Avenue Supermarts, the operator of DMart, has pulled its online grocery service DMart Ready out of seven cities during the June quarter, narrowing the unit to 11 markets from a wider footprint before the exits. The retrenchment at DMart Ready sits opposite a quiet move the company’s founder Radhakishan Damani has made with personal cash: he and his wife now hold close to half a percent of Eternal, the parent of quick commerce rival Blinkit.
What the Company Pulled Back
DMart Ready scaled down its footprint during the April-June quarter, citing thin returns in marginal markets. “During the quarter, we discontinued our operations in seven cities which were marginal contributors. As of June 30, 2026, we operate in 11 cities,” said Vikram Dasu, Whole-time Director and CEO of Avenue E-Commerce Ltd, in the company’s Q1FY27 earnings statement. Avenue Supermarts did not name the cities it exited or offer a timeline for the shutdowns.
We continue to deepen our focus in large metro cities while improving our model. During the quarter, we have discontinued our operations in seven cities which were marginal contributors. As of June 30, 2026, we operate in 11 cities.
The unit has held to a scheduled-delivery and pickup-point model since launch, declining to mimic Blinkit, Swiggy Instamart or Zepto on ten-to-twenty-minute fulfillment. DMart Ready’s seven-city exit and its competitive backdrop positions the move as a managed pruning of marginal markets rather than a retreat from quick commerce itself. The remaining 11 cities, per Dasu, will get “deeper focus in large metros.”
The Quarter in Numbers
DMart reported standalone revenue from operations of Rs 18,343.49 crore for the quarter ended June 30, up 15.1 percent from Rs 15,932.12 crore a year earlier, the company said in its July 2 business update. Standalone net profit rose 12.8 percent to Rs 936 crore, and EBITDA margin widened marginally to 8.3 percent from 8.2 percent.
| Avenue Supermarts (standalone, Q1FY27) | Value |
|---|---|
| Revenue from operations | Rs 18,343.49 crore (up 15.1% YoY) |
| Net profit | Rs 936 crore (up 12.8% YoY) |
| Total stores at quarter end | 503 (added three) |
| EBITDA margin | 8.3% (vs 8.2% YoY) |
On a consolidated basis, revenue rose 14.8 percent to Rs 18,794.53 crore and net profit rose 11.3 percent, Avenue Supermarts said. The total store count of 503 includes one outlet at Sanpada in Navi Mumbai that remains closed for reconstruction. Separately, the board approved the issuance of non-convertible debentures aggregating up to Rs 1,000 crore in one or more tranches on a private placement basis.
The Slowdown Inside Mature Stores
Growth in DMart’s brick-and-mortar engine cooled, and it cooled in the country’s most lucrative markets. “In large metros, growth in older stores, which have significantly higher revenue per square foot, was flat this quarter, while stores in non-metros continued to grow well,” Managing Director and CEO Anshul Asawa said on the Q1FY27 call. Stores older than two years posted growth of 5.5 percent during the quarter, down from 7.1 percent a year earlier.
Metro flatness is the louder signal. Metro India is where quick commerce density is highest, and where DMart Ready’s physical presence was meant to complement the online arm. Mature-store softness in those markets cuts at the heart of the company’s growth model. Older DMart stores carry higher revenue per square foot, the metric that has justified the chain’s slow-and-steady store expansion for two decades. Non-metro stores, by contrast, continued to grow well, helping the headline number.
Where Damani Has Actually Put His Money
The DMart Ready pullback looks different set against Damani’s personal stock record. The DMart founder and his wife Shrikantadevi together hold about 47.5 million shares in Eternal, the parent of both Zomato and Blinkit, according to Eternal’s shareholder register as reported by YourStory’s look at Damani’s roughly half-percent Eternal stake.
- Radhakishan Damani: about 37.9 million shares (0.39% stake)
- Shrikantadevi Damani: about 9.6 million shares (0.10% stake)
- Combined: about 0.5% of Eternal
The Eternal shareholder roster is dominated by larger institutional names: Info Edge, an early Zomato backer, holds roughly 11 percent, and global funds including Temasek, Vanguard and Fidelity have meaningful positions. The Damanis’ stake is modest in size. It is specific in signal.
Damani acquired the Eternal holding through open market transactions earlier this year, per the same reporting that detailed the DMart Ready exits. The same company filing that disclosed the exits positioned DMart Ready as a focused, metro-only operation. The founder’s parallel buy in Blinkit’s parent points the other way, a vote cast with personal cash for the segment DMart itself has just chosen to step away from. The Eternal stake is small enough to be a portfolio hedge. It is large enough to show Damani’s eye on the part of grocery India that his own company is leaving.
Who DMart Ready Is Up Against
Quick commerce has reshaped India’s urban grocery map. Blinkit, operated by Eternal, promises sub-15-minute delivery and has been adding dark stores aggressively in major metros. Flipkart’s push past 1,000 quick-commerce hubs and Amazon’s separate expansion of Amazon Now underline how crowded the field has become. Swiggy Instamart and Zepto round out the four-platform race, with each adding dark stores and tightening delivery windows.
DMart Ready has run a different playbook since launch, leaning on scheduled slots and pickup points and DMart’s everyday-low-price model rather than deep discounts. The strategy gap is concrete. Quick commerce platforms price for speed and order frequency. DMart Ready prices for basket size and trust. The two systems can co-exist inside dense metros, which is why the company has framed its exits as the shedding of marginal markets, not a step back from online grocery at large.
Who’s Running Avenue Supermarts Now
The board approved a management reshuffle on July 11 affecting two COO roles. Bhaskaran N has been re-appointed as Whole-time Director and Chief Operating Officer for the term October 17, 2026 to May 31, 2028, subject to shareholder approval, with retail operations continuing under him.
Lalit Ahuja, with prior senior roles at Philips India, General Mills, Dabur, Godrej Consumer Products, Mars and Apple, joins as COO and senior management personnel from July 13. Parvez Vandrewala, the outgoing COO, moves to head of centre of excellence from November 1, retaining his senior managerial personnel status.
The reshuffle lands the same week the company reported its Q1FY27 numbers, and pairs the operational reset at the top with the geographic reset at DMart Ready. Avenue Supermarts did not link the two moves publicly.
Frequently Asked Questions
How many cities does DMart Ready operate in now?
DMart Ready operates in 11 cities as of June 30, 2026, after exiting seven cities during the April-June quarter that management described as marginal contributors. The company did not name the cities it left.
Who runs DMart Ready?
Vikram Dasu, Whole-time Director and CEO of Avenue E-Commerce Ltd, the subsidiary that operates DMart Ready. He made the disclosure in the company’s Q1FY27 earnings statement.
What stake does Radhakishan Damani hold in Blinkit’s parent?
Radhakishan Damani and his wife Shrikantadevi together hold about 47.5 million shares of Eternal, equal to roughly 0.5 percent of the company. Eternal’s shareholder register places Radhakishan at 37.9 million shares (0.39 percent) and Shrikantadevi at 9.6 million shares (0.10 percent).
Did DMart’s overall business grow in Q1FY27?
Standalone revenue rose 15.1 percent year-on-year to Rs 18,343.49 crore, standalone net profit rose 12.8 percent to Rs 936 crore, and the company added three stores to a total of 503. EBITDA margin widened to 8.3 percent from 8.2 percent a year earlier.
Why is DMart Ready not chasing ten-minute delivery?
Management has framed DMart Ready as a scheduled-delivery and pickup-point operation that sits close to DMart’s everyday-low-price model, rather than competing on discounts or rapid fulfillment where Blinkit, Swiggy Instamart and Zepto spend aggressively on dark stores.
