India • Digital commerce

Quick commerce company tracker

Compare Blinkit, Zepto, Swiggy Instamart and BigBasket across order growth, dark-store scale, customer value and capital efficiency.

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Data cut-off24 Jul 2026 CoverageFY26 • Q4 FY26 FrequencyQuarterly StatusCompany filings

Blinkit FY26 orders

916.6M +116.2% y/y

Zepto FY26 orders

640.2M +92.8% y/y

Instamart FY26 orders

412.2M +44.4% y/y

Blinkit dark stores

2,443 300+ cities • Jun 2026

Blinkit customer value

₹1,796 per MTU / month • Q1 FY27

Comparison basis

Measures selected for a like-for-like operating view

Period

FY26 Q4 FY26 Latest

Demand

Orders NOV / NRV

Efficiency

Per store Per customer

Currency / unit

₹ crore ₹ per user

Demand scale

FY26 platform orders

Million orders • YoY growth

Blinkit +116.2% y/y

916.6m

Zepto +92.8% y/y

640.2m

Instamart +44.4% y/y

412.2m

BigBasket does not publish a comparable FY26 order count. Platform order definitions differ slightly; use the ranking as a demand-scale proxy.

Latest refresh

What changed in the competitive picture?

Blinkit remains the scale leader and moved into positive adjusted EBITDA. Zepto is the closest challenger, with stronger store throughput but substantial cash burn. Instamart has similar store count to Zepto across twice as many cities, leaving its network materially less utilised.

Three-player FY26 order share 46.6% Blinkit • Zepto 32.5% • Instamart 20.9%

Latest Blinkit adjusted EBITDA +₹102 cr Q1 FY27 • fifth consecutive margin improvement

Research comparison only. Company quality and share-price value are separate questions.

Q4 FY26

Revenue per ending store

₹ crore per quarter

Zepto ₹19.86 cr FY26 / exit store

₹6.58 cr

Blinkit ₹16.84 cr FY26 / exit store

₹5.90 cr

Instamart ₹3.38 cr FY26 / exit store

₹0.92 cr

Revenue is not like-for-like: Blinkit and Zepto recognise merchandise sales, while Instamart mainly recognises commissions, advertising and fees.

Q4 FY26

Order value per ending store

NOV / NRV • ₹ crore per quarter

Zepto NRV / ending store

₹7.14 cr

Blinkit NOV / ending store

₹6.41 cr

Instamart NOV / ending store

₹4.97 cr

This is the cleaner store-productivity comparison. Zepto benefits from a concentrated 66-city footprint; Blinkit combines density with broader scale.

Customer economics

Order value per customer and average basket

Monthly metrics where companies disclose comparable transacting users

Company	Order value / customer	Orders / customer	Value / order	Definition
Blinkit	₹1,796 / month	3.47 / month	₹518	Q1 FY27 MTU
Instamart	₹1,422 / month	2.82 / month	₹504	Q4 FY26 MTU
Zepto	₹5,173 / year	13.35 / year	₹388	FY26 annual user
BigBasket	Not disclosed	Not disclosed	~₹650*	Management AOV

Blinkit Q1 FY27 is the latest customer observation. Zepto reports annual transacting users rather than average monthly users, so its ₹5,173 figure is annual and not directly comparable. BigBasket does not disclose an active-customer denominator.

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