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ICICI Securities Report
We hosted Mr. Rahul Bothra, Chief Financial Officer, Swiggy, on an investor call that received overwhelming participation from marquee global and domestic fund houses. Key takeaways:
robust medium-term growth expectation for the industry (30-40% compound annual growth rate) in steady state;
sustainability of current take rates; and
impressive progress on diversification into adjacencies (currently accounting for ~25% of revenues, expected to be ~50% in three to four years).
In the near term, Swiggy intends to focus on furthering its market leadership in top metros, which would contribute more to its growth.
Nevertheless, over the longer term, the company believes Next-500 towns will be key growth drivers.
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