Brands
Meesho fires up festive quarter with Rs 10,995 crore NMV surge in Q3 FY26
BENGALURU: Meesho posted a sharp festive-quarter performance in Q3 FY26, clocking net merchandise value (NMV) of Rs 10,995 crore, up 26 per cent year on year, driven by a surge in placed orders and rising purchase frequency across underserved markets.
Placed orders rose 36 per cent to 690 million during the quarter, while annual transacting users climbed 34 per cent to 251 million, cementing Meesho’s position as India’s largest e-commerce platform by both users and order volumes.
Meesho founder and chief executive officer Vidit Aatrey, said the results reflected the strength of the platform’s growth, with more users shopping more frequently, particularly first-time e-commerce consumers in value-focused regions.
He added that despite becoming a public company, Meesho would continue to prioritise platform health and disciplined growth, with free cash flow per share as its long-term performance metric.
User engagement also deepened, with customers transacting an average of 9.78 times annually over the last twelve months, up 9 per cent year on year, signalling the formation of repeat purchasing behaviour.
The company noted that festive season calendar shifts moved some Diwali-led demand into Q2 FY26. Combined NMV for Q2 and Q3 FY26 stood at Rs 21,510 crore, marking a stronger 37 per cent year-on-year growth when adjusted for the timing impact.
Meesho continues to invest in technology-led onboarding, rolling out deep-learning recommendation models and enhanced voice search to boost conversion among first-time users, particularly in regional language markets. Brand participation is also expanding, with companies such as Dabur scaling their presence on Meesho Mall.
On a last twelve months basis, Meesho reported positive free cash flow of Rs 56 crore, supported by its asset-light model and negative working capital cycle. As of December 31, 2025, cash reserves stood at Rs 7,277 crore, including Rs 4,088 crore raised through its recent initial public offering.
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.
