Kalyan Jewellers Revenue Grows 39% In Q3; Plans Expansion

Kalyan Jewellers on Tuesday said its consolidated revenue increased 39 per cent year-on-year during the third quarter of the current fiscal, driven by strong festive and wedding demand. The company had reported a consolidated net revenue of Rs 5,223.07 crore in the third quarter (October-December) of the previous fiscal.

India operations saw a 41 per cent revenue growth during Q3 of the fiscal 2024-25 compared to Q3 of the previous year, with 24 per cent same-store-sales-growth, the company said in its latest quarterly update. The revenue from Middle East operation was up 22 per cent, contributing 11 per cent to consolidated revenue.

The company said 24 Kalyan showrooms were opened in India and the first company-owned showroom in the US during the third quarter, while its digital platform Candere recorded an 89 per cent revenue growth during the period. The company also opened 23 Candere showrooms in Q3 of the 2024-25 fiscal.

During Q4, the company plans to launch 30 Kalyan showrooms and 15 Candere showrooms in India. Kalyan Jewellers aims to launch over 130 new showrooms in FY25. In the next fiscal year, the company has drawn up plans to launch 170 new showrooms across Kalyan and Candere formats in India and abroad. As of December 31, 2024, the company operated 349 showrooms across its brands.

(PTI)