Bengaluru, Oct. 21 -- Eternal Ltd has raised Blinkit's store expansion target to 3,500 by March 2027 from an earlier goal of 3,000, and expects to reach about 5,000 stores by March 2028, as it gains confidence in the economics of expansion into smaller cities and newer product categories.

Blinkit added 308 net stores in the September quarter, taking its network to 2,751. Management expects adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) margins to keep improving despite the faster rollout, with gains from mature stores expected to offset the initial drag from new outlets, its Q2 FY27 shareholders' letter noted.

Eternal's consolidated revenue from operations rose 77.6% year-on-year to Rs.24,138 crore in t...