V2 Retail earnings calls.

V2 Retail delivered exceptional Q3 FY26 results with 57Current reported value: 57. No comparable prior figure is available in the source record.% YoY revenue growth to ₹929Current reported value: 929. No comparable prior figure is available in the source record. crore, driven by 105 new store additions in 9M and robust same-store performance. The company raised ₹400 crore via QIP to fund expansion, with 304 storesCurrent 304 stores. Reported change: +150 planned FY27. operational as of today. Pre-index EBITDA grew 50% YoY to ₹126Current reported value: 126. No comparable prior figure is available in the source record. crore (13.5% margin), while PAT stood at ₹82 crore, up 47Current reported value: 47. No comparable prior figure is available in the source record.%. Full-price sales contributed 92%Current 92%. Reported change: Improved from prior periods., indicating strong pricing power and reduced discounting dependence. Management targets minimum 50% revenue growth and 150 new stores for FY27, maintaining 8-10% SSG guidance. New stores are ramping faster than historical norms at 730 rupees PSF versus mature stores at ₹1,200. The lease accounting change (aligned with peers) resulted in ₹27.69 crore exceptional gain but did not affect pre-index economics. Working capital normalization is expected as QIP proceeds are deployed for capex, with payable days reverting to 55-60 days. Key risks include intensifying competition in value fashion and margin pressure from high new-store mix.