Swiggy has appointed Gautam Swaroop as the new Chief Business Officer (CBO) of Instamart, its quick commerce business. The appointment comes at a time when the company is making several leadership changes and strengthening its strategy to compete with Blinkit, Zepto, Amazon Now, and Flipkart Minutes in India’s fast-growing 10-minute delivery market.
The latest move is part of Swiggy’s wider plan to improve Instamart’s operations, grow its business, and move closer to profitability while facing intense competition in the quick commerce sector.
Swiggy Makes Major Leadership Changes at Instamart
Gautam Swaroop joins Instamart after leading OYO’s international business as its CEO. During his time there, he helped improve the business and make it profitable. At Instamart, he will manage commercial operations, category management, and brand partnerships.
His appointment comes after the resignation of former Chief Business Officer Hari Kumar. Earlier, Chief Operating Officer Ankit Jain also left the company. Both executives had joined Instamart from Flipkart and were brought in by Instamart CEO Amitesh Jha.
Swiggy has also appointed Sairam Krishnamurthy as Senior Vice President and Chief Operating Officer. He will look after dark store operations and infrastructure. The company has also hired Srikar Adavi as Vice President for Ad Monetisation and Hardeep Kaur as Associate Vice President for the FMCG category.
Leadership changes have also taken place at the company level. Co-founder Lakshmi Nandan Reddy Obul stepped down from his active role as Whole-Time Director and Head of Innovation to pursue other interests. After his exit, Chief Growth Officer Phani Kishan Addepalli and Group Chief Financial Officer Rahul Bothra joined Swiggy’s board as additional directors.
Swiggy has also made changes to its investor board by appointing a new nominee director from Prosus and updating some of its investor nomination rights.
Strong Revenue Growth but Losses Continue
Swiggy continues to report strong business growth. In FY26, the company’s revenue from operations reached ₹23,053 crore, growing by more than 51% compared to the previous year. In the first quarter of FY26, revenue stood at ₹4,961 crore.
However, the company is still making losses because it is spending heavily on expanding Instamart. Swiggy reported a net loss of ₹4,154 crore in FY26, compared to ₹3,117 crore in FY25. In the first quarter of FY26 alone, the company posted a loss of ₹1,197 crore.
Most of these losses are linked to the quick commerce business, where companies are investing heavily in dark stores, faster deliveries, and customer offers to stay competitive.
To improve its financial performance, Swiggy has increased its platform fee on customer orders. The company is also encouraging customers to buy more items in a single order and is expanding into higher-margin categories like electronics, fashion, beauty, and personal care. These products now contribute a much bigger share of Instamart’s overall sales than before.
Swiggy believes these efforts will help Instamart move towards contribution break-even in the coming quarters, bringing the company closer to overall profitability.
Swiggy Focuses on Long-Term Growth
Along with leadership changes, Swiggy has taken several important business decisions to strengthen its future.
One of the biggest moves was selling its entire 12% stake in bike taxi company Rapido for ₹2,399 crore. The sale increased Swiggy’s cash reserves and also removed a possible conflict of interest after Rapido entered the food delivery business through its Ownly platform.
Swiggy has also announced plans to move Instamart into a wholly-owned step-down subsidiary. This restructuring is expected to improve operational efficiency, support future fundraising, and give the quick commerce business more flexibility.
At the same time, Swiggy’s food delivery business continues to perform well and remains one of the company’s strongest businesses.
The company has also changed its approach to fast food delivery. It shut down its standalone 10-minute food delivery app Snacc after finding the business difficult to scale. Instead, Swiggy is now focusing on Bolt, which delivers food within 10 minutes by working with nearby restaurant partners. Bolt is now available in more than 500 cities and contributes a growing share of Swiggy’s food delivery orders.
With new leadership, business restructuring, and a stronger focus on improving operations, Swiggy is preparing for the next stage of growth. Although the company is still facing pressure on profits, its latest moves show that it is working to build a stronger and more sustainable quick commerce business while staying competitive in one of India’s fastest-growing markets.