HSBC sees Lenskart scaling to 7,000 India stores, resurfacing its April Hold call
Resurfacing an April 2026 move, HSBC initiated Lenskart at Hold with a Rs 513 target, implying about 2% upside. The brokerage sees the eyewear retailer expanding from roughly 2,500 Indian stores to 7,000, backed by sub-one-year store paybacks, supply-chain integration and omnichannel reach.
HSBC initiated Lenskart with a Hold and Rs 513 target, citing limited valuation upside despite strong store economics. It expects India expansion from about 2,500 to 7,000 stores, supported by an integrated supply chain, omnichannel retail and organised-eyewear growth.
Why this matters
The HSBC view follows signals on Lenskart's H1 India expansion, including a 203-store push that sharpened competition with Titan, and earlier resurfacing of HSBC's 7,000-store market-potential call.
Store-opening activity is steady, with 1,322 signals recorded in the past 90 days.