V-Mart adds 15 stores in Q1, taking total to 510 as it deepens presence in small-town India

V-Mart Retail opened 15 new stores during the first quarter of FY26, expanding its footprint to 510 outlets across the country, according to the company’s investor presentation on Thursday. The growth reflects a continued push into India’s Tier 3 and Tier 4 towns, where the company sees long-term demand for value fashion and general merchandise.

Of the total stores, Uttar Pradesh leads with 158 outlets, followed by Bihar with 72 and Tamil Nadu with 33. New additions during the quarter included stores in Varanasi and Jhansi in Uttar Pradesh, Surat in Gujarat, and Ichalkaranji in Tamil Nadu.

V-Mart now operates 421 stores under the V-Mart brand and 89 under the ‘Unlimited’ banner, acquired from Arvind Fashions. Most of the recent expansion targets underserved markets where organised retail is still nascent.


The company also closed two stores during the quarter—one each under the V-Mart and Unlimited formats.
V-Mart’s total retail space rose to 4.4 million sq ft, up from 3.9 million sq ft a year earlier. Store productivity also improved, with average monthly sales per square foot rising 1% year-on-year to ₹745.

The expansion came alongside stronger financial performance: the company posted 13% year-on-year revenue growth and a 177% jump in profit after tax for the quarter.

Net profit stood at ₹33.6 crore, up from ₹12.1 crore in the same quarter last year.

Revenue rose 13% year-on-year to ₹885.2 crore, compared to ₹786.1 crore a year ago.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 27% to ₹126.2 crore, from ₹99 crore in the year-ago period.

The EBITDA margin improved to 14.3%, up from 12.6% in the corresponding quarter of the previous year.
Shares of V-Mart Retail Ltd ended the day at ₹815, up ₹51.15 or 6.7%.