Will Swiggy and Zomato be able to crack the profitability code as the market continues to expand? Or will their rapid expansion serve cold returns to investors?

Swiggy’s share price had a robust debut on the NSE, opening at Rs 420 per share—up 7.69% from its issue price of Rs 390. In comparison, Zomato’s share price has surged by 122.37% over the past year, outperforming its sector by 81.

Zomato, a leading player in this arena, projects a robust 30% annual growth rate for its core food delivery business over the next five years.

Zomato continued to reign supreme in the food delivery segment with a 58% market share in Q1 FY25, with Swiggy trailing behind at 42%.

Zomato may be ahead in the food delivery and quick commerce race, but its high valuation could give Swiggy the perfect chance to steal the spotlight and outshine with its stock performance.