P N Gadgil Jewellers Limited has informed the Exchange regarding a press release dated September 27, 2025, titled "PNG Jewellers Expands National Footprint, Celebrates Lucknow s Cultural Legacy with Maiden Store Launch".
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PNG Jewellers, a 193-year-old family jeweller based in Maharashtra, has opened its first-ever store in Uttar Pradesh at Gomati Nagar in Lucknow on September 27, 2025. The new large-format store will offer the company's full range of gold, diamond, silver, and platinum jewellery, along with signature collections such as Golden Katha, Pratha, Eiina, and Saptam. Bollywood actress Sushmita Sen inaugurated the store, while Chairman Dr. Saurabh Gadgil highlighted Lucknow's cultural fit with the brand's philosophy. As part of its Navratri expansion drive, PNG is rolling out both large and small-format stores across Maharashtra and Uttar Pradesh, with festive offers including 50% off gold making charges and 100% off diamond making charges.
This marks PNG's entry into a new state (UP) beyond its home market of Maharashtra, which could broaden its revenue base and strengthen its national presence ahead of the festive wedding and gifting season. For shareholders, the expansion signals management's confidence in scaling the brand and tapping newer customer segments, though the actual impact on financials will depend on store-level performance in upcoming quarters.