Swiggy has emerged as one of India's leading hyperlocal delivery platforms, demonstrating a robust presence in both Food Delivery and Quick Commerce (Q-com), says the initiating coverage report by Nuvama Institutional Equities. Following a period marked by strategic errors, the company appears positioned for recovery, with Food Delivery now outpacing Zomato in growth and contributing to market share stability as well as a margin uptick. Advertisement

Nuvama highlights that Swiggy’s Food Delivery business is now the primary driver of value, attributing this to Swiggy's superior operational scale and profitability. "In our SotP framework, we assign the bulk of value to the Food Delivery business given its superior scale and profitability profile."

Despite its early lead, Swiggy experience

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