48:1Al-Fath

"Verily, We have given you (O Muhammad) a manifest victory.' refers to Al-Hudaibiya Peace treaty).

regarding Allah's Statement: "Verily! We have granted you (O, Muhammad) Manifest victory." (48.1) It refers to the Al-Hudaibiya Pledge. And the companions of the Prophet (ﷺ) said (to the Prophet), "Congratulations and happiness for you; but what reward shall we get?" So Allah revealed:-- "That He may admit the believing men and women to gardens beneath which rivers flow." (48.5)

Do you (people) consider the conquest of Mecca, the Victory (referred to in the Qur'an 48:1). Was the conquest of Mecca a victory? We really consider that the actual Victory was the Ar-Ridwan Pledge of allegiance which we gave on the day of Al-Hudaibiya (to the Prophet) . On the day of Al-Hudaibiya we were fourteen hundred men along with the Prophet (ﷺ) Al-Hudaibiya was a well, the water of which we used up leaving not a single drop of water in it. When the Prophet (ﷺ) was informed of that, he came and sat on its edge. Then he asked for a utensil of water, performed ablution from it, rinsed (his mouth), invoked (Allah), and poured the remaining water into the well. We stayed there for a while and then the well brought forth what we required of water for ourselves and our riding animals.

We came upon the Prophet (ﷺ) after he had conquered Khaibar. He then gave us a share (from the booty), but apart from us he did not give to anybody else who did not attend the Conquest.

the Messenger of Allah delivered a speech on the Day of the Conquest. (And he mentioned it) in Mursal from.