V2 Retail Q2 FY27 Revenue surges 28.4% to ₹905 Cr; expands network
V2 Retail reported a 28.4% year-on-year revenue growth for Q2 FY27, reaching ₹905 crore. The company opened 49 new stores, expanding its footprint to 427 stores across 46.28 lakh sq. ft. India Ratings upgraded the company's long-term rating. V2Kart e-commerce was soft-launched in September 2026.
The revenue growth, network expansion, rating upgrade, and e-commerce launch are positive developments that could influence investor perception and future performance, but the SSSG was flat on a normalized basis, tempering the immediate impact.
The company reported significant year-on-year revenue growth and highlighted network expansion, alongside a rating upgrade and e-commerce launch, indicating positive business momentum.
V2 Retail Limited has reported a strong performance for the second quarter of FY27, with standalone revenue reaching ₹905 crore, a significant 28.4% increase year-on-year compared to ₹705 crore in Q2 FY26. This growth was primarily driven by the company's continued store network expansion.
Despite the positive revenue growth, Same Store Sales Growth (SSSG) was 0.5% on a festival-normalized basis. On a calendar basis, SSSG was -14.9%. This discrepancy is attributed to the shift of the Navratri and Durga Puja festival period from Q2 FY26 into Q3 FY27, impacting the comparable period. The company emphasized that looking beyond seasonal distortions reveals underlying performance stability.
Monthly Sales per Square Foot (PSF) stood at ₹700 in Q2 FY27. The company highlighted that a larger portion of its network is still in the ramp-up phase, with 106 out of 427 stores opened in the first half of FY27. This natural ramp-up cycle, combined with the timing of the festive season, influences store productivity metrics.
Focused network expansion remains a key strategy, with 49 new stores opened and 3 closed during the quarter, bringing the total new store openings in H1 FY27 to 106. Expansion efforts are concentrated on high-potential Tier 2 and Tier 3 markets. The retail footprint has expanded to approximately 46.28 lakh sq. ft. across 427 stores as of September 30, 2026.
In other significant updates, India Ratings upgraded the company's long-term rating to IND A / Positive from IND A- / Stable in August 2026. Furthermore, V2 Retail soft-launched its V2Kart e-commerce platform in Delhi NCR and Lucknow in September 2026, a move towards an omni-channel strategy with orders fulfilled directly from stores.
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V2 Retail Limited filed this with the NSE as a statutory disclosure, categorised under other company updates. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by V2 Retail Limited. Read the original for the full detail.