Saurabh Gadgil, chairman and managing director of PN Gadgil Jewellers, has officially entered India’s billionaires’ club following the company’s recent stock market debut. A sixth-generation entrepreneur based in Pune, Gadgil’s wealth has surged to nearly $1.1 billion, as per the Bloomberg Billionaires Index. Since its listing, PN Gadgil Jewellers’ stock has climbed by 61%.
Gadgil, a former national-level chess player, attributes his strategic foresight to his chess background. On his LinkedIn profile, he notes, “As a former national level chess player, thinking thirty moves ahead in life has become something of a habit for me… This habit of mine started coming in handy particularly back in 1998 – when I took over the reins of the PNG Jewellers family business.”
In the fiscal year 2023-24, Gadgil, his wife Radhika, and two other family members collectively earned 272.4 million rupees ($3.2 million) in compensation.
After completing his B.Com degree from Brihan Maharashtra College of Commerce in Pune, Gadgil pursued an MBA from Symbiosis University. During his time at Symbiosis, he completed an internship at the Reserve Bank of India (RBI).
Founded in 1832 by Ganesh Narayan Gadgil, who initially sold gold ornaments on the streets of Sangli, Maharashtra, PN Gadgil Jewellers has grown significantly. Today, its products are primarily marketed under its main brand “PNG” and various sub-brands, distributed through 39 retail stores and online platforms as of July 31, 2024.
