Blinkit: scale turning into operating leverage: Stores grew from 377 (FY23) to 2,243 (FY26), and NOV per store rose from Rs 15.09 Cr to Rs 21.65 Cr. Adjusted EBITDA was Rs 102 Cr in Q1FY27 (vs a Rs 162 Cr loss in Q1FY26), with a ~3,000store target by March 2027. Food Delivery: affordability driving growth without hurting margins: Cutting the Gold free-delivery minimum order from Rs 199 to Rs 99, plus more food priced under Rs 250, is expanding the customer base. NOV growth was 20%+ YoY in Q1FY27 (fourth straight quarter of acceleration), with adjusted EBITDA margin up to 5.6%. District is the next growth engine: District NOV grew 60% YoY to Rs 3,218 Cr, and...