Swiggy's 10-Minute 'Bolt' Delivery: A Game-Changer in Quick Eats

Swiggy's 'Bolt,' a 10-minute food delivery service, has driven substantial growth in food services, accounting for 10% of its deliveries. CEO Rohit Kapoor indicates Bolt's profitability and frequency benefits while maintaining it won't majorly impact cash flow. The service expands in 700 Indian cities.

Swiggy's innovative 10-minute delivery service 'Bolt' is revolutionizing the convenience food sector, as it now accounts for 10% of the company's deliveries. In remarks on Thursday, Rohit Kapoor, CEO of Swiggy Food Marketplace, emphasized Bolt's role in the company's growth strategy across more than 700 Indian cities.

The demand for quick-consumption meals at specific times has spurred Bolt's popularity, Kapoor explained at the launch of 'How India Eats,' a report by Swiggy and Kearney. Despite concerns about increased cash burn, Kapoor assured that Bolt positively influences the company's profitability and frequency of orders.

While Kapoor did not specify Bolt's growth outlook, he confirmed Swiggy's overall goal of an 18-20% annual growth in gross order value. As for adjustments needed following new labor codes, Kapoor stated they are monitoring developments to remain prepared for future legislative impacts on business operations.

(With inputs from agencies.)