Rajesh Exports Bags Rs 1,300-Cr Order From UAE Firm

Rajesh Exports Bags Rs 1,300-Cr Order From UAE Firm
New Delhi: Jewellery firm Rajesh Exports on Tuesday said the company has bagged an export order worth Rs 1,302 crore from a UAE-based company for gold and diamond-studded jewellery.

The Bangalore-based firm said that the order is to be completed by September, which will significantly add to its bottom line.

"Rajesh Exports has bagged an export order worth Rs 1,302 crores of designer range of gold and diamond studded jewellery and medallions from M/s Al Jameelat Jewellery, UAE," the company said in a regulatory filing.

In the quarter ended March 31, the company had reported a three-fold jump in net profit at Rs 205.5 crore.

It has a gold jewellery manufacturing facility at Bangalore, spread over 12 acres of land, with a capacity to process 250 tonnes of gold into jewellery.

Rajesh Exports also sells jewellery under the brand Shubh Jewellers and has 83 showrooms across the country.

As of 2:41 p.m., shares in Rajesh Exports were trading 3.14 per cent higher at Rs 235.20 apiece on the BSE.