“We were online-only for the first six or seven years. Then we realised that online lets customers explore designs, but for conversions, stores still work very well. That’s how we became one of the two truly omnichannel players in this category,” Kushwaha told ET, adding that its stores generally turn profitable within two to three months of operation.
At the end of the June quarter, the company’s store count stood at 352, up from 340 stores it had at FY26 end. Bluestone plans to reach 700-800 stores and Rs 12,000 crore in revenue in the next four years.
On Monday, the Bengaluru-based company reported a 70% year-on-year (YoY) growth in its operating revenue to Rs 737 crore in the June quarter of FY27, up from Rs 493 crore reported in the same period last year. Kushwaha attributed this growth to strong same-store sales growth (SSSG) of 39% YoY.
Its net profit stood at Rs 6 crore in June, compared to a net loss of Rs 34.8 crore reported a year ago. However, on a sequential basis, its net profit dropped by about 80% from the Rs 31 crore clocked in the March quarter.
Bluestone’s shares hit the 20% upper circuit at Rs 732.45 on Tuesday on the NSE after it posted its third consecutive quarter of net profit.