Trent Ltd is accelerating its expansion into Tier 2 and Tier 3 cities after reporting a 22% year-on-year rise in consolidated revenue to Rs 5,873 crore in the quarter ended September 30, 2026. The retailer plans to add more Zudio and Westside stores, scale up its Star food and grocery business and take its Indian lifestyle brands into overseas markets.
Chairman Noel N Tata said Trent was increasingly expanding across diverse markets, including Tier 2 and Tier 3 locations, where its brands had received a positive response. The company plans to use that reception to deepen its presence in hinterland markets.
The expansion will increase the role of organised retail in smaller cities, where the availability of branded fashion, food and lifestyle stores is becoming part of the changing urban commercial landscape. Trent’s fashion retail footprint now exceeds 18.5 million square feet across 339 cities, including three cities in the UAE.
During the quarter, the company opened 10 Westside stores and 19 Zudio stores, while consolidating two Zudio outlets. As of September 30, its portfolio included 311 Westside stores, 999 Zudio stores, including seven in the UAE, and 32 stores across other lifestyle concepts. Trent also opened its 1,000th Zudio store during the quarter.
The company said the gross margin profile of Westside and Zudio remained stable. Operating EBIT margin rose to 11.6% in the quarter from 10.5% in the year-ago period. Emerging categories, including beauty and personal care, innerwear and footwear, contributed more than 21% of revenue. Westside’s online business, including its presence on the Tata Neu platform, grew 20% in the first half of FY27 and accounted for more than 6% of Westside revenue.
Trent is also seeking to build scale in food and grocery retail through Star. Star recorded revenue growth of more than 20% during the September quarter despite what the company described as an evolving competitive landscape. It added one store during the period, taking its network to 87 outlets across 13 cities. Own brands and products contributed more than 74% of Star’s revenue, according to Tata.
Trent’s consolidated revenue does not include revenue from its Trent Hypermarket business under the applicable accounting standards. Its results do, however, include the company’s proportionate share of the venture’s profitability through the equity method.
For the first half of FY27, consolidated revenue increased 20% to Rs 11,628 crore. Operating EBITDA rose 35% to Rs 1,633 crore, while profit after tax increased 24% to Rs 986 crore. On a standalone basis, second-quarter revenue rose 23% to Rs 5,788 crore, operating EBITDA increased 37% to Rs 791 crore and profit after tax grew 9% to Rs 490 crore.
The company noted that profit comparisons were affected by other income in the corresponding period. The previous year’s second quarter included pre-tax profits from asset sales of Rs 96 crore, while the first half included Rs 109 crore from such sales. Comparable gains in the current financial year were not material.
Tata said Trent would continue strengthening its lifestyle businesses while building a more significant presence in food and grocery retail. He also said the company aimed to become a meaningful exporter of Indian brands. The remarks came as he concluded his tenure as Trent’s chairman, with the company set to continue its store expansion across domestic and overseas markets.
