P N Gadgil Jewellers marked a significant milestone with the successful launch of its new store in Varanasi on March 27, 2026, further strengthening its presence in Central India. The grand opening ceremony of this 6000 sq ft store on Sigra Chauraha Road was graced by renowned actress and brand ambassador Madhuri Dixit, adding to the celebratory spirit of the occasion.

Store Details and Location

The Varanasi store represents PNG Jewellers' strategic expansion into culturally rich markets, becoming the company's 76th overall store and 4th store in Uttar Pradesh. Located in a prime retail area at Sigra Chauraha Road, the store is positioned to serve the city's vibrant jewellery market.

Product Collections and Offerings

The store showcases an extensive range of gold, diamond, and bridal jewellery, thoughtfully curated to cater to the tastes and traditions of the region. Featuring some of the brand's most sought-after collections including Saptam, Katha, Pratha, Eiina, and Polmi, the store offers collections suited for weddings, festive occasions, and everyday elegance.

Inaugural Offers and Customer Response

To celebrate the launch, PNG Jewellers introduced exclusive limited-period inaugural offers, including flat 50% off on gold jewellery making charges and flat 100% off on diamond jewellery making charges. These promotional offers received an enthusiastic response from customers and led to strong footfall, making it an ideal time for both everyday and wedding jewellery purchases.

Management and Celebrity Statements

Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, said, "The launch of our Varanasi store is an important step in our journey of expanding across culturally rich markets in India. Varanasi holds deep traditional significance, and we are delighted to bring our legacy of trust and craftsmanship to this city. The overwhelming response from customers reaffirms our belief in the region's potential and strengthens our commitment to serving them with excellence."

Madhuri Dixit added, "It is truly special to be part of PNG Jewellers' expansion into a city as culturally vibrant as Varanasi. The brand's legacy of trust and beautiful craftsmanship resonates strongly with customers, and it is wonderful to see such an enthusiastic response at the launch. I wish the team continued success as they reach new milestones across the country."

Strategic Market Positioning

Varanasi, located on the sacred Ganga River, is known for its deep spiritual culture, devotion to Lord Shiva, and grand festivals like Dev Deepawali. Jewellery in the city holds strong cultural and emotional value, especially during weddings and religious occasions, and is often linked to beliefs in prosperity associated with Lakshmi. For PNG Jewellers, building a strong presence here means offering designs inspired by local preferences, connecting with festive and spiritual sentiments, and becoming a part of the city's rich cultural and bridal traditions.

With this launch, PNG Jewellers continues to build on its nearly two-century-old legacy, bringing its hallmark of purity, design excellence, and customer trust to newer markets while enhancing the overall jewellery retail experience.

Source: Company/INE953R01016/aa8d457e-7e07-43e5-876e-5d4e1528f513.pdf

P N Gadgil Jewellers Limited has achieved a significant financial milestone by surpassing ₹10,000 crore in revenue for the financial year 2025-26, demonstrating strong underlying business momentum. The jewelry retail company has also recorded exceptional festival sales performance during the Gudi Padwa celebrations.

Revenue Milestone Achievement

The company's achievement of crossing the ₹10,000 crore revenue threshold in FY26 represents a defining moment in its growth journey. This milestone reflects the company's robust market presence and successful execution across categories and regions in India's competitive jewelry sector.

Gudi Padwa Festival Sales Performance

P N Gadgil Jewellers demonstrated exceptional performance during the Gudi Padwa festival, recording sales of ₹170.7 crore with a robust year-on-year growth of 38%. This strong performance occurred despite elevated gold prices, showcasing the strength of the brand and customer loyalty during auspicious occasions.

Segment-wise Performance

The company delivered strong growth across all major segments during the festival period. The Gold segment remained the primary value driver with revenues rising by 35% year-on-year, while the Diamond and Silver segments showed exceptional performance with growth rates of 61% and 118% respectively.

Management Commentary

Dr. Saurabh Gadgil, Chairman and Managing Director, emphasized that surpassing the ₹10,000 crore revenue milestone marks a defining moment in the company's journey. He attributed this achievement to the unwavering trust of customers and the relentless dedication of employees. The management remains optimistic about sustaining this performance momentum, particularly with the ongoing wedding season and continued expansion into new markets.