Demerged from P. N. Gadgil & Sons in January 2025, Reva reported FY25 revenue of ₹258.2 crore, up 32% year-on-year, while net profit rose 40% to ₹59.5 crore. Maharashtra’s homegrown, PNGS Reva Diamond Jewellery’s ₹380-crore initial public offering (IPO), opening February 24–26, will test whether a strong statewide franchise can evolve into a scalable national diamond jewellery brand.