MP Ahammed, Chairman, Malabar Group:
“This festive period has been a great one for us at Malabar Gold & Diamonds, as we recorded an impressive turnover of ₹3,484 crore this Diwali, marking a notable 30% rise over last year’s ₹2,680 crore. This growth reflects the resurgence of demand in the Indian jewellery market, fueled by robust consumer sentiment and a two-day Dhanteras muhurat that allowed a larger window for buyers. The gold sector nationwide saw record-breaking sales as well, with estimates suggesting transactions totaling up to 39 tonnes, or nearly ₹19,500 crore, driven by favorable monsoon conditions, rising gold prices, and increasing consumer preference for gold as a stable asset. We are pleased to see such enthusiastic customer participation and remain committed to offering them both quality and value.
The Diwali offers, valid until November 3rd, 2024, include gold coins for purchases starting from Rs. 50,000: buyers of gold jewellery receive 200 mg, those purchasing Precious, Uncut, and Polki jewellery get 300 mg, and diamond jewellery buyers receive 400 mg gold coins. Customers can also get upto Rs. 5000 instant discount on purchases above Rs. 75,000 on HDFC Credit cards.”
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