Avenue Supermarts Softness in metro stores hurt 1Q results; DMart Ready in consolidation mode

Research evidence excerpt

Avenue Supermarts Softness in metro stores hurt 1Q results; DMart Ready in consolidation mode

Exhibit 8: DMart is incrementally expanding into smaller cities and towns beyond tier-1 cities – 75-

80% of the stores added over the last 8 quarters are in tier-2 and beyond cities

DMart: List of select store openings across different cities / towns over the last one year

City / region State

Turkayamjal, Rangareddy Telangana

Bling Square Mall, Bhopal Madhya Pradesh

Malleshwaram, Bengaluru Karnataka

Sangariya, Jodhpur Rajasthan

Urban Village, Ambala Haryana

Chilakaluripeta, Palnadu Andhra Pradesh

Bavdhan, Pune Maharashtra

Ajabpur, Dehradun Uttarakhand

Vidisha Madhya Pradesh

IMT Bawal, Rewari Haryana

Hubli, Dharwad Karnataka

Adilabad Telangana

Quark City, S.A.S Nagar Punjab

Sancoale Goa

Modasa, Aravalli Gujarat

Ullal, Dakshina Kannada Karnataka

Galaxy Blue Sapphire Mall, Greater Noida Uttar Pradesh

WSM Mall, Ghaziabad Uttar Pradesh

Rajeev Gandhi Nagar, Kota Rajasthan

Gachibowli, Rangareddy Telangana

Mandore, Jodhpur Rajasthan

Esplanade Mall, Gurugram Haryana

Koppal Karnataka

Kelambakkam, Chengalpattu Tamil Nadu

Pali Rajasthan

Pakhowal, Ludhiana Punjab

Vesu, Surat Gujarat

Madhapar, Rajkot Gujarat

Kovilpatti, Thoothukudi Tamil Nadu

YSR Kadapa Andhra Pradesh

Bhiwadi Rajasthan

3QFY26

Greamspet, Chittoor Andhra Pradesh

Baran Rajasthan

Halol, Panchmahal Gujarat

Hassan Karnataka

Chirala, Bapatla Andhra Pradesh

EDM Mall, Ghaziabad Uttar Pradesh

Epicah Mall & Business Centre, Moti Nagar New Delhi

Anantapur Andhra Pradesh

Gangashahar Road, Bikaner Rajasthan

2QFY26

Umred Road, Nagpur Maharashtra

Hinganghat, Wardha Maharashtra

Pathankot Punjab

Tathawade, Pune Maharashtra

Ankhol, Vadodara Gujarat

Chhindwara Madhya Pradesh

Tiruvallur Tamil Nadu

Ratan Mall, Agra Uttar Pradesh