Retailers Post Strong Q2 Growth Despite Festive Season Shift
What Happened
Indian retailers reported high double‑digit revenue growth in Q2 FY27 (July–September 2026), overcoming the impact of the festive season shifting to Q3. Avenue Supermarts (D‑Mart) posted an 18.4% rise in standalone revenue, reaching ₹19,206 crore, compared to ₹16,218 crore a year earlier. The chain operated 518 stores as of September 30, 2026. V‑Mart Retail reported an 18% year‑on‑year increase to ₹953 crore, with same‑store sales growth at 3%. For H1 FY27, V‑Mart’s revenue rose 21% to ₹2,042 crore. V2 Retail delivered the strongest growth, with a 28.4% increase to ₹905 crore, despite the absence of Navratri and Durga Puja sales in Q2 (shifted to October this year). Retailers attributed the performance to aggressive store expansion and steady consumer demand, while noting that festive‑driven sales will be reflected in Q3.
Key Takeaways
The results highlight the resilience of India’s organized retail sector, which continues to grow through store expansion and value offerings, even when seasonal demand shifts. With festive sales expected in Q3, retailers are positioned for sustained momentum into year‑end.