P N Gadgil Jewellers Expects Higher Demand, Adds 25 Stores

P N Gadgil Jewellers expects jewellery demand to remain higher this year, according to management, with the company preparing for further expansion during FY27. Store Expansion Plans: The company plans to add around 25 new stores during FY27, taking its total store network from 78 stores as of June 30, 2026, to approximately 103 stores by the end of the financial year. The expansion will be carried out through a mix of company-operated and franchise-led formats, with a focus on strengthening the existing presence in Maharashtra while entering newer markets such as Uttar Pradesh, Bihar, Central India and NCR. Retail Business Shows Strong Momentum: In Q1 FY27, consolidated revenue from operations increased 40.7% YoY to ₹2,413 crore. Retail revenue grew 56% YoY, supported by 46% same-store sales growth, taking the retail segment's contribution to around 78% of total revenue. The company is also seeing encouraging traction from newer markets, with recently launched stores in North and Central India reporting a higher share of studded jewellery compared with mature markets.