1. 90+ new stores FY27 - V-Mart added 92 stores in FY26, its highest-ever annual addition, and guided to 90+ gross new stores in FY27 with 8-10 closures. At \~₹1.3-1.4 crore capex per store and new stores breaking even within two months, this sustains the 13-15% annual area growth that has driven revenue from ₹3,254 cr to ₹3,993 cr over two years.
2. Unlimited South turnaround - Unlimited South delivered 33% revenue and 40% EBITDA growth in Q1 FY27, with sales per sq ft up 18% to ₹710. Management targets bringing Unlimited profitability in line with V-Mart within 2-3 years - closing a margin gap that currently runs several points wide on 101 stores.
3. LimeRoad loss narrowing - LimeRoad cut EBITDA losses 39% YoY to ₹2.8 crore in Q1 FY27 while NMV grew 18% to ₹222 million - the first quarter in eight with healthy volume growth and shrinking losses. The platform is CM3-positive and 54% of its orders now carry V-Mart inventory, up from 35% a year ago, making it a funded omnichannel option rather than a cash drain.
4. Private label mix at 70% - Private labels now contribute nearly 70% of apparel sales, up from 66% a year earlier, across nine in-house brands. Higher-margin own brands, plus a reduced FMCG share, supported gross margin even as ASPs rose 2% in Q1 FY27.
5. Tier 4 store productivity - Tier 4 stores grew sales per sq ft 15% YoY to ₹768 in Q1 FY27, the fastest of any tier, on a 10% store-count increase to 68. With 376 of 591 stores already in Tier 3/4 cities and rural demand growing 15%, the cluster-based expansion into smaller towns compounds same-store productivity.
6. Cosmetics & jewellery rollout - Cosmetics and artificial jewellery, launched in 20-25% of stores, are recording 1.5-2% of sales in stores doing well, with a target of 50% store coverage by the end of next year or end of this year. At full rollout this adds roughly 1% to the sales mix - small but incremental on a ₹3,993 cr base, with no incremental capex.