BlueStone Targets ₹12,000 Cr Revenue by FY30, Eyes 5X Growth Through Store Expansion

Omnichannel jewellery brand BlueStone is aiming to achieve an annual revenue of ₹12,000 crore by FY30, nearly five times its FY26 revenue of ₹2,486 crore, driven by aggressive store expansion and strong same-store sales growth.

The company has also set a target of improving its Pre-IndAS EBITDA margin to 14.7% by FY30 from 7.4% in FY26, implying a revenue CAGR of 50% over the next four years. Between FY22 and FY26, BlueStone reported an 83% CAGR with revenue growing nearly 12 times from ₹211 crore to ₹2,486 crore.

BlueStone expects same-store sales growth (SSSG) to contribute a 30% CAGR, while new store additions are projected to add another 20% CAGR. The company official noted that many stores launched since FY19 have already achieved breakeven.

In FY26, BlueStone turned PAT profitable for the first time, posting a net profit of ₹26 crore against a loss of ₹219.2 crore in FY25, while operating revenue rose 38% year-on-year to ₹2,441.2 crore.

The retailer plans to expand its store network from 340 outlets across 134 cities and towns in FY26 to 706 stores by FY30, with more than half of its outlets located in Tier II and Tier III markets. However, rising gold prices have slowed expansion with the company opening 65 stores in FY26 and adopting a cautious, demand-led approach to future additions.

BlueStone is also focusing on repeat purchases and higher customer spending. Revenue from repeat customers increased to 54.5% in FY26, while average order value reached ₹66,000. Its customer base stood at 9.4 lakh at the end of FY26.