V2 Retail Ltd., a value-fashion chain offering apparel for men, women, and children, reported a 28.4% year-on-year (YoY) increase in standalone revenue to Rs 905 crore (US $9.41 million) in the second quarter of FY27, compared with Rs 705 crore (US $7.33 million) in Q2 FY26.
The growth was supported by the addition of 49 stores during the quarter, taking the company’s total operational store count to 427 as of September 30, 2026.
The company added 49 stores and closed three during Q2 FY27. Its retail network covered 46.28 lakh sq. ft. at the end of the quarter, compared with 381 stores as of June 30, 2026.
Same-store sales growth (SSSG) stood at 0.5% on a festival-normalised basis, while it declined 14.9% on a calendar basis. The difference was attributed to a shift in the timing of major festive periods, including Navratri and Durga Puja, which moved into Q3 this year compared with the previous year.
Monthly sales per square foot stood at Rs 700 during Q2 FY27.
V2 Retail also received a long-term credit rating upgrade from India Ratings and Research to IND A/Positive from IND A-/Stable. The upgrade covers working capital limits of Rs 1,750 million (US $18.20 million).
The company has also begun expanding its digital retail operations with the soft launch of its e-commerce platform, V2Kart. The platform is intended to support direct-from-store deliveries and strengthen the company’s omnichannel operations.
V2 Retail’s expansion strategy continues to focus on Tier 2 and Tier 3 markets, where it is adding stores to increase its physical retail footprint. The company is also planning a selective 4–5% price increase in Q3 FY27 to help protect gross margins amid fluctuations in cotton and yarn prices.
In Q1 FY27, V2 Retail reported standalone revenue of Rs 997 crore (US $10.37 million), up 58% YoY, and added 56 stores during the quarter.
