A major Indian jewellery store says that it has recorded strong profits on the back of improving platinum sales.

Tanishq, a division of Titan Industries, said that it was anticipating turnover breaking the Rs 600 crore mark this year, laying claim to be "the biggest jewellery brand in the country".

General manager V Govind Raj told Business Standard: "At present, Tanishq has 70 showrooms, spread across 54 cities in the country.

"We have charted out a major expansion plan, and intend to open 30 to 40 more outlets in the coming months.

"We have identified several cities, having a population of five lakh and above, which would be our next destination. Our aim is to have at least 100 outlets in the near future."

One of the key tenets of this success was the performance of platinum and diamonds, as Mr Raj explained.

"The demand for branded diamond jewellery is growing at a much faster rate compared with gold jewellery. The demand for branded platinum jewellery is also increasing. We have got good response from customers all these years, and we are confident it would get better in coming years," he commented.

Demand for platinum jewellery in India has been on an upward curve in recent years, with Platinum Guild International reporting a twofold increase in 2003 as it hit 600 kgs in 2003.

Women aged 25-45 years are said to be the main drivers behind the growth.