V2 Retail said same-store sales were broadly stable on a festival-normalised basis, while the shift of Navratri and Durga Puja from the second quarter last year to the third quarter this year affected reported same-store sales growth.
Standalone revenue stood at Rs 905 crore in Q2 FY27, compared with Rs 705 crore in Q2 FY26, marking a 28.4% YoY increase. The company said this growth came despite the festive season shifting from Q2 last year to Q3 this year.
On a festival-normalised basis, which compares each day of the quarter with the corresponding day of last year’s festival calendar, same-store sales growth stood at 0.5% in Q2 FY27. On a calendar basis, SSSG was -14.9%, as the base quarter, Q2 FY26, included the Navratri and Durga Puja period, while these festivals fall in October 2026, or Q3 FY27, this year.
V2 Retail said the timing shift highlights the importance of looking through seasonal distortions to assess the underlying stability of its performance. Monthly sales per square foot stood at Rs 700 in Q2 FY27. The company said the quarter did not include the Navratri and Durga Puja season, while a larger portion of its store network is still in the ramp-up phase.
Of the company’s 427 stores, 106 were opened during the first half of FY27. V2 Retail said these factors reflect the natural ramp-up cycle of new stores and the timing of the festive season, while also highlighting the scalability of its expanding store footprint.
With the festive season ahead, the company said it is positioned to capture the demand uplift in Q3 while sustaining its long-term growth momentum.
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