Avenue Supermarts DMart , the parent company of DMart retail chain, has announced the opening of a new store in Nagpur, Maharashtra, further expanding its presence in the country's retail landscape.

New Store Details

The company has inaugurated its latest outlet on Umred Road in Nagpur, as communicated by Ashu Gupta, the Company Secretary and Compliance Officer, to the stock exchanges. This strategic expansion brings Avenue Supermarts' total store count to 428 locations across India.

Expansion Strategy

The opening of the new store in Nagpur underscores Avenue Supermarts' continued focus on expanding its retail footprint. By choosing Umred Road, a developing area in Nagpur, the company demonstrates its strategy of tapping into growing urban markets.

Market Communication

In line with regulatory requirements, Avenue Supermarts promptly informed the BSE Limited and the National Stock Exchange of India Ltd. about this development. The company's commitment to transparency is evident in its timely disclosure to shareholders and the market at large.

Company Overview

Avenue Supermarts, trading under the ticker DMART, is renowned for its DMart chain of hypermarkets. The company has built a strong reputation for offering a wide range of products at competitive prices, catering to the diverse needs of Indian consumers.

This latest store opening reaffirms Avenue Supermarts' position as a key player in India's organized retail sector. As the company continues to expand its presence, investors and consumers alike will be watching closely to see how this growth strategy impacts its market share and financial performance in the coming quarters.

Avenue Supermarts DMart , the operator of DMart retail stores, has reported a 16.7% growth in standalone sales, with revenue from operations reaching INR57,790.00 crores. The company also announced plans for accelerated store expansion, particularly focusing on North India, including entry into the Uttar Pradesh market.

Financial Performance

DMart achieved an EBITDA margin of 7.9%. The company recorded 35.30 crore bill cuts, with like-for-like growth of 8.4% for stores aged 24 months and above. The profit after tax (PAT) stood at INR2,927.00 crores, including a tax gain.

Store Expansion

The company opened 50 new stores in the last fiscal year, adding approximately 2 million square feet of retail space. DMart's management expressed a strong commitment to accelerating store expansion, with a particular focus on North India. The company sees significant potential in the region, especially in Uttar Pradesh.

Neville Noronha, the outgoing Managing Director and CEO, stated, "We believe that we have an immense potential to grow in the country across population strata. We remain very, very bullish on the offline space and also see a lot of opportunities in the online space."

Management Transition

DMart announced a leadership transition, with Anshul Asawa designated as the incoming CEO. Noronha will continue as Managing Director until January 2026, focusing on accelerating store expansion, particularly in North India.

E-commerce Performance

DMart Ready, the company's e-commerce business, grew by 21% despite transitioning from a pickup plus home delivery model to a focused home delivery approach. The company is now present in 24 cities with its online operations.

Future Outlook

DMart maintains its value retail positioning while competing with quick commerce platforms. The company emphasizes that brick-and-mortar expansion remains a key strategy to counter online competition.

Anshul Asawa, the CEO-designate, commented on the company's future direction: "There are some very clear, strong fundamentals of a value retailer that DMart has pioneered in India. These don't need to change. We'll focus on accelerating growth while maintaining our core principles around assortment, low-cost operations, and customer focus."

DMart's management expressed confidence in the company's ability to compete effectively in both offline and online channels, leveraging its strong value proposition and expanding store network.