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Khanna Gems to invest Rs 50cr to set up bullion factory

Press Trust of India  |  New Delhi 

will invest about Rs 50 crore to set up a for in the national capital as it seeks to enter in gold and silver coins, a top said.

The city-based company, which posted a turnover of Rs 100 crore in 2017-18, sells gemstones and diamond both in the domestic and overseas markets.

"We are entering into business. We will sell gold and in view of huge demand. We are going to esablish a factory at Najafgarh here," told

The company has already taken the land on a long-term lease to set up the factory, he said, adding that the investment demand for is rising especially during the festival season.

Asked about the investment, Khanna said: "Total cost would be Rs 50 crore including basic infrastructure, bullion and branding."

The investment will be funded through internal accruals and sale of its equity, he added.

The new facility will be operational before 'Akshay Tritiya' in mid-2019. It will import machine to manufacture in volumes and ensure accurate weighage of coins.

Khanna said the company had generated a business of Rs 100 crore during the last fiscal, of which 50 per cent came from exports. Bulk of its turnover comes from sale of gemstones.

Khanna Gems, set up in 1997, is a and sells gemstones with an appropriate government lab certificate both online and offline mode.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, November 04 2018. 12:15 IST