HSBC sees Lenskart scaling from 2,500 to 7,000 India stores, but starts at Hold
HSBC has initiated coverage of Lenskart with a Hold rating and a ₹513 target price, citing limited near-term valuation upside despite strong retail economics. The brokerage sees scope for the eyewear chain to grow its India network to about 7,000 stores, with store payback estimated at under a year.
HSBC initiated Lenskart with a Hold and Rs 513 target, citing limited valuation upside despite strong integrated retail economics. The brokerage expects the eyewear chain to expand from about 2,500 to 7,000 India stores, supported by rapid payback and market growth.
Why this matters
The initiation echoes recent signals that resurfaced HSBC’s April 2026 Hold call and highlighted Lenskart’s 7,000-store India runway, keeping attention on the retailer’s expansion economics.
Store-opening is steady, with 1,712 signals in the past 90 days; no QoQ change figure was provided.