Reva Diamonds by PNGS reported a 46.25% year-on-year increase in revenue from operations, excluding gold sales, to Rs 120.54 crore for Q2 FY27, compared with Rs 82.42 crore in the corresponding quarter last year. The growth came despite the absence of festive days in the July-September quarter this year. 

For the first half of FY27, revenue from operations excluding gold sales increased 75.75% to Rs 236.53 crore, compared with Rs 134.58 crore in H1 FY26. Including gold sales, H1 revenue stood at Rs 238.51 crore, up 52.19% year on year. The company clarified that its reported gold sales relate only to surplus old gold received in exchange for new diamond jewellery and does not include gold bullion or commodity trading. 

Retail Expansion

During Q2, Reva opened two company-owned, company-operated stores at Amanora Mall, Hadapsar, Pune, in July and Agora Commercial Complex, Nashik, in September. Its retail network now stands at 38 points of sale, comprising four exclusive COCO stores and 34 shop-in-shop counters, compared with 36 at the end of June 2026. 

The company remains on track to open approximately 15 new COCO stores within 24 months of its IPO, with the expansion focused on Tier 1 cities and selective Tier 2 and metro markets across Maharashtra and North India. 

Reva also launched its e-commerce platform, revadiamonds.com, during the quarter, allowing customers to browse and purchase certified natural diamond jewellery online. 

Natural Diamonds Beyond Festive Buying

Amit Modak, CEO, Reva Diamonds by PNGS, said the Q2 performance indicated growing consumer demand for diamonds beyond traditional festive occasions, with purchases increasingly linked to personal milestones, celebrations and self-expression. 

Aditya Modak, Director, Reva Diamonds by PNGS, said the company was expanding its reach through both physical stores and its digital platform, with the focus on making natural diamond jewellery more accessible to consumers.

Reva expects the upcoming wedding season and the Dussehra-Diwali period in Q3 to support higher average order values and provide a favourable backdrop for its planned retail expansion.