Eternal, Nykaa, Delhivery post strong Q3 FY26 as India retail eyes Rs 215 trillion by 2035
A BCG-RAI report projects India's retail market hitting Rs 215 trillion by 2035, spotlighting four tech enablers. Eternal's revenue surged 201.9% YoY to Rs 16,315 crore, Nykaa grew 27% to Rs 2,873 crore with profit up 156%, and Delhivery rose 18%. Store expansion and new formats like Nykaa Now signal momentum.
BCG-RAI report projects India's retail market reaching Rs 215 trillion by 2035. Analysis profiles four retail-tech enablers—Eternal (Zomato), Nykaa, Delhivery, IndiaMART—covering Q3 FY26 earnings, store expansion, quick commerce breakeven, and new format launches like Nykaa Now and Perfumery.
Why this matters
Nykaa's Q3 momentum follows its recent expansion of the L'Oreal Luxe partnership, taking over Kiehl's India operations as it scales beauty distribution and new retail formats.
Retail-company signals are accelerating, up 421000% QoQ.