Abhishek Agarwal, food and grocery delivery company Swiggy’s head of investor relations (IR) and a vice president (VP), has resigned from his position, people familiar with the development told ET.
The development comes a few months after the Bengaluru-based company raised Rs 10,000 crore in fresh capital in December 2025 through a qualified institutional placement (QIP), amid heightened competition in the quick commerce segment.
Agarwal, who joined the company in July 2023, played a key role in Swiggy’s Rs 11,327 crore initial public offering (IPO) in 2024. He was part of the filing process, including banker selection and negotiations, and post-IPO work, such as earnings calls and stock coverage.
Agarwal reported to Swiggy’s chief financial officer (CFO) Rahul Bothra during his tenure, and also worked closely with the founders and management team.
The company has not yet announced Agarwal’s replacement. Swiggy did not respond to ET’s queries by the time of publication.
Moneycontrol was the first to report this development.
For the third quarter of FY26, Swiggy reported a 54% increase in operating revenue to Rs 6,148 crore, while its net loss widened 33% to Rs 1,065 crore.
The quick commerce business, Instamart, continued to hinder profitability as its operating losses widened to Rs 908 crore, up 57% year on year.
On the other hand, Swiggy’s food delivery business recorded 20.5% growth in gross order value, exceeding its 18-20% guidance.
Currently, the food delivery and quick commerce sector is under pressure amid the West Asia war. LPG shortages are expected to impact the food delivery segment as multiple restaurants are shutting temporarily. Meanwhile, high input costs on plastic and paper are increasing packaging costs.
The development comes a few months after the Bengaluru-based company raised Rs 10,000 crore in fresh capital in December 2025 through a qualified institutional placement (QIP), amid heightened competition in the quick commerce segment.
Agarwal, who joined the company in July 2023, played a key role in Swiggy’s Rs 11,327 crore initial public offering (IPO) in 2024. He was part of the filing process, including banker selection and negotiations, and post-IPO work, such as earnings calls and stock coverage.
Agarwal reported to Swiggy’s chief financial officer (CFO) Rahul Bothra during his tenure, and also worked closely with the founders and management team.
The company has not yet announced Agarwal’s replacement. Swiggy did not respond to ET’s queries by the time of publication.
Moneycontrol was the first to report this development.
For the third quarter of FY26, Swiggy reported a 54% increase in operating revenue to Rs 6,148 crore, while its net loss widened 33% to Rs 1,065 crore.
The quick commerce business, Instamart, continued to hinder profitability as its operating losses widened to Rs 908 crore, up 57% year on year.
On the other hand, Swiggy’s food delivery business recorded 20.5% growth in gross order value, exceeding its 18-20% guidance.
Currently, the food delivery and quick commerce sector is under pressure amid the West Asia war. LPG shortages are expected to impact the food delivery segment as multiple restaurants are shutting temporarily. Meanwhile, high input costs on plastic and paper are increasing packaging costs.
