Swiggy Instamart Appoints New SVP Ankit Jain
Swiggy Instamart is making headlines with the appointment of Ankit Jain as its new Senior Vice President. Ankit Jain, who previously held the position of Senior Vice President at Flipkart, is set to replace Sairam Krishnamurthy. Krishnamurthy has served as the SVP and COO of Instamart since August 2024.
As reported by Moneycontrol, this strategic shift is part of a larger pattern of executive departures at Flipkart. The company is aiming to curb its monthly cash burn from $40 million to $20 million in anticipation of a possible public listing.
In his new role, Jain will be collaborating closely with Amitesh Jha, CEO of Swiggy Instamart, who also transitioned from Flipkart in August 2024. This move is seen as a part of Swiggy’s efforts to strengthen its leadership team.
In addition to Jain, Swiggy has brought on several high-profile executives from Flipkart, including Shalabh Shrivastava as the Senior Vice President of Driver Org and Hari Kumar G. as the Senior Vice President and Chief Business Officer for Swiggy Instamart.
Expansion and Growth of Swiggy Instamart
Swiggy Instamart has significantly expanded its network, adding 316 dark stores in the period between January and March 2025. This brings its total to 1,021 stores, intensifying competition with Blinkit, Zepto, and Flipkart Minutes within the quick commerce sector.
Remarkably, Instamart reported substantial growth during Q4 FY25, with its revenue soaring by 115%, climbing to Rs 689 crore from Rs 320 crore in Q4 FY24. Overall, Swiggy reported a revenue of Rs 4,410 crore, although it also recorded a loss of Rs 1,081 crore in the fourth quarter of the previous fiscal year (FY25).
