Quick commerce company Swiggy has moved into a new office in Gurgaon. The announcement was made by Surendhar Kumar, the head of Administration and Procurement at Swiggy, via a LinkedIn post.
“Just moved! Check out our new office at DLF – One Horizon, Gurgaon!” said the post.
The company continues to maintain its headquarters in Bengaluru. The building houses a range of leading tech companies, startups and venture capital firms. They include Apple India, Samsung India, Uber India, Z47 (formerly Matrix Partners India), Elevation Capital, and Noise.
Swiggy’s main competitor, Zomato, previously operated its headquarters in the same building. However, the company vacated the premises in late 2018.
In 2015, Zomato had leased 1.2 lakh square feet of office space at One Horizon Centre for Rs 135 per square foot per month, using it as its headquarters. The company was paying over Rs 1.6 crore each month for the facility.
“The office space that Zomato rented was working out to be very expensive for them. So, they are relocating. The firm is also in talks with flexible office operators to move some operations there,” a source had told ET in 2018.
ET reported on Tuesday that several new-age companies, including Swiggy, are trading below their IPO prices. In the December quarter, the company reported a net loss of Rs 799 crore, affected by increased spending on quick commerce amidst intensifying competition in the sector.
Swiggy made its stock market debut last November, at a 5.6% premium to its IPO price of Rs 390. That made it the first company in the past decade with an issue size exceeding Rs 10,000 crore to list above its offer price.
