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Thrissur-based Kalyan Jewellers is expecting a revenue growth of 30% this year due to increased sales on lower gold prices.
The company had raised around Rs 1,200 crore last year from private equity firm Warburg Pincus.
Kalyan Jewellers said there was a growth in demand due to drop in gold prices even though the company saw revenue decline of 5-10% this quarter due to government regulation on gold schemes.
Ramesh Kalyanaraman, executive director of Kalyan Jewellers, said, "The prices are coming down. Customers are willing to buy now. We are expecting an (revenue) increase of 30% due to this price drop."
Speaking about the World Gold Council report that consumer demand in India for gold dropped by 25% during the second quarter to 154.5 tonne from 204.9 tonne, he said that the overall industry might have seen a drop but organised sector players saw growth.
With restrictions in place to offer long-term gold purchase schemes and offering bonuses, benefits to customers, gold saving schemes run by organised players has dropped. But the company expects customers to adapt to new schemes.
"We are expecting our distribution network to grow by 25-30% every year. This would result in a similar growth in revenue also," Kalyanaraman said.
The company, which has 85 stores across the world, is looking at increasing the number of stores to 100 by end of current fiscal year. It has set a target to complete 22 stores this year, with an investment of around Rs 800 crore.
Overseas stores would rise from 13 to 19 during the time. It is also planning to foray into Singapore, Malaysia and Sri Lanka markets during next year, he added.
The company is not looking to raise more funds currently, he added.
