Retail Mogul Radhakishan Damani's DMart Invests ₹117 Crore In Mumbai's Chandivali Land Parcel: Report

Avenue Supermart Limited, the parent company of the popular retail hypermarket chain DMart, led by billionaire Radhakishan Damani, has recently acquired a 52,000 sq ft ( about1.2 acre plot) land parcel in Chandivali, Andheri East. The deal, valued at Rs 117.25 crore, which includes a stamp duty of Rs 7.03 crore, according to the Economic Times report citing documents accessed by CREMatrix.

The transaction for the deal was registered on May 6, 2024.

The currently purchased falls under the industrial zone and hosts a currently a ground -plus-one industrial structure. The company plans to transform it into either a retail shopping center or a commercial building, the Economic Times reported.

Furthermore, in addition to the existing floor space index (FSI), one of the largest food & grocery retailers in India, Dmart has secured permission to develop an additional 26,000 sq ft.

The company boasted a retail business area of 15.1 million sq ft, as of the end of the fiscal year 2023-24.

Financial Highlights

Avenue Supermart on May 4, 2024 announced its standalone and consolidated financial results for the quarter and year ended March 31, 2024, the company announced through an exchange filing.

Standalone result

The company reported a total revenue Rs 12,393 crore in Q4FY24, as compared to Rs 10,337 crore in the same period last year. The EBITDA stood at RS 940 crore and EBITDA margin stood at 7.6 per cent.

The net profit of the company was at Rs 604 crore and PAT margin stood at 4.9 per cent in Q4FY24.

Consolidated result

The total Revenue stood at Rs 12,727 crore and EBITDA in Q4FY24 stood at Rs 944 crore. The EBITDA margin stood at 7.4 per cent in Q4FY24.

The Net Profit stood at Rs 563 crore for Q4FY24 and PAT margin stood at 4.4 per cent in Q4FY24.

Shares performance

The shares of Avenue Supermart Limited on Friday at 3:30 pm IST closed at Rs 4,794.95, down by 0.077 per cent.