HSBC's April Lenskart Hold call resurfaces, flags potential to scale India network to 7,000 stores
HSBC had initiated coverage on Lenskart in April with a Rs 513 target price and Hold rating, saying much of its growth outlook was already reflected in valuation. The brokerage saw room for the eyewear retailer to grow from about 2,500 Indian stores to 7,000, supported by sub-one-year store paybacks and a growing organised market.
HSBC initiated Lenskart with a Hold and Rs 513 target, saying valuation captures much expected growth. It highlighted strong unit economics, integrated supply chain and potential expansion from 2,500 to 7,000 India stores amid growing organised eyewear demand.
Why this matters
The signal follows September coverage of Lenskart's India rollout alongside Titan EyeCare's precision-led omnichannel push and earlier resurfacing of HSBC's April 2026 view on scaling from 2,500 to 7,000 stores.
Store-opening is steady, with 1,455 signals recorded in the past 90 days.