Eternal, Nykaa lead retail-tech pack as India market races toward Rs 215 trillion by 2035
Q3 FY26 results show Eternal revenue up 201.9% YoY to Rs 16,315 crore and net profit up 102.9% to Rs 102 crore, with 200+ net new stores. Nykaa posts revenue up 27% to Rs 2,873 crore, net profit up 156% to Rs 68 crore, 45.2% gross margin, and 276 stores across 94 cities. BCG-RAI pegs retail at Rs 90-95 trillion in 2025.
BCG-RAI report projects India's retail market at Rs 215 trillion by 2035. Analysis covers Q3 FY26 results of retail-tech enablers Eternal (Zomato), Nykaa, Delhivery and IndiaMART, highlighting quick commerce breakeven, store expansion, and owned-brand-led margin gains.