Eternal and Nykaa's Q3 FY26 growth resurfaces as India retail heads toward Rs 215 trillion
Resurfacing a February 2026 update: India's retail market is projected to reach Rs 210–215 trillion by 2035, from Rs 90–95 trillion in 2025. Eternal reported Rs 16,315 crore in Q3 FY26 revenue, while Nykaa grew revenue 27% to Rs 2,873 crore and expanded its store and B2B networks.
India’s retail market could reach Rs 210-215 trillion by 2035. Eternal and Nykaa reported strong Q3 FY26 growth, with quick-commerce breakeven progress, store additions, rapid delivery expansion and Nykaa’s widening B2B retailer network supporting retail-tech opportunity.
Why this matters
The update follows signals that Eternal's Q3 revenue rose 202% as quick commerce reached breakeven and that Eternal and Nykaa scaled quick commerce and omnichannel retail.
Retail-company signals are accelerating, up +1,114,000% QoQ.