Rajesh Exports bags order worth Rs 1,300 cr from UAE firm

Firm says order is for supply of gold- and diamond-studded jewellery and has to be completed by September

Jewellery firm Rajesh Exports today said the company has bagged an export order worth Rs 1,302 crore from an 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 bottomline.

"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 threefold jump in net profit at Rs 205.5 crore.

It has 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.