Instamart, Swiggy's quick commerce business, saw growth slow in Q4FY26. Instamart's gross order value (GOV) declined from ₹7,938 crore in Q3FY26 to ₹7,881 crore in Q4FY26 (sequentially), while rising 69% year-on-year from ₹4,670 crore in Q4FY25. Swiggy Co-founder Sriharsha Majety said the decline was due to the increasing competitive intensity and the choices the company is making.