Eternal and Nykaa's Q3 FY26 growth resurfaces as India's retail market scales
Financial Express flags Eternal, Nykaa, Delhivery and IndiaMART as retail-tech plays tied to India’s projected ₹210–215 trillion retail market by 2035, resurfacing a late-December 2025 report. Eternal reported Q3 FY26 revenue of ₹16,315 crore, while Nykaa’s revenue rose 27% to ₹2,873 crore.
India’s retail market could reach Rs 210-215 trillion by 2035. Eternal, Nykaa, Delhivery and IndiaMART illustrate retail-tech growth across quick commerce, beauty, logistics and B2B, with Eternal and Nykaa reporting strong Q3 FY26 revenue, profit and network expansion.
Why this matters
The resurfaced report follows signals that Eternal’s Q3 revenue more than tripled, it added 200+ stores, and its quick-commerce business reached breakeven in Q3 FY26.
Retail-company signals are accelerating, up +224017% QoQ.