Muthoot Exim Launches Gold Point Centre in Hyderabad

Hyderabad, 02nd July 2024 – Muthoot Exim (P) Ltd., the precious metal arm of business conglomerate Muthoot Pappachan Group (also known as Muthoot Blue), has announced the launch of its Gold Point Centre in Hyderabad, making it the second such facility in the state of Telangana and 24th in Ithe country. The Gold Point Centre is located at D. No. 2-10-27, First floor, Uppal Main Road, opposite Oculus Eye Hospital, Uppal, Medchal, Hyderabad – 500039. To provide customers with a trusted and credible centre to sell their gold ensuring a seamless process, Muthoot Gold Point Centre aims to ensure transparent, fair, precise and efficient selling and recycling of gold.

Since its inception in 2015 with the first Gold Point Centre in Coimbatore, Muthoot Exim has progressively expanded its footprint to cities like Mumbai, Bengaluru, Chennai, Delhi, Kolkata, Madurai, Vijayawada, Ernakulam, Trichy, Pune, and Hyderabad.

With this new branch, the company today has 24 Gold Point centres in India including two ‘Mobile Muthoot Gold Points’ (Mumbai & Bengaluru) which collect gold from the doorstep of the customers. Muthoot Exim, through its Gold Point Centres, buys old and used gold items directly from customers, which is later reprocessed, refined and supplied for domestic consumption.
The Gold Point offers customers a unique and efficient avenue to sell their gold while ensuring fair and precise valuation of gold. Customers can witness the entire valuation process first-hand and receive instant cash payments for gold valued up to Rs 20,000. For higher amounts, flexible payment options such as credit via IMPS, NEFT, or RTGS are available. The centre facilitates the direct purchase of old and used gold items from customers, subsequently reprocessing and refining them to supply refined bars for domestic consumption.

Commenting on the launch, Keyur Shah, CEO, of Muthoot Exim said, “Hyderabad has grown tremendously over the last few years and continues to be one of the leading metro cities in India. Expanding our presence in Telangana with more Gold Point Centres is essential to our business strategy. The opening of our second branch brings us closer to our customers in Hyderabad and reinforces our efforts to provide a unique, organized and industry-leading process of transparent gold testing and assessment, ensuring fair valuation.”

Thomas Muthoot, Executive Director, of Muthoot Pappachan Group & Managing Director, of Muthoot Exim said, “The expansion into Hyderabad represents a significant achievement for Muthoot Exim as we strive to increase market presence in the gold recycling sector of Telangana. We plan to extend our reach nationwide, establishing additional centres to serve our customers’ needs and meet the rising demand for retail gold while delivering exceptional service through our Gold Point Centres.”