we are present in”

“Wherever there is going to be growth and which is maxing out of capacity, we are adding stores.”

“We are not looking at changing anything around our network.”

“So we don't see the need to necessarily add a lot many more stores. And as growth continues, you will see that store expansion continuing.”

“So we want to maintain a similar trajectory, and we are not working backwards from a store count addition because it's not going to get us new distribution.”

“On the growth rate, if you see what we’ve called out in the letter, that in Sep-26 we were back on 20% plus growth just talking about Swiggy.”

“On the core business, both the top line growth of 18-20% as well as the steady state margin of 5% GOV margin stays protected without us having to go through any dilutive route in the near term.”

“I can't answer the specifics of the second part, but to the first part of your question, we would be closer to that lower end of that range that we talk.”

“On Toing, 2 out of 3 users that we're seeing are new to platform.”

“One thing we can call out is that we are seeing better retention metrics than the core app. Not only the retention metrics are better, but the frequency of even the dual appers is 25% higher than the singular app.”

“we do believe that the market can expand if the right proposition offering value to consumers while being sustainable can be cracked.”

“Our sense is that for Toing, the audience is far younger. And probably 70-80% of the users are sub 30 years of age”

“The fixed cost is very, very low in this business. It's all discretionary.”

“even to this quarter or in general, most of our spending is in new user acquisition and activation as opposed to any other loaded cost that traditional new business would have to take.”

“At the same time, you may have seen our monetization, it is at the highest ever with take rate exceeding 26%.”

“As you have seen, we've added close to INR50 crores on an absolute Adjusted EBITDA for the quarter and in a market where competition from all forms is only going higher.”

“Beyond that, I think we start making choices around reinvesting back for growth because I don't think the margin journey necessarily stops at 5%.”

“For us, the next step is actually going to build that more resilient business before just using cash because it exists in the bank to set up new flanks.”

“But I do think that it is very early to call this in, which is whether it has eased out or not. I think there are new players who have come in.”

“Actually, as of now, only Rapido is live to the general public and Flipkart has opened to the public at scale even in Bangalore yet.”

“Competition has begun, but we're able to respond pretty strongly both from the Swiggy asset platform as well as the Toing asset.”

“We see this as a growing market. There will be competition that is going to play, and there is a festive quarter which has intense competition, but we will be focused on our own strategy.”