Bluestone targets Rs 12,000 cr revenue, 700 stores by FY30 in tier-II/III push

Bluestone is plotting a 4.8x revenue jump to Rs 12,000 crore and more than doubling its store count to 700+ by FY30, anchored on tier-II/III expansion. EBITDA margin is guided to roughly double from 7.4% in FY26 to 14-15% by FY30, with repeat customers already contributing 56% of sales.

— Source publishedMon, 8 Jun, 2026, 13:46 IST·First seen Mon, 8 Jun, 2026, 14:04 IST·Source NDTV Profit

What happened

BlueStone · Bluestone targets Rs 12,000 crore revenue and 700+ stores by FY30, up from Rs 2,500 crore and 340 stores, focusing on tier-II/III expansion. EBITDA

Key facts

  • Rs 12,000 crore revenue target by FY30
  • Rs 2,500 crore current revenue
  • 700 stores by FY30
  • 340 stores currently
  • 30% SSSG
  • 20% distribution-led growth
  • 7.4% EBITDA margin FY26
  • 14-15% EBITDA margin FY30
  • 56% repeat customers

Why this matters

Bluestone's aggressive tier-II/III footprint expansion creates partnership openings for franchise operators, regional jewellers seeking exit, and supply-chain players, while pressuring competitors to accelerate their own small-city M&A or rollup strategies.