Eternal and Nykaa Q3 FY26 gains resurface as India retail market eyes Rs 215tn by 2035
Resurfacing an April 2026 update: Eternal reported Q3 FY26 revenue of Rs 16,315 crore, up 201.9% year-on-year, while Nykaa's revenue rose 27% to Rs 2,873 crore. Nykaa added 11 stores to reach 276 across 94 cities as retail-tech players position for India's projected Rs 210-215 trillion retail market by 2035.
What happened
Eternal (formerly Zomato) · India’s retail market could reach Rs 210-215 trillion by 2035. Eternal, Nykaa, Delhivery and IndiaMART are highlighted as
Key facts
- India retail market projected at Rs 210-215 trillion by 2035
- India retail market estimated at Rs 90-95 trillion in 2025
- Eternal Q3 FY26 revenue Rs 16,315 crore, up 201.9% YoY
- Eternal Q3 FY26 net profit Rs 102 crore, up 102.9%
- Eternal added over 200 net stores
- Nykaa Q3 FY26 revenue Rs 2,873 crore, up 27%
- Nykaa Q3 FY26 net profit Rs 68 crore, up 156%
- Nykaa added 11 stores, reaching 276 stores across 94 cities
- Nykaa B2B platform serves over 4.8 lakh retailers across 1,100 cities
- Delhivery Q3 FY26 service revenue about Rs 2,798 crore, up 18%
- Delhivery profit about Rs 110 crore before integration costs and Rs 40 crore after
Why this matters
Nykaa’s growing store network and the broader push for quick-commerce and logistics capabilities create partnership and acquisition opportunities in fulfilment, beauty brands, retail real estate and omnichannel technology.