HSBC sees Lenskart’s India store runway at 7,000, resurfacing its April 2026 Hold call
HSBC had initiated coverage on Lenskart with a Hold rating and Rs 513 target back in April 2026, citing limited near-term upside despite a long runway for expansion. The broker saw the eyewear retailer scaling from about 2,500 stores to a potential 7,000 in India, supported by sub-one-year store paybacks.
HSBC initiated Lenskart with a Hold and Rs 513 target, saying valuation captures much of its growth. It expects store additions, productivity and margins to support expansion from roughly 2,500 stores toward a potential 7,000-store India network.
Why this matters
The signal reinforces recent Lenskart coverage on HSBC’s April 2026 Hold call, limited upside and the retailer’s potential to expand its India network from roughly 2,500 to 7,000 stores.
Store-opening is steady, with 1,708 signals recorded over the past 90 days.