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To jet set its top executives across nations, Kerala-based Kalyan Jewellers is acquiring another aircraft, an Embraer Legacy 650 executive jet.
The buy puts billionaire TS Kalayanaraman on the elite list of Legacy 650 owners, which includes Hollywood actor Jackie Chan, British business magnate Alan Sugar and HCL Technologies founder Shiv Nadar.
The 13-seater Brazilian aircraft comes with a ₹175-crore price tag. The custom-fitted plane sports a conference room, onboard WiFi, telephones and in-flight entertainment systems, among other facilities.
The country’s largest jewellery retailer expects to cut travel time for family members and officials visiting its 61 showrooms in India and abroad.
“This is a larger aircraft in comparison with the other Embraer the company owns; this is a long-range aircraft. The present one is used for short journeys, and the new buy is a necessity, not a luxury,” said a source.
The retailer placed an order with Embraer early this month.
It will take another 18 months for the delivery. Kalyan Jewellers’ Executive Director Ramesh Kalyanaraman declined to comment.
Incidentally, Kalyan Jewellers’ Chairman and Managing Director TS Kalayanaraman was the first to own a a private jet in Kerala, when he acquired a 7-seater Embraer Phenom in 2012 for ₹30 crore. Last year, he acquired a Canadian Bell 427 helicopter for ₹48 crore.
In India, there are about 253 jets and helicopters in the private category, said Rajeev Wadhwa, Chairman & CEO, Baron Luxury & Lifestyles.
Mega expansion plansKalyan Jewellers will set up shop in Delhi, opening three showrooms next month, and closing the financial year with 61 showrooms.
In FY15, it intends to set up 19 showrooms – nine abroad and 10 in India – with a ₹1,000-crore investment.
“These would mostly be across the Gulf region, in Kuwait and Dubai.
We are also venturing into Qatar and Bahrain. In India, we will open showrooms in Ahmedabad, Pune, Kolkata and Jalandhar among others places,” said Ramesh Kalyanaraman, confirming the development.
Kalyan Jewellers, which entered the jewellery retailing business in 1993, will invest about ₹40-50 crore per showroom.
The unlisted company expects to close this year with a ₹9,400-crore turnover, and ₹15,000 crore next year.
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