Avenue Supermarts is the most efficient Indian grocery retailer, but sustaining the growth momentum would be a challenge.
D-Mart listed earlier this year and has since been on a tear, growing almost four-fold over its issue price of ₹299 and its market capitalisation now is almost ₹69,000 crore. It has already entered the top 50 in the BT-500 (ranked 49). Just as Walmart followed a clustered expansion approach during its initial years, D-Mart too is present only in four out of the 29 Indian states (Maharashtra, Gujarat, Andhra Pradesh and Karnataka). And, like Walmart, it also owns the real estate of over 85 per cent of its stores.
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