Blinkit lifts dark-store capex target as it bets on scale and higher margins
Eternal has raised Blinkit’s steady-state capex guidance to Rs 2.5 crore per store from Rs 1 crore and lifted its long-term adjusted EBITDA margin target to 6% of NOV. The q-commerce platform added 200 stores in Q1 FY27, while lower AOV and softer demand in newer cities remain execution risks.
Blinkit is prioritising larger dark stores, assortment and warehouse technology over discount-led growth, raising per-store capex assumptions and long-term margin guidance. Its Q1 FY27 NOV and profitability improved, though lower AOV, thinner next-city demand and higher capital needs remain key execution risks.
Why this matters
The higher capex plan extends Blinkit’s expansion pattern after its push toward 2,443 stores, planned gourmet dark stores in eight cities, and a tier-2 profitability test tied to lower basket values.
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