Reliance Retail expects to deliver more than 20 percent compound annual growth rate (CAGR) in revenue over the next three years, Director Isha Ambani told shareholders at the company’s 48th annual general meeting on August 29.
Ambani said the growth target is based on the company’s proven scale and business model rather than broad aspirations. "Looking ahead, we are confident of delivering 20%+ CAGR in retail revenues over the next three years. This is not an aspirational slogan. It is a prediction grounded in the scale of our capabilities and the depth of opportunity before us which no other retailer in India possesses," she said.
She pointed to Reliance Retail’s financial performance last year as evidence of its resilience. Gross revenue grew 8 percent in FY25 to Rs 3,30,943 crore ($38.7 billion), while earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 8.6 percent to Rs 25,094 crore ($2.9 billion).
The company is banking on multiple growth engines including offline, online, and business-to-business formats. Ambani said each of these segments is "already proven, profitable at scale, and primed for acceleration."
Reliance Retail also expects digital channels to play a larger role. Ambani said online sales, which currently make up a high single-digit share of retail revenues, are projected to account for more than 20 percent within three years. She added, "Our unmatched digital strength is another accelerator of our retail business."
The company’s expanding customer base is another factor supporting its growth outlook. "Our registered customer base has grown to 349 million, up 15% year-on-year. We processed around 1.4 billion transactions in the year – nearly matching the population of India – a scale that only reinforces our ability to grow profitably," Ambani said.
The latest quarterly results also underline this momentum. For the quarter ended June 30, Reliance Retail posted a net profit of Rs 3,271 crore, compared with Rs 2,549 crore in the same period last year. Consolidated gross revenue rose 11 percent year-on-year to Rs 84,171 crore, though it fell 5 percent from Rs 88,620 crore in the previous quarter.
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