DMART MINIMAX
Radhakishan Damani’s DMart buys land in Mumbai’s Chandivali for Rs 117 cr
The billionaire Radhakishan Damani-promoted company has paid a stamp duty of Rs 7.03 crore for the transaction that was registered on May 6, according to documents accessed through real estate data analysis platform CRE Matrix.
D-Mart buys 47,000 sq ft for Rs 108 crore in Migsun’s Rohini Mall in Delhi
Avenue Supermarts, the owner of D-Mart, has purchased a 47,000 sq ft space in Migsun's Rohini Mall in Delhi for Rs 108 crore. Migsun group is developing one million sq ft of retail space in Delhi's Rohini area. D-Mart has been adding stores, with 12 new stores in the first half of FY24, bringing the total to 336 stores. The company plans to add 45 stores each year, with an expansion rate of 13-15% YoY.
Radhakishan Damani’s DMart buys retail space in Mumbai’s Kandivali for Rs 89 crore
Avenue Supermarts, the owner of D-Mart supermarket chain, has acquired around 50,000 sq ft of commercial space in Mumbai's Kandivali suburb. The company purchased 17 commercial units across four floors of a residential tower for over INR 88.74 crore. This acquisition is part of the company's expansion strategy, with plans to open 40 stores in the current financial year.
Dmart's online business crosses Rs 2,000 crore sales mark, losses widened to Rs 194 crore
Avenue Supermarts, the operator of DMart retail chain, saw sales at its online grocery unit cross Rs 2000 cr in FY23 but losses widened as it expanded into newer geographies. Sales for Avenue E-Commerce (AEL), its online subsidiary was Rs2202 crore, a 32% jump while net loss widened to Rs 194 cr, as per its latest annual report. The online business brand, DMart Ready, had posted a loss of Rs 142 cr on sales of Rs 1667 cr in the previous fiscal year.
Avenue Supermarts' online business more than double in FY22 but loss widens
"Assortment is a key in grocery and offline retailers are used to having a wide basket of assortment to attract customers and have a larger purchase basket. But online, a sharper assortment coupled with aligned fulfilment model such as hyperlocal or dark stores is the way to go."
