LONDON—Marks & Spencer Group PLC said it is on track to double its store count in India in the next 15 months, an ambition that poses both risks and opportunities for the British retailer.

M&S has recently struggled in troubled markets such as Russia, Ukraine and Turkey and was forced to reconfigure its footprint in China, but India has emerged as a relative bright spot. Revenue climbed 23% last fiscal year.

"I think there is an instinctive understanding of M&S in India," said the company's head of international business, Patrick Bousquet-Chavanne.

M&S is in 21 cities in India so far, with a focus on large cities such as Mumbai, Delhi and Kolkata. Now, M&S is looking to deepen its exposure to India. It plans to open stores in less-developed cities, such as Vijayawada, Jalandhar and Vizag, during the current fiscal year ending in March, while also beefing up its footprint in larger cities.

The company—which operates in India through a joint venture with Reliance Industries Ltd., one of India's largest companies—in early October will open its 50th store in India, in Mumbai's Chhatrapati Shivaji airport.

By the end of next year, the British retailer plans to have 100 stores in India, already its largest market outside the U.K. by store count.

"We've been encouraged by the performance of stores we have opened in the past year," Mr. Bousquet-Chavanne said. M&S has opened 12 new stores in India over the past year and soon will launch its first television campaign there.

The retailer plans to redouble its efforts in lingerie in particular. M&S opened a 4,800-square-foot stand-alone lingerie and beauty store last year in Mumbai, a format it says is doing well. Of the 50 new stores it opens, 19 will be lingerie and beauty stores. India and Saudi Arabia are the only markets in which M&S has such stand-alone stores.

Mr. Bousquet-Chavanne said lingerie is one of the company's best-performing businesses in India, making up roughly 20% of revenue there. M&S doesn't disclose a figure for revenue in the country, but analysts say the figure is small compared with its European markets.

The lingerie market in India grew 17% between 2009 and 2013, according to consulting firm Wazir Advisors. Renu Aggarwal, a consultant at Wazir, said M&S is increasing awareness among consumers about lingerie styles.

But finding the right locations in India for new stores that carry M&S's full product range could be a challenge, said Gulam Zia, who does research and advisory work at real-estate brokerage Knight Frank India.

India faces a peculiar conundrum: There is a glut of space in numerous malls, but competition is fierce for a select few prime locations.

M&S operates in India through a mix of flagship department stores of about 35,000 square feet and smaller stores of 12,000 square feet to 15,000 square feet, mainly in malls.

Another challenge: M&S doesn't sell online in India. Brick-and-mortar retailers will see their share of the organized retail market there drop to 13% in 2019 from 17% last year, according to Knight Frank, which predicts that e-commerce spending will jump to 839 billion rupees ($12.7 billion) from 72 billion rupees. Mr. Bousquet-Chavanne said M&S is evaluating its options in the space closely.

Write to Saabira Chaudhuri at saabira.chaudhuri@wsj.com

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(END) Dow Jones Newswires

September 30, 2015 08:05 ET (12:05 GMT)