Reva Diamonds by PNGS has reported strong revenue growth in Q2 FY27 despite the absence of festive days, with H1 FY27 revenue rising 75.75% to ₹236.53 crore. The brand also expanded its retail presence to 38 points of sale and launched its e-commerce platform, revadiamonds.com.
Quick Summary
- Reva Diamonds by PNGS recorded 46.25% year-on-year Q2 FY27 revenue growth, excluding gold sales.
- H1 FY27 revenue excluding gold sales increased 75.75% to 236.53 crore ₹.
- Reva expanded its retail network to 38 points of sale.
- Two new COCO stores opened in Pune and Nashik during the quarter.
- Reva launched its e-commerce platform, revadiamonds.com.
- The company remains on track to open approximately 15 new COCO stores within 24 months of its IPO.
- Reva expects the upcoming wedding season and Dussehra–Diwali festive period to support higher average order values.
H1 FY27 revenue rises 76% to 236.53 crore; SIS plus EBO store count reach to 38 with ₹ new stores (EBO’s) in Pune and Nashik; brand launches e-commerce platform revadiamonds.com
Pune, October 6, 2026: PNGS Reva Diamond Jewellery Limited (NSE: PNGSREVA | BSE: 544718), the certified natural diamond jewellery brand backed by the 194-year legacy of the P. N. Gadgil & Sons Group, has reported a 46.25% year-on-year increase in revenue from operations, excluding gold sales, to 120.54 crore ₹ for the quarter ended September 30, 2026 (Q2 FY27), compared with 82.42 crore in Q2 FY26.
Strong Growth Despite Absence of Festive Days
The growth is particularly notable given the timing of the quarter. The 45-day Dussehra–Diwali festive season is traditionally one of the key periods for diamond jewellery purchases. While nine festive days fell within the July–September quarter last year, there were none this year. Despite this, Reva delivered strong growth, reflecting sustained consumer demand for natural diamond jewellery beyond the traditional festive calendar.
For the first half of FY27 (April–September 2026), revenue from operations, excluding gold sales, increased 75.75% to 236.53 crore ₹ , compared with 134.58 crore in H1 FY26.
Revenue Performance
Revenue from Operations Q2 FY27 Q2 FY26 YoY Growth H1 FY27 H1 FY26 YoY Growth
Excluding gold sales (₹ crore) 120.54 82.42 46.25% 236.53 134.58 75.75%
Including gold sales (₹ crore) 120.54 102.97 17.46% 238.51 156.72 52.19%
Gold sales refer only to surplus old gold received from customers in exchange for new diamond jewellery and remaining after its use in manufacturing. Reva does not trade in gold bullion or commodities. The financial figures are subject to limited review by the Company’s Statutory Auditors.
Two New COCO Stores Strengthen Reva’s Retail Presence
During the quarter, Reva expanded its retail network with the opening of two company-owned, company-operated (COCO) stores: Amanora Mall, Hadapsar, Pune, in July 2026, and Agora Commercial Complex, Nashik, in September 2026.
With these additions, Reva now has 38 points of sale, comprising 4 exclusive COCO stores and 34 shop-in-shop counters, compared with 36 points of sale at the end of June 2026.
COCO Expansion Remains on Track
The new COCO stores are performing in line with expectations. The company remains on track to open approximately 15 new COCO stores within 24 months of its IPO, with expansion led by Tier 1 cities and supported by selective entry into Tier 2 and metro markets across Maharashtra and key North Indian markets.
Reva Goes Online with revadiamonds.com
During the quarter, Reva also launched its e-commerce platform, revadiamonds.com, enabling customers to explore and purchase certified natural diamond jewellery online.
The platform extends Reva’s retail experience beyond physical stores, giving customers greater convenience and access to the brand’s collection across markets.
Management Commentary
Amit Modak, CEO, Reva Diamonds by PNGS, said:
“Jewellery retail has traditionally been closely linked to the festive calendar, and this quarter gave us none of it. Last year, nine festive days fell within Q2; this year, there were none. Against that backdrop, our 46% revenue growth is particularly encouraging. It indicates that consumers are increasingly choosing diamonds for personal milestones, celebrations and self-expression, rather than limiting purchases to festive occasions.”
“Our new stores in Pune and Nashik are performing as planned, while our COCO expansion remains on track. With the upcoming wedding season, Dussehra and Diwali, we enter the second half of the year well positioned to serve customers looking for larger and more significant jewellery purchases.”
Aditya Modak, Director, Reva Diamonds by PNGS, said:
“Reva was built around a simple proposition — certified natural diamond jewellery backed by a family name that customers have trusted for generations. During the quarter, we took this proposition to more customers through both our expanding retail network and our digital platform.”
“The addition of Amanora and Nashik strengthens our presence in key customer markets, while revadiamonds.com gives customers the convenience of discovering and purchasing Reva jewellery online. As we expand across stores and digital channels, our focus remains on making natural diamond jewellery more accessible, relevant and effortless for today’s consumer.”
Outlook
Industry trends continue to indicate a favourable outlook for India’s diamond jewellery market, supported by evolving consumer preferences, rising disposable incomes and growing acceptance of diamonds beyond traditional occasion-led purchases.
Reva expects the upcoming wedding season and the Dussehra–Diwali festive period in Q3 to support higher average order values and provide a favourable backdrop for its planned retail expansion.
About PNGS Reva Diamond Jewellery Limited
PNGS Reva Diamond Jewellery Limited (CIN: L32111PN2024PLC236494) is a focused diamond jewellery retailer backed by the P. N. Gadgil & Sons Group, which brings over 194 years of heritage in the jewellery industry.
Reva offers certified natural diamond jewellery through a network of 38 points of sale, comprising exclusive company-owned stores and shop-in-shop counters, with a strong presence in Maharashtra and an expanding footprint across select markets.
Drawing on strong brand recall, sourcing capabilities and expertise in studded jewellery, Reva is pursuing a COCO-led retail expansion strategy aimed at building a scalable and differentiated natural diamond jewellery business.
FAQs
What was Reva Diamonds by PNGS’s Q2 FY27 revenue growth?
Reva Diamonds by PNGS reported a 46.25% year-on-year increase in revenue from operations, excluding gold sales, to 120.54 crore ₹ in Q2 FY27.
What was Reva Diamonds by PNGS’s H1 FY27 revenue growth?
For H1 FY27, revenue from operations excluding gold sales increased 75.75% to 236.53 crore ₹.
How many points of sale does Reva Diamonds have?
Reva Diamonds now has 38 points of sale, comprising 4 exclusive COCO stores and 34 shop-in-shop counters.
Where did Reva Diamonds open new COCO stores?
Reva Diamonds opened new COCO stores at Amanora Mall, Hadapsar, Pune, and Agora Commercial Complex, Nashik.
Has Reva Diamonds launched an e-commerce platform?
Yes. Reva launched revadiamonds.com, enabling customers to explore and purchase certified natural diamond jewellery online.
What is Reva Diamonds’ retail expansion plan?
The company remains on track to open approximately 15 new COCO stores within 24 months of its IPO, with expansion led by Tier 1 cities and supported by selective entry into Tier 2 and metro markets.
Source: SVAR Media Network
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