Zomato, Nykaa lead retail-tech pack as India's retail market eyes Rs 215 trillion by 2035
Q3 FY26 results show Eternal (Zomato) revenue up 201.9% YoY to Rs 16,315 cr with quick commerce hitting breakeven, while Nykaa expanded margins and now spans 276 stores across 94 cities. Delhivery and IndiaMART round out four enablers riding India's projected Rs 215 trillion retail boom.
Q3 FY26 results for four Indian retail-tech enablers—Eternal (Zomato), Nykaa, Delhivery, IndiaMART—amid India's retail market projected to hit Rs 215 trillion by 2035, per BCG-RAI report. Eternal's quick commerce hit breakeven; Nykaa expanded margins and stores.
Why this matters
Eternal (Zomato)'s Q3 FY26 breakeven in quick commerce marks a profitability inflection alongside triple-digit revenue growth, positioning it ahead of retail-tech peers Nykaa, Delhivery and IndiaMART.
Retail-company signals accelerating at +699700% QoQ.