India's top three food delivery players, Swiggy, magicpin, and Zomato, regained growth momentum in the October-December period after a period of slower expansion, on strong order volumes led by festive demand, affordability-focused offerings and expanding user bases.
With continued investments in marketing, product innovation, and value-led propositions, industry executives said the sector expects the momentum in order growth to sustain in the coming quarters.
"It has been a phenomenal October-November-December quarter for us, marked by strong growth and sharper execution across markets. Our unit economics at an order level have improved by over 60%, reflecting greater efficiency and improved monetisation," magicpin Founder and CEO Anshoo Sharma told PTI.
While mature markets such as Delhi-NCR remained steady, the company reported more than 40% growth in gross order value in cities, including Bengaluru, Hyderabad, and Mumbai.
The magicpin CEO said affordability-led consumption is a key growth driver, with an average order value of Rs 150-Rs 300 encouraging frequent ordering among users.
According to Swiggy's Q3 FY26 shareholder letter, the company's gross order value (GOV) grew 20.5% year-on-year to Rs 8,959 crore, marking the fastest growth in the last three years.
Swiggy said the acceleration was driven by stronger adoption of new propositions across speed, selection and affordability. Its average monthly transacting user (MTU) base grew 22% year-on-year to 24.3 million during the quarter from 17.8 million a year ago, while total orders rose to 294 million from 234 million during the period.
Zomato's food delivery business also reported improving growth trends during the quarter under review.
The company posted 16.6% year-on-year net order value (NOV) growth at Rs 9,846 crore in the December quarter translating into 21.3% growth in GOV.
This marked an acceleration from 13.8% growth in the September quarter.
Its average monthly transacting users grew 21% year-on-year to 24.9 million during the December quarter.
Executives also said the growth was increasingly coming from smaller cities as affordability-led offerings resonated strongly with consumers in Tier-II and III markets.
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