V-Mart Retail Limited has informed the Exchange regarding 'Business Update at the end of Quarter 3 of Financial Year 2025-26 (Q3FY26)'.
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V-Mart Retail reported Q3 FY26 revenue from operations of Rs. 1,126 Crores, up 10% year-on-year from Rs. 1,027 Crores in Q3 FY25. However, same-store sales growth (SSSG) was flat, with V-Mart at 0% and Unlimited at +2%, partly because the Durga Puja festive period shifted to Q2 this year. On a combined Q2+Q3 basis, which removes the festive timing distortion, SSSG was +5% and total revenue growth was +15%. The company added 23 new stores during the quarter (2 closures), bringing its year-to-date net additions to 57 and total store count to 554 across multiple states. Revenue figures are provisional and pending statutory audit review.
Headline revenue growth looks healthy at 10%, but the flat same-store sales indicate that growth is being driven almost entirely by new store expansion rather than improved performance at existing locations. This is a mixed signal — expansion-led growth is positive, but weak underlying demand at mature stores could concern investors looking at productivity metrics.