Avenue Supermarts Ltd's (ASM) D Mart is second largest and the most profitable retailer in India. It opened its first store in Mumbai in 2002 and it has a total of 118 stores as of 31st January, 2017. It is present across 45 cities in 9 states and one union territory with majority of stores in Maharashtra (59). It has a retail business area of 3.57mn. sft. as of 31st December, 2016 with size of stores ranging from 10,000 sft. to 60,000 sft.. It predominantly operates on ownership model in most of the stores. ASM's revenues have grown from `47bn. to `86bn. over FY14-16 at a CAGR of...