Blinkit, Eternal’s quick commerce business, reported a 93% year on year increase in revenue to Rs 19,152 crore in Q2 FY27, as it accelerated store expansion and raised its network target to more than 3,500 stores by March 2027, up from its earlier guidance of 3,000.
The company added 308 net new stores during the July-September quarter, taking its total network to 2,751. It is now planning to expand to around 5,000 stores by March 2028, according to Eternal CFO Akshant Goyal.
The revised target signals growing confidence in Blinkit’s newer markets and product categories. But the next phase of expansion will also test whether the company can maintain store-level returns as it enters more cities and competes for customers in India’s crowded quick-commerce market.
Blinkit Expands Into Smaller Cities and New Categories
Akshant Goyal said stronger performance from newer markets and categories had helped the company become more confident about expanding faster. According to him, stores in smaller cities and locations focused on newer categories were meeting the company’s expected margin and payback targets.
He also said new stores in competitive markets were clearing Blinkit’s return thresholds, supporting the decision to increase the expansion target.
The company believes its cash balance and profits from food delivery and quick commerce give it the financial capacity to fund the rollout. However, the success of the plan will depend on how consistently new stores attract sufficient order volumes and generate returns.
Blinkit’s Customer Base Reaches 37 Million
Blinkit’s average monthly transacting customer base reached 37 million, up from 31.8 million in the previous quarter. The platform processed nearly 399 million orders during Q2 FY27, compared with 222.7 mn in the year-ago quarter, according to reported company figures.
Eternal Group CEO Albinder Dhindsa said the company sees further room to expand, particularly in smaller cities and underserved pin codes. He has also stressed that Blinkit is prioritising customers who order regularly, shop across categories and are profitable to serve, rather than relying heavily on discounts to attract one-time buyers.
This approach matters because each dark store has limited capacity. Acquiring customers who order frequently can help spread fixed costs across more orders and improve store economics. Heavy discounting, by contrast, can draw demand that disappears when offers end.
Can Blinkit Maintain Profitability While Expanding?
Blinkit’s adjusted EBITDA reached Rs 184 crore in Q2 FY27, compared with Rs 102 crore in Q1 FY27, and its adjusted EBITDA margin improved to 0.9% of NOV. The company has said that stronger performance from mature stores should help offset the initial pressure that new outlets place on margins.
The revised expansion target therefore represents both an opportunity and an execution challenge. More stores can improve product availability and bring quick commerce to new customers, but each location needs enough demand to justify its operating costs.
For Eternal, the key measure will not simply be how quickly Blinkit reaches 3,500 stores. It will be whether the expanded network can generate sustainable order growth and returns while the company competes with other quick commerce platforms.
