PC Jeweller turnover may cross Rs 10,000 cr this fiscal

New Delhi, Oct 14 (PTI) PC Jeweller's turnover is likelyto cross Rs 10,000 crore this fiscal with the companyexpecting about 30 per cent average gr...
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New Delhi, Oct 14 (PTI) PC Jeweller's turnover is likelyto cross Rs 10,000 crore this fiscal with the companyexpecting about 30 per cent average growth in sales fromdomestic and exports market.

The national capital-based jewellery major has added 10new retail stores this fiscal to 85 outlets and plans to open20 more by end of this fiscal, its MD Balram Garg said.

"We achieved around 30 per cent growth in the firstquarter of this fiscal. We expect to maintain this growth inthe next three quarters," he told PTI.

PC Jeweller's standalone revenue stood at Rs 8,214 croreand consolidated at Rs 8,577 crore during last fiscal.

Garg said the company is expecting growth in sales fromboth domestic as well as export markets.

"We will be adding about 30 retail stores this fiscal.

These new stores will also contribute in our overall sales,"he added.

Elaborating on expansion, Garg said: "We are focusing onexpanding in tier I and Tier II locations to leverage theincome growth and brand awareness in such locations".

He said the company is adding its own stores as well asthrough franchisee.

Recently, the company has roped in Bollywood star AkshayKumar and his wife Twinkle Khanna as its brand ambassadors tosupport expansion plans.

Garg said the the company is consistently innovating interms of designs, product ranges and leveraging technology.

Established in 2005, PC Jeweller is the second largestlisted jewellery retailer in India.

The company is engaged in the business of manufacturing,sale and trading of gold jewellery, diamond studded jewelleryand silver items. PTI LUX MJHMKJ.

This is unedited, unformatted feed from the Press Trust of India wire.

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