Whalesbook
Dekho, yeh jo quick commerce waali companies hain na, yeh ekdum mast race mein hain delivery time ko kam karne ke liye. Iske liye dark stores ka network badhana bohot zaroori hai.
Swiggy toh apna paisa, jismein IPO se aane waale funds bhi shamil hain, Instamart dark store badhane mein laga rahi hai. March 2026 tak, Swiggy ke 1,143 dark stores the 129 cities mein. Poora area 4.8 million square feet se zyada ho gaya hai, jo 21.1% saal-dar-saal zyada hai.
Idhar Blinkit ne bhi apne ek QIP se aaye paise ko dark store aur warehouse development mein laga diya hai. Inka target toh aur bhi ambitious hai - 3,000 dark stores kholne ka! Matlab market share pakadne ka full plan hai.
Par ab aata hai asli twist. JM Financial jaise brokerage firms Swiggy ke Instamart ke profit ko lekar kaafi worried hain. Unka kehna hai ki store mein order growth abhi bhi slow hai, network expand hone ke baad bhi.
Instamart ka net order value (NOV) thoda badha hai, q-o-q 3.7% aur y-o-y 60.2% badhkar ₹5,670 crore ho gaya. Lekin, gross order value (GOV) Q4 FY26 mein 68.8% badha, jo Blinkit ke 95.4% surge se kaafi kam hai.
JM Financial toh seedha bol rahe hain ki 'Hum Instamart, supply chain aur platform innovation ko zero value de rahe hain, kyunki koi clear picture nahi hai ki kab turnaround hoga aur prolonged value destruction ka chance zyada hai.'
Iska matlab, yeh dark store expansion wali strategy paisa banane ki jagah nuksaan bhi kar sakti hai. Dark stores, jo fast fulfillment ke liye mini-warehouses hain, quick commerce ka core hain. Par profitable unit economics banana sabke liye ek bada challenge bana hua hai.