New Premises
Gargi By PNGS Expands With Four New Stores, Marks Strong Retail Growth
New Outlets in Ravet, Baner, Paud Road (Pune), and DSL Mall, Hyderabad, Reinforce the Brand’s Position as one of India’s Fastest-Growing Fashion Jewellery Names.
Gargi by P N Gadgil & Sons (PNGS), one of India’s fastest-growing listed fashion jewellery brands, has closed its financial year on an emphatic note with the launch of four new exclusive brand outlets — three in Pune’s Ravet, Baner, and Paud Road neighbourhoods, and one at DSL Mall, Hyderabad. The openings mark a fitting close to a year in which Gargi cemented its status as a standout performer in the branded fashion jewellery category, backed by strong financials, an aggressive retail rollout, and a market capitalisation exceeding Rs. 800 crore.
The Ravet store, located at Yashada Windsons, opened on March 26, 2026, followed closely by the launches in Baner and Paud Road — two of Pune’s most aspirational residential and commercial corridors. The Hyderabad outlet at DSL Mall extends Gargi’s footprint in Telangana, a market the brand has been methodically building for the past two years.
Each of the new stores offers Gargi’s full range of contemporary collections — from everyday 925 sterling silver pieces to certified natural diamond lines — designed for the modern Indian consumer seeking wearable, design-forward jewellery at accessible price points.
Speaking about the milestone, Aditya Modak, Co-founder and Director, Gargi by PNGS, said:
“March has always been a defining month for us — it’s when the year’s effort becomes visible. These four launches are not just stores; they are proof of what we set out to build. Ravet, Baner, and Paud Road reflect how deeply Pune continues to trust and embrace Gargi, while Hyderabad tells us our South India story is only getting stronger. As we close this financial year, we are proud to say that we are building not just a bigger brand, but a more meaningful one — one neighbourhood, one customer, one conversation at a time.”
The March launches cap what has been a landmark year for Gargi by every measure. The brand reported nine-month revenues of Rs. 119 crore for FY2025–26, with quarterly revenues crossing Rs. 46 crore in Q3 — a 27% year-on-year jump. Net profit for the same quarter grew by more than 15% year-on-year, and the company has maintained profitability in every quarter since inception. With an EBITDA margin of approximately 31% and a debt-free balance sheet, Gargi’s financial profile stands out sharply in a category still dominated by unorganised players.
From a market-cap perspective, Gargi trades at a valuation in excess of Rs. 800 crore on the BSE — a remarkable milestone for a brand that only commenced retail operations in 2021. The brand now operates across 40+ cities through a combination of exclusive brand outlets, franchise stores, and Shop-in-Shop formats — and has set its sights on at least one new store opening per month through FY2026–27.
Earlier this financial year, the brand opened 12 exclusive brand outlets, launched in Aurangabad and Indore, expanded into Delhi’s Pitampura and Pimple Saudagar in Pune, and opened a store at Spectrum Metro Mall, Noida. The four March launches bring the brand’s pan-India exclusive store count to its highest yet.
New Premises
Actress Prarthana Behere Inaugurates Malabar Gold & Diamonds’ New Showroom At Nexus Seawoods Mall, Navi Mumbai
Strengthens Its Presence In Maharashtra With A Contemporary Jewellery Destination Featuring Lightweight, Everyday-Wear Designs
Malabar Gold & Diamonds, the world’s fourth-largest jewellery retailer and The Responsible Jeweller, has inaugurated its new showroom at Nexus Seawoods Mall in Navi Mumbai. Spanning approximately 1,734 sq. ft., the showroom strengthens the brand’s retail presence in Maharashtra, bringing a curated selection of contemporary jewellery to customers in the region.
Designed in line with Malabar Gold & Diamonds’ global retail standards, the showroom offers a comfortable and premium jewellery shopping experience. Featuring contemporary, lightweight, and youthful designs, the assortment is tailored to meet the evolving preferences of Navi Mumbai shoppers. The collection caters particularly to young consumers aged 25–35 years, offering versatile designs suited to everyday wear and different occasions.
The showroom was inaugurated by actress Prarthana Behere, Regional Brand Ambassador – West Zone, Malabar Gold & Diamonds, along with Dileep Narayanan, Head – Bullion, and Shalin Shah, Executive Director, MBMG, in the presence of distinguished guests and valued customers.
The opening of the new showroom reinforces Malabar Gold & Diamonds’ continued expansion across Maharashtra. Seawoods was selected for its strong retail footfall and growing demand for jewellery among consumers in the region. Located within Nexus Seawoods Mall, the showroom enables the brand to further expand its presence in Navi Mumbai and cater to customers seeking contemporary and lifestyle-oriented jewellery collections.
Speaking on the occasion, M P Ahammad, Chairman, Malabar Group, said:
“The opening of our new showroom at Nexus Seawoods Mall marks an important step in strengthening our presence in Maharashtra. Every new showroom gives us an opportunity to bring Malabar Gold & Diamonds closer to customers and serve them in a market that continues to evolve. Through our presence at Seawoods, we look forward to building lasting relationships with customers in Navi Mumbai and extending the assurance that comes with shopping at Malabar Gold & Diamonds.
For us, expansion goes hand in hand with our commitment to being The Responsible Jeweller, with a strong emphasis on purity, transparent pricing, and responsible business practices. As we continue to grow, our endeavour is to ensure that every new showroom upholds these principles and reflects the trust that customers have placed in us over the years.”
Customers visiting the showroom can avail themselves of inaugural offers, including up to 30% off on the making charges of gold, uncut, and gemstone jewellery, and up to 30% off on diamond value. The offers are valid until 15 November 2026.
The showroom reflects Malabar Gold & Diamonds’ commitment to responsible retail practices. All gold jewellery is BIS hallmarked with HUID, while all diamond jewellery is tested and certified. Under the brand’s Malabar Promises, customers benefit from 100% exchange value on gold and diamond jewellery, transparent pricing, lifetime free maintenance, and responsibly sourced products.
With this launch, Malabar Gold & Diamonds continues to align its retail approach with evolving local consumer preferences while maintaining consistent quality standards and customer-centric retail practices across markets.
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