India’s Swiggy rises after Citi raises target price

Swiggy

09/10/2025 06:41

Corrects to add the dropped company ticker symbol in the last bullet

** Food delivery firm Swiggy's SWIG.NS stock rises 2% to 429.3 rupees

** Citi keeps "buy", lifts PT to 495 rupees from 465 rupees

** Expects Q2 food delivery revenue growth of 21% Y/Y, gross order value to rise 19%; contribution margin at 7.6% vs Q1's 7.3%, adjusted EBITDA margin at 2.8% vs 2.4%

** Quick commerce segment gross order value to grow 23% Q/Q; revenue up 26% Q/Q

** Forecasts overall revenue growth of ~64% Y/Y; adjusted EBITDA loss at 7.6 bln rupees ($85.61 million) from Q1's 8.1 bln

** Avg rating of 25 analysts is "buy"; median PT 450 rupees - per LSEG data

** YTD, Swiggy down 20.6% vs rival Eternal's ETEA.NS 24.6% decline

($1 = 88.7750 Indian rupees)

 (Reporting by Rudra Pratap Singh in Bengaluru)

 ((rudrapratap.singh@thomsonreuters.com))