Reliance Retail Q1 Results Preview: Street expects strong revenue growth, operational performance

Reliance Retail Ventures Ltd., is expected to continue its growth momentum with robust revenue growth and operational improvement as the retail arm of billionaire Mukesh Ambani-led Reliance Industries (RIL) is set to announce its first-quarter (April-June) earnings of the financial year 2025-26 on Friday, July 18, alongside its parent company.According to a CNBC-TV18 poll estimate, Reliance Retail’s revenue is expected to rise 16% year-on-year to ₹87,800 crore from ₹75,630 crore in the same quarter last year.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is likely to grow 18% to ₹6,700 crore compared to ₹5,672 crore in Q1FY25. Margins are expected to improve marginally to 7.6% from 7.5%.

Quarter	Revenue (₹ Cr)	EBITDA (₹ Cr)
Q1FY25	75,630	5,672
Q2fy25	76,325	5,861
Q3fy25	90,351	6,840
Q4FY25	88,637	6,721
Q1FY26 (East.)	87,800	6,700

Growth this quarter is expected to be aided by a favourable base, the completion of a strategic recalibration of the store network, and healthy operating leverage.Analysts expect a net addition of 225–250 stores during the quarter, building on the company’s footprint of 19,340 stores at the end of Q4FY25. Revenue per square foot is also estimated to grow by around 18–20% year-on-year, which is expected to support margin expansion.

Key metrics to track include the performance of Reliance Consumer Brands, which reported ₹11,450 crore in revenue for FY25. Growth in platforms such as Tira, Yousta and Swadesh will also be in focus, along with the scaling up of Campa’s retail footprint.

Digital and new commerce channels, which accounted for 18% of total revenue in Q4FY25, remain a critical contributor. The own brands portfolio, which grew 30% year-on-year last quarter, is expected to maintain its momentum.