After Students, Swiggy Targets Professionals With Corporate Rewards Programme

Days after launching a new initiative to woo students, listed foodtech major Swiggy has launched a corporate rewards programme to further bolster its food delivery vertical.

In a post on LinkedIn, Swiggy’s food marketplace division CEO Rohit Kapoor said that the new programme will offer a slew of benefits to corporate employees, including reduced Swiggy One membership prices and discounts on orders. 

“… I’m genuinely excited about Swiggy’s new Corporate Rewards program. A simple email verification unlocks a treasure chest of benefits. From a Swiggy One membership that gives you unlimited free deliveries for an entire quarter to getting at least 125 rupees off just for using your work email,” said Kapoor. 

An image attached with the post read that corporate employees will get “minimum INR 125 off on food orders”, Swiggy One membership at “INR 30”(with “free” deliveries for 3+1 months), “flat INR 1,000 on top of pre-book offers”, among others. 

Users will be able to avail the offering after verifying their corporate email addresses. 

In his post, Kapoor pitched the new offering to freshers as well as “senior managers planning team lunches”.

This comes days after Swiggy said it was piloting a student rewards programme across 2,000 campuses in more than 200 cities across India. It said that it planned to expand the initiative to more than 4,500 colleges across the country by July 2025. 

Swiggy Looks To Increase Food Delivery Revenue 

The new offerings are a part of the company’s broader strategy to spur membership numbers, increase the stickiness of its food delivery platform and bolster its revenue. 

Recently, Swiggy and its rival Zomato shelved the rain fee waiver for their membership programmes. 

Meanwhile, as part of its efforts to streamline operations and curb losses, the Sriharsha Majety-led company, earlier this month, gave exclusive licences for its digital-first food brands, including The Bowl Company (TBC), Homely, Soul Rasa, and Istah, to Bengaluru-based Kouzina Food Tech. This followed Swiggy delisting these brands due to operational challenges.

The new launches and changes are a result of the slowdown in the broader food delivery ecosystem. This has impacted both Zomato and Swiggy.

Swiggy saw its adjusted revenue from the food delivery grow 18% YoY but just 0.5% sequentially to INR 1,629.3 Cr in Q4 FY25. Meanwhile, Zomato’s adjusted revenue, too, rose 17% YoY to INR 2,409 Cr in Q4 FY25, while falling a mere 0.1% sequentially.

Notably, brokerage BofA Securities last month downgraded the ratings of both foodtech giants citing expected slowdown in the food delivery vertical.

Notably, following the Q4 results, Swiggy cofounder Majety said that sustained growth in the “relatively mature” ecosystem going forward would be led by innovation in bringing new consumers into the ecosystem. By first targeting students and now corporates, Swiggy seems to be doing that. 

Caught In The Quick Commerce Wars

The high competition in the quick commerce arena has further exacerbated Swiggy’s problems. 

While the company has been aggressively expanding the dark store network of Swiggy Instamart, it has taken a toll on its bottom line. 

The quick commerce vertical’s adjusted EBITDA loss zoomed 45.3% QoQ to INR 840 Cr in Q4 FY25. This was primarily driven by Swiggy deploying INR 425 Cr and adding 316 new dark stores in Q4 alone, more than the previous eight quarters put together. 

As a result, Swiggy’s consolidated net loss skyrocketed 95% YoY to INR 1,081.18 Cr in Q4 FY25. 

Because of this, shares of Swiggy have been on a downward spiral. The company’s shares touched an all-time low of INR 297 during the intraday trading last week. On a year-to-date (YTD) basis, the stock is down more than 40% on the BSE. 

Shares of Swiggy ended yesterday’s trading session 0.76% higher at INR 323.60 on the BSE.