HSBC sees Lenskart’s India network scaling to 7,000 stores from about 2,500
HSBC has initiated coverage on Lenskart with a Hold and a Rs 513 target, arguing that strong supply-chain economics and sub-one-year store paybacks support rapid expansion, but leave limited near-term valuation upside.
HSBC initiated Lenskart with a Hold and Rs 513 target, citing limited valuation upside despite strong integrated supply-chain economics, sub-one-year store payback and potential expansion from about 2,500 to 7,000 India stores.
Why this matters
The call reinforces recent resurfaced HSBC signals that frame Lenskart’s 7,000-store India runway as operationally credible but largely priced into the stock following the April 2026 Hold-rating coverage start.
Store-opening is steady, with 1,783 signals recorded in the past 90 days.