SUNDAY, 25 OCTOBER 2026

QHAAT

Today in Indian Retail

Ecommerce

Blinkit hits ₹20,940 crore NOV, adds 308 stores to 2,751

Adjusted EBITDA turns ₹184 crore profit as Eternal raises FY27 store target to 3,500 and eyes 5,000 by FY28.

, Retail correspondent··4 min read

Stacked grocery crates and delivery bags inside a lit warehouse aisle at dawn
Stacked grocery crates and delivery bags inside a lit warehouse aisle at dawn

Eternal’s Blinkit posted net order value of ₹20,940 crore in the September 2026 quarter, up 79.3% year-on-year and 22% sequentially, with adjusted EBITDA of ₹184 crore versus a ₹156 crore loss a year earlier. The platform added 308 net dark stores to reach 2,751. Results and guidance came out 21-23 October 2026.

Contribution margin held at 5.3% of NOV while 90-95% of sales now run on owned inventory. Eternal lifted the March 2027 store goal to 3,500 from 3,000 and set roughly 5,000 by March 2028, citing better paybacks in smaller cities.

Dark-store managers and riders feel it first: higher throughput per store at ₹9 lakh NOV daily means tighter assortment control and fewer stock-outs on the till. Mother warehouses now feed tier-2 directly from brand points.

Blinkit NOV reached ₹20,940 crore with 2,751 stores and ₹184 crore adjusted EBITDA.

This squeezes Instamart, which logged ₹6,553 crore NOV and negative margins, while helping brand suppliers who gain predictable 1P volume. It pressures pure marketplace grocery apps on speed and availability.

Watch Q3 store ramp and the festive window for order density in new cities. Next filing will show if 3,500 remains on track by March 2027.

Filed under Ecommerce·Meera Iyer

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