MAM
Reliance Retail cashes in: revenues, stores, and smiles on the rise
MUMBAI: Reliance Retail Ventures Limited (RRVL) is showing no signs of slowing down, posting a robust quarterly revenue of Rs 88,620 crore, up 15.7 per cent year-on-year, while EBITDA climbed 14.3 per cent to Rs 6,711 crore. Profit after tax soared 30.4 per cent to Rs 3,519 crore, fuelled by operating muscle and clever brand plays.
The retail titan opened a staggering 1,085 new stores in 4Q FY25, nudging its total footprint to 19,340 stores across 77.4 million square feet. The registered customer base swelled to 349 million — almost the population of the United States — with transactions hitting a record 361 million for the quarter.
EBITDA margins remained healthy at 8.5 per cent despite a slight dip, while depreciation eased 3.4 per cent, and finance costs stayed flat. Digital and new commerce channels kept humming, contributing 18 per cent of total revenues.
Quick commerce via JioMart recorded a jaw-dropping 2.4x quarter-on-quarter growth in gross daily orders, with 4,000+ pin codes now covered. Meanwhile, the consumer brands unit clocked Rs 11,450 crore in revenue, staking its claim as the fastest-growing FMCG outfit in India.
Consumer electronics stayed hot, thanks to an early summer and cooling deals, while JioMart Digital expanded its merchant partner base and racked up a 76 per cent year-on-year revenue spike.
Fashion and lifestyle flexed with the launch of Trends 3.0 and the splashy arrival of Shein on AJIO, offering “global fashion at affordable prices” to Indian shoppers. Premium brands got an omni-channel boost, with ‘out-of-store’ sales now contributing 8 per cent to luxury turnover.
Grocery stores continued to punch above their weight, boosted by FreshPik, GoFresh, and a strong showing from Metro’s wholesale business, which posted a 37 per cent jump in HoReCa sales.
JioMart pushed the pedal on quick deliveries, scaling to 2,100+ stores and introducing slick “Quick” and “Scheduled” tabs. Subscription services also boomed, with app visits up 37 per cent.
For the full financial year ended 31 March 2025, gross revenue rose 7.9 per cent year-on-year to Rs 330,870 crore, while EBITDA nudged up 8.6 per cent to Rs 25,053 crore — a steady climb powered by store expansion, customer growth, and bold new bets in e-commerce and brands.
Despite the noise around rising costs elsewhere in the economy, RRVL tightened its margins, improving EBITDA margin by 20 basis points to 8.6 per cent on revenue from operations — a small but significant win in a cut-throat retail landscape.
Profit after tax stood at Rs 12,392 crore, up a healthy 11.6 per cent from last year, even as finance costs dipped 4.1 per cent, and depreciation rose modestly by 7.7 per cent, reflecting investments into expanding and upgrading its footprint.
* Store expansion: RRVL opened 2,659 new stores in FY25. After accounting for rationalisation and consolidation, total stores stood at 19,340 across 77.4 million sq ft.
* Customer base: Registered customer base expanded 14.8 per cent to 349 million — practically one in every four Indians.
* Transactions: Total transactions hit 1.39 billion, up 10.6 per cent year-on-year — a clear sign of rising basket sizes and growing loyalty.
* Digital Commerce and New Commerce: Now contributing a strong 18 per cent of total revenues, signalling that Reliance’s “phygital” strategy — physical plus digital — is working.
* Consumer Brands: Emerging as India’s fastest-growing FMCG arm, notching up revenues of ~Rs 11,450 crore in just its second full year. New launches like Spinner (sports drink) and the acquisition of Velvette (personal care) added fresh fizz.
* JioMart: Quick commerce went into hyperdrive, with daily order volumes climbing 2.4x quarter-on-quarter by the end of the year.
* Fashion and Lifestyle: AJIO kept its cool, onboarding trendy brands, launching Shein, and expanding its same-day delivery service across 26 cities. Own brands like Netplay and Avaasa saw strong growth.
* Consumer Electronics: Helped by heatwaves and heavy promotions — AC and cooler sales soared, while service brand resQ expanded into 300 cities.
* Grocery: Metro acquisition turbocharged staples and beverage sales, while FreshPik and GoFresh catered to the rise of premium tastes.
A few headwinds to watch:
* Area shrinkage: Operated area fell slightly by 2.1 per cent year-on-year, suggesting a tightening of low-performing outlets.
* Margin pressures: Though margins are healthy, the retail battlefield (especially online quick commerce) is brutal and will test profitability resilience.
* Luxury sales: Omni-channel initiatives helped bridge-to-luxury and luxury sales, but “distance selling” models will need constant tweaking to match evolving customer behaviours.
RRVL executive director Isha M. Ambani said: “Reliance Retail delivered strong growth in revenue and profits, powered by improved efficiencies, innovative formats, a sharper product mix, and continued investments in technology and customer experience. We remain focused on shaping the future of retail with agility and purpose.”
Brands
Maharashtra panel orders Lodha to refund Rs 5 crore to homebuyers
Consumer court flags unfair practices in long-running property dispute case
MUMBAI: In a sharp rebuke to one of India’s biggest real estate players, the Maharashtra State Consumer Disputes Redressal Commission has directed Macrotech Developers to refund nearly Rs 5 crore to a senior citizen couple, Uttam and Anindita Chatterjee. The ruling, delivered on March 13, 2026, calls out the developer for “deficiency in service” and “unfair trade practices”, bringing closure to a dispute that has stretched over a decade.
The case traces back to 2015, when the couple booked a 3-BHK flat at World Towers in Lower Parel for Rs 12.22 crore, with possession promised within a year. What followed was a series of changes that complicated matters. After deciding to exit the project, they were persuaded to shift to a 4-BHK in another development priced at Rs 8 crore, with delivery scheduled for 2018. However, within months, the price was allegedly increased to Rs 10 crore. After demonetisation reshaped the market, similar flats were reportedly being offered at lower prices, but the couple were not given the benefit.
Despite paying over Rs 2.83 crore, the couple neither received possession nor clarity. Instead, in 2018, the developer unilaterally cancelled the booking, retained part of the amount as earnest money, and argued that the buyers were investors rather than consumers. The commission rejected this claim, observing that casual references to “investment” do not take away consumer rights when the purchase intent is residential.
The bench also held that the developer could not penalise buyers for payment delays while failing to meet its own delivery commitments. It noted the lack of formal documentation for revised terms and termed the prolonged retention of funds without delivering a home as exploitative.
As part of its order, the commission directed the developer to refund Rs 2.83 crore paid by the couple, along with interest at 10 per cent per annum, amounting to around Rs 2.12 crore. In addition, Rs 1 lakh has been awarded for mental agony and Rs 50,000 towards litigation costs, taking the total payout to over Rs 5 crore. The developer has been asked to comply within two months.
For now, the ruling serves as a reminder that in real estate, shifting terms and delayed promises can carry a significant cost.
