V2 Retail sales jump 58% as store count hits 381
The value fashion retailer added 57 outlets in Q1, taking total store network to 381. But the strong revenue print was widely anticipated after earlier guidance.
— 2 earlier stories on V2 Retail Ltd. →What's new
- Revenue climbed 58% YoY to ₹997 crore, beating the ₹797 crore reported in the March quarter.
- Same-store sales grew 7.5%, while monthly per-square-foot revenue reached ₹886.
- Store count rose to 381 after 57 new outlets, mostly in tier-2 and tier-3 cities.
Why this matters
V2 Retail continues to deliver on its aggressive expansion plan, but the market already knew the trajectory from prior guidance. The 58% growth on an elevated base is strong, but the 7.5% same-store sales growth suggests that new stores, not mature ones, are doing the heavy lifting.
What we're watching
- Audited numbers due later. Operating margin trends will matter more than top-line growth.
- Whether same-store sales can accelerate once the new outlets mature.
- Store addition pace in the coming quarters. The target of 170-200 for FY27 implies more openings ahead.
The full read
V2 Retail's June quarter revenue of ₹997 crore is a 58% jump from a year ago, extending a run that already saw 63% growth in FY26. The numbers were guided. The company added 57 new stores, taking its network to 381 outlets and reinforcing its bet on non-metro India. Same-store sales of 7.5% show the existing fleet is growing but not as fast as the top line. New stores are driving the number. The market had already priced this in after earlier guidance of 170-200 openings for FY27, so the filing itself is routine. What changes from here: whether operating margins hold as these younger stores ramp up.
Questions answered
- Why is this filing considered routine if revenue grew 58%?
- The company had already guided for aggressive store expansion in earlier quarters, so the strong revenue was widely expected. The filing is a standard compliance update under Regulation 30, with little incremental price-moving information.
- How does the ₹997 crore compare to the previous quarter?
- The March 2026 quarter reported sales of ₹797 crore, so the June quarter's ₹997 crore represents a 25% sequential increase.
- What was the same-store sales growth and why does it matter?
- Same-store sales grew 7.5% year-on-year. This metric strips out new stores and indicates how well existing outlets are performing. A 7.5% rise is decent but slower than the overall revenue jump, meaning new stores are the primary growth driver.
- Are these revenue figures final?
- No. The ₹997 crore is unaudited standalone revenue, subject to limited review by auditors. Final audited numbers will be released later.
- How many stores does V2 Retail have now and in what markets?
- The company operates 381 stores across a retail footprint of 4.07 million square feet, with a focus on tier-2 and tier-3 cities. It added 57 stores in the June quarter alone.
V2 Retail Ltd.
Latest quarter · Mar 2026
Strength & growth
Story so far
All notes on V2RETAIL →- 1 Jul 2026 · 4:45 PM IST V2 Retail sales jump 58% as store count hits 381
- 34d ago V2 Retail puts 170-200 stores on the map for FY27
- 38d ago V2 Retail's new stores take a year longer to mature