DP Abhushan eyes 51 stores in Tier 2-3 cities, ₹15,000 cr revenue by FY30

Jewellery retailer DP Abhushan is targeting Rs 15,000 crore in revenue by 2029-30, and plans to increase its store count to 51, particularly across tier-II and III cities, a top company executive said.

“Currently, we have 12 stores in Madhya Pradesh and Rajasthan. But now, we are expanding to Gujarat, Chhattisgarh and Maharashtra.

“We have set a target of 51 stores by 2029-30, mainly in central, north and west India. For this phase of expansion, we are adopting a franchise model, as well as company-owned,” DP Abhushan Promoter Vikas Kataria told PTI.

He said the company achieved Rs 4,065.13 crore revenue in FY26, and with this expansion, it is eyeing Rs 15,000 crore topline by FY30.

DP Abhushan is targeting to be present in 7-8 states, he added.

The company is entering Chhattisgarh with a store in Raipur. In Maharashtra, it is exploring Nagpur and Nasik, and Dahod and Baroda in Gujarat, he said.

Meanwhile, in Madhya Pradesh and Rajasthan, Kataria said, the company is continuing to expand and strengthen its presence.

“We are looking at setting up stores in Sagar and Mansoor in Madhya Pradesh, and Jodhpur and Bikaner in Rajasthan. So, basically, we are expanding in tier II and III cities,” he added.

To accelerate this expansion, the company is looking at franchise or franchisee-owned and company-operated (FOCO) models, and it has already finalised one in Jabalpur, Madhya Pradesh, Kataria said.

“All 12 jewellery stores are company-owned. However, from this financial year, we are looking at the franchise or FOCO model to further our footprint. This will give us an opportunity to grow faster. We have already finalised one store under the franchise model in Jabalpur,” he added.

The company has a capex of around Rs 50 crore for this expansion, to be raised through internal accruals, Kataria said, adding that the Ratlam-headquartered jewellery retailer’s total current debt is Rs 180 crore, and it is planning to reduce it going forward.