National News
Kalyan Jewellers India Ltd recorded PAT of Rs 219 crore in Q3 FY25
~ The first-of-its-kind store aims to redefine Gold and Silver Shopping with Innovation, Luxury, and Unmatched Convenience ~
Kalyan Jewellers India Limited recorded consolidated revenue of Rs 7287 crore in Q3 FY25 as against Rs 5223 crore in the corresponding period of the previous year, a growth of 40%. Consolidated PAT for Q3 FY25 was Rs 219 crore as against a PAT of Rs 180 crore for the corresponding period in the previous year. Consolidated PAT growth would be 44% adjusting for the loss due to reduction in customs duty (announced during Union Budget in July 2024).
The standalone revenue for the company (India) in Q3 FY25, was Rs 6393 crore, as against Rs 4512 crore in Q3 of the previous financial year, a growth of 42%. The India operations recorded PAT of Rs 218 crore for the quarter compared to a PAT of Rs 168 crore for the corresponding period in the previous year. Adjusting for the customs duty loss the PAT growth would be 54%.
Total revenue from the Middle East operations during Q3 FY25 was Rs 840 crore as against Rs 683 crore in Q3 FY24, a growth of over 23%. The Middle East operations recorded PAT of Rs 15 crore for the quarter compared to a PAT of Rs 14 crore for the corresponding period in the previous year. The PBT grew by 23% over the corresponding quarter of the previous year. However, the PAT growth for Q3FY25 was impacted due to the introduction of new corporate tax in the UAE.
The e-commerce division, Candere, recorded a revenue of Rs 55 crore in Q3 FY25 versus Rs 29 crore in Q3 FY24. The company recorded a loss of Rs 6.9 crore in Q3 FY25 versus a loss of Rs 1.6 Cr during Q3 FY24.
Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited said, “We are extremely excited with the way the current year has progressed. The current quarter has started off well despite the volatility in gold prices. We are upbeat about the ongoing wedding season and expect to end the financial year on a strong note. We are on track for the launch of 30 Kalyan showrooms and 15 Candere showrooms in India during the current quarter.”
National News
The Season’s Haute Pick: Rahul Desai Brings Luxury Learning On The Go With Loupe Insight Season 4
As luxury and premium Jewellery become increasingly important growth categories, the industry is also confronting a fundamental question, What does luxury truly mean today?
Is it an expensive product? A beautiful store? Highly personalized attention? Or an experience that customers cannot find elsewhere?
Addressing these questions, jewellery industry mentor, coach, and business strategist Rahul Desai has announced the fourth season of his podcast, Loupe Insight. Titled The New Code of Luxury Jewellery, the season brings focused luxury education to professionals on the go, translating an often abstract subject into practical sessions for the jewellery industry.
Today, the terms premium, luxury and ultra-premium are frequently used interchangeably. At the same time, many experiences positioned as luxury are simply examples of good service. This lack of clarity can influence everything from store design, merchandise selection and pricing to communication and customer engagement.
Through the new season, Rahul aims to help jewellers understand these distinctions and build a more relevant approach to luxury.
Rahul Desai, CEO & MD of IIG, and Founder of RD consultancy Said:

“Luxury is becoming a game changer for jewellery businesses, but the word itself is often misunderstood. A larger store, a more expensive collection or better hospitality does not automatically create a luxury brand. Luxury begins when every element, from the product and environment to the conversation and after-sales relationship, delivers a distinct sense of value”
Across the season, Rahul examines how the meaning of luxury is changing from distant aspiration to greater emotional and lifestyle relevance. The episodes explore subjects such as the difference between premium and luxury, the role of experience in creating perceived value, changing customer expectations, personalization, exclusivity and the new codes influencing modern jewellery retail.
The fourth season of Loupe Insight is supported by Sanghi Jewellers, Finestar Diamonds, Polygon, Jwero.ai and Svar, bringing together respected names from across the jewellery industry to support accessible, future-focused learning for the sector.
The season also challenges the belief that luxury is created only through elaborate interiors, chandeliers or champagne. Instead, it asks jewellers to look more closely at the complete customer journey: how a client is welcomed, how a jewel is introduced, how confidently its value is communicated and how the relationship continues after the purchase.
Designed as short, focused episodes, Loupe Insight makes these conversations accessible to business owners, retailers, manufacturers, designers, sales professionals and students. The “luxury on the go” format allows industry professionals to engage with important business ideas while traveling, working or moving through their day.
Drawing on more than 25 years of experience in jewellery education, retail strategy and industry mentoring, Desai brings together global luxury thinking and the realities of operating within India’s relationship-driven jewellery market.
Loupe Insight Season 4: The New Code of Luxury Jewellery continues the podcast’s larger purpose: helping the industry look beyond products and understand the forces shaping the future of jewellery business.
The new season will be available across Loupe Insight’s digital and podcast platforms.
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