Sriharsha Majety

About

A gem of an idea that lay dormant and went on to become a household name: that’s how Sriharsha Majety describes the conception of Swiggy, the company he co-founded with Nandan Reddy and Rahul Jaimini. At the NSE bell-ringing ceremony last November, Majety recalled that Swiggy had its genesis in one of his projects at IIM Calcutta; it morphed from courier aggregation to logistics and finally, food delivery. “I completely forgot about it after that college project finished. And then you know, we (collegemates) went different ways before coming to the same idea without realising it,” the former investment banker had said at the event. No surprise that Swiggy was off to a stellar debut on the bourses. Majety does not shy away from crediting the gig workers for Swiggy’s success story. “We are immensely proud that we have been able to expand the delivery partner base by 32% over the last year to 540,000; and have helped them earn with flexibility, dignity, and hope,” read his latest letter to the shareholders. Notably, two delivery partners from Bengaluru also joined the 11-year-old startup’s leadership team at the NSE event. For Majety, “growth is about learning and evolving with the different variables and moving parts.” That reflects in Swiggy’s evolution, too. In FY25, the food tech pioneer saw a slew of quick commerce service launches, including Snacc and Bolt. It also launched Pyng, a professional services marketplace, this April. These are in addition to its grocery delivery arm, Instamart, which forms two-thirds of its business value. Swiggy’s B2C gross order value grew 33% year-on-year to ₹46,549 crore in FY25, buoyed by the consistent performance of its food delivery and out-of-home segments.