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A Jeweler Chosen by the World’s Richest Man

In the early 1920s, a young gem trader named Sri Tibarumal Gupta set up a jewelry house in Hyderabad — a city that, at the time, sat at the center of one of the most extraordinary concentrations of wealth anywhere on earth. The Nizam of Hyderabad, Mir Osman Ali Khan, was reportedly the wealthiest individual in the world in the 1930s, with a personal collection that included the 184.5-carat Jacob Diamond, which he reportedly used as a paperweight after finding it tucked in his father’s shoe at Chowmahalla Palace.

Tibarumal didn’t just sell to this court — he became its trusted jeweler. His eye for exceptional stones and his commitment to craftsmanship earned him a reputation that spread quickly through the city’s elite. Serving the house of the Nizam gave Tibarumal Jewellers a distinct edge in understanding refined royal tastes, and it inspired the firm to explore how craftsmanship and design could evolve with greater richness over time.

That relationship — between a jeweler with integrity and a patron with exacting standards — set the tone for everything that followed.

Three Generations, One Standard

When Sri Tibarumal passed the mantle to his son Ram Bharos Gupta, the business didn’t simply continue — it expanded. Ram Bharos took the firm’s reputation beyond the royal court and into post-independence Hyderabad’s new elite. The first store opened near the iconic Charminar, in the heart of the city’s historic trading district. Under his leadership, the name Tibarumal became synonymous with authenticity, elegance, and unmatched quality.

Then came the third generation. Pankaj Gupta inherited not just a business but a philosophy — that jewelry is, at its core, a form of art that demands personal involvement. He blended traditional and contemporary design, creating pieces that worked equally well for Marwari, Telugu, Gujarati, and Sindhi customers across Hyderabad’s culturally layered population. His creative direction continued producing handcrafted jewelry while introducing modern design sensibilities, and he launched Tiraa by Tibarumal Jewels as a flagship boutique to reflect that evolution.

But Pankaj also understood something that many heritage houses resist: the world changes, and a jeweler who refuses to change with it eventually becomes a museum exhibit rather than a living brand. So when his son Trishank came of age, the family made a decision that would define the next hundred years.

Why a Century-Old House Chose Lab Grown Diamonds

The launch of Elevé Diamonds in 2025 wasn’t a pivot born of panic. It was a deliberate, considered move by a family that had spent a century reading what customers actually want — and recognizing that what they want is shifting.

The numbers tell part of the story. India’s lab grown diamond jewelry market is valued at approximately USD 453.7 million in 2026 and is projected to reach USD 1,798.6 million by 2036, growing at a 14.8% CAGR. Globally, the market sits at around USD 33.54 billion in 2026. In India specifically, younger buyers are choosing lab grown diamonds for value and design flexibility, and bridal jewelry demand is improving as larger stones become more affordable. In FY 2025–26, India’s lab grown diamond exports overtook natural diamond exports by volume — a milestone that would have seemed improbable a decade ago.

But Tibarumal’s entry into this space wasn’t just about market timing. It was about values. Elevé’s product strategy is rooted in ethical, above-ground CVD-grown diamonds, precision-cut and IGI-certified, set in jewelry handcrafted by artisans trained in Tibarumal’s lineage. The soul of the craftsmanship remains human and heritage-driven, even as the diamonds themselves come from modern technology. Each piece is handcrafted — no mass production, no factory duplicates.

Led by fourth-generation scion Trishank Gupta alongside Prajay Maganlal, Elevé represents Tibarumal’s evolution from a heritage label into a contemporary brand with global ambitions. Design direction continues to be shaped by Pankaj Gupta, whose signature aesthetic runs through every Elevé collection.

The Charminar Collection and What It Means

One of Elevé’s early collections is called the Nizam Line — inspired by the royal motifs that Tibarumal’s founder once crafted for the court itself. There’s something quietly deliberate about that choice. A family that once made jewelry for the Nizam now makes jewelry inspired by that legacy, but accessible to anyone who walks through the door.

The brand also launched a Charminar Collection, a tribute to Hyderabad’s architectural identity, designed by Pankaj Gupta. Each piece in that collection reflects the city’s layered cultural history through intricate, locally inspired design. A portion of proceeds supports initiatives including Beti Bachao, Beti Padhao and artisan welfare programs — a social commitment that mirrors the family’s long-standing belief that business and community aren’t separate things.

This is probably what separates Elevé from most lab grown diamond brands entering the Indian market right now. Many are well-funded startups with strong branding but shallow roots. Elevé carries over a century of gemological knowledge, a direct lineage to the craftsmen who set stones for royalty, and a founder family that has never treated jewelry as a commodity. Backed by more than 100 years of trust from Tibarumal Jewels, Elevé Diamonds is positioned as the beginning of a refined, responsible new era in fine jewelry.

For Hyderabad customers specifically, that provenance matters. This is a city that grew up with the stories of the Nizam’s jewels — a collection so vast that diamonds, rubies, sapphires and pearls were reportedly stored in steel trunks. The idea that the family who served that court is now bringing ethical, IGI-certified diamonds to everyday buyers carries a certain poetic weight.

What This Means for Diamond Buyers in Hyderabad Today

If you’re shopping for a diamond engagement ring or a diamond necklace in Hyderabad in 2026, the landscape looks very different from what it did five years ago. Lab grown diamonds are chemically, physically, and optically identical to mined diamonds. The difference is in how they’re made — grown above ground using CVD technology, without the environmental and human costs associated with mining.

The practical implication is that you get a larger, higher-quality stone for the same budget. A two-carat IGI-certified lab grown diamond from Elevé costs a fraction of what a mined equivalent would. The certification is identical. The brilliance is identical. The craftsmanship, in Elevé’s case, is arguably superior — because every piece is handmade by artisans who trained within the Tibarumal tradition.

Elevé has opened flagship stores in Kokapet, Kompally, and Warangal, with further expansion planned across Banjara Hills, Coimbatore, and eventually the United States. For those who prefer to browse first, the full collection is available online at elevediamonds.com, where you can explore everything from everyday diamond earrings to statement pendants.

The brand also offers the Elevé Circle — a membership program built around exclusive previews, anniversary reminders, and stone upgrade options. It’s a modern loyalty structure, but the instinct behind it is old: the same instinct that made Sri Tibarumal Gupta the preferred jeweler of a king. Build trust. Earn it slowly. Keep it forever.

Some things about good jewelry don’t change, even across a century.