Titan Company’s jewellery business recorded 39% year-on-year growth in Q1FY27, supporting the company’s overall consumer-business growth of 41% during the April-June quarter. Domestic business grew 37%, while international business increased 128%.

The jewellery performance was supported by festive demand, Akshaya Tritiya and an improvement in buyer growth. Brokerages also noted stable jewellery margins and growth across Titan’s brands, including Tanishq, Mia, Zoya and CaratLane.

Titan added 77 stores during the quarter, taking its total retail network to 3,680 stores across its businesses. CaratLane also recorded 42% year-on-year sales growth, according to Nomura, exceeding its estimate of around 20%.

The growth came against elevated gold prices, which have affected jewellery affordability and consumer volumes across the market. Titan has been expanding its offering across price points, including lighter-weight jewellery and products in lower gold purities, while promoting old-gold exchange.

Brokerages remain positive on Titan’s jewellery outlook, citing buyer growth, premiumisation and operating leverage as factors that could support margins. Macquarie said the pickup in jewellery buyers provides a constructive outlook for subsequent quarters.

Titan has also outlined plans to double jewellery revenue by FY30 from FY26 levels, targeting around 20% annual revenue growth and increasing its domestic jewellery market share to 11% from 8.5%