V-Mart Retail is expecting to grow at around 7 to 8 percent, said Lalit Agarwal, CMD of the company, adding that the firm is planning to come up with 35 new stores by the end of current financial year.

"Going forward ... we expect the growth to be 7-8 percent and not in double-digits," said Agarwal.

The company posted a good set of first quarter numbers but the sore point was same store sales growth(SSSG), which grew at only 1 percent year-on-year.

"The same store sales growth number was so low because of very high base of around 23 percent in the first quarter of last fiscal and the other being competitive pressure. Moreover, there has also been slight slackness in demand all over the regions," said Agarwal.

The CMD said that given the efforts and marketing campaign, a 1 percent growth was a decent number for Q1.

He added that the second quarter too would be soft, however, the rest of the fiscal would do well on the back of festive season.

"Margins for the company in the quarter improved by 200 basis points," he said, adding that "the margins were aided by improving product mix and similar improvement is likely through the year".

The company also plans to launch an e-commerce platform in the next 6-9 months.