Saurabh Gadgil of PN Gadgil Jewellers Joins India’s Billionaires’ Club

Saurabh Gadgil, the chairman and managing director of PN Gadgil Jewellers, has recently joined India’s billionaires’ club after the company’s successful market debut last month. The sixth-generation businessman, based in Pune, has seen his net worth soar to almost $1.1 billion since the IPO, according to the Bloomberg Billionaires Index.

Gadgil, 47, is not only a successful businessman but also a former national level chess player. His strategic thinking and ability to plan ahead have been key factors in the growth and success of PN Gadgil Jewellers. In fact, he credits his habit of thinking thirty moves ahead in life to his success in both chess and business.

Before taking over the family business in 1998, Gadgil did an internship at the Reserve Bank of India (RBI) during his MBA studies at Symbiosis University in Pune. This experience gave him valuable insights into the gold market and global trends, which have been instrumental in shaping the company’s growth strategy.

PN Gadgil Jewellers, founded in 1832, has a rich history of selling gold ornaments and jewelry. The company’s products are primarily sold under its flagship brand, “PNG”, through retail stores and online marketplaces. With 39 retail stores and a strong online presence, the company has been able to reach a wide customer base and drive significant growth in recent years.

In the fiscal year 2023-24, Saurabh Gadgil, along with his wife Radhika and two other family members, collectively took home 272.4 million rupees ($3.2 million) in remuneration, highlighting the company’s success and profitability. With the share price of PN Gadgil Jewellers rising 61% since the IPO, Gadgil’s entry into the billionaires’ club is a testament to his leadership and vision for the company’s future.