| Question | Answer |
|---|---|
| Where was it founded? | Mumbai, India |
| Who founded it? | Radhakishan Damani |
| Is it part of a foreign chain? | No |
| Where is it listed? | On the Indian stock exchanges |
DMart: the history in brief
| Year | What happened |
|---|---|
| 2000 | Radhakishan Damani incorporates Avenue Supermarts. |
| 2002 | The first DMart store opens in Powai, Mumbai. |
| 2010 | The chain reaches 29 stores, in Maharashtra and Gujarat, after a deliberately slow start. |
| December 2016 | The company starts DMart Ready, its online grocery service. |
| March 2017 | Avenue Supermarts lists on the NSE and BSE. |
| March 2026 | DMart reaches 500 stores, having opened 85 in the financial year. |
Who owns DMart
DMart is owned by Avenue Supermarts Limited, a company listed on the NSE and BSE. Its founder, Radhakishan Damani, is the chairman. Being listed means the public can buy its shares, but the company was built and is still led by its Indian founder.
It is not part of any overseas retail group, and its stores are all in India.
How big DMart is
For the year to 31 March 2026, Avenue Supermarts reported revenue of ₹66,968 crore and a profit after tax of ₹3,224 crore. It had 500 stores with 20.6 million square feet of retail space.
On the stock market it is one of India's 40 most valuable listed companies, with an average market capitalisation of ₹2.65 lakh crore for the first half of 2026.
Our explainer on the DMart business model sets out how the chain makes money on low prices.
Frequently asked questions
Is DMart an Indian company?
Yes. DMart is run by Avenue Supermarts Limited, an Indian company founded by Radhakishan Damani and headquartered in Mumbai.
Who is the owner of DMart?
Avenue Supermarts Limited, a listed company. Radhakishan Damani founded it and is its chairman.
When did DMart start?
Avenue Supermarts was incorporated in 2000, and the first DMart store opened in Powai, Mumbai, in 2002.
Is DMart owned by Walmart or Reliance?
No. DMart belongs to Avenue Supermarts Limited and is not part of either group.
How many DMart stores are there in India?
500, as of 31 March 2026.
Sources
- DMart, Wikipedia. en.wikipedia.org. Accessed 11 October 2026. Founding, first store, listing and leadership. Secondary source.
- Press release: financial results for FY2025-26, 2 May 2026, Avenue Supermarts, filed with the National Stock Exchange. nsearchives.nseindia.com. Accessed 11 October 2026. Source of the revenue, profit and store figures.
- Average market capitalisation of listed companies during the six months ended 30 June 2026, Association of Mutual Funds in India (AMFI). portal.amfiindia.com. Accessed 11 October 2026. Source of every market capitalisation figure and rank in this article.
