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Rajesh Exports bags Rs 786 cr order from UAE

Press Trust of India  |  New Delhi 

Rajesh Exports, the world's largest gold jewellery maker, today said it has bagged a contract worth Rs 786 crore from UAE to export gold and diamond jewellery and medallions.

In a filing to the BSE, Rajesh Exports Ltd said that it has "bagged an export order worth Rs 786 crore of designer range of gold and diamond studded jewellery and medallions from UAE". The order is to be completed by October 15.

This order would be executed at its manufacturing facility at Bengaluru. The facility has an installed capacity to process 250 tonnes of jewellery and gold products per annum.

Rajesh Exports said that the demand for Indian jewellery and gold products in the foreign markets has been growing rapidly.

The company, which was established in 1989, is the largest processor of gold in the world. It has presence across the value chain of gold from mining to retail brand. It is also the world's largest refiner of gold.

With the recent acquisition of Valcambi, the world's largest gold refinery based in Switzerland, the company has built up a total capacity to refine 2,400 tonnes of precious metals per annum, the filing said.

Rajesh Exports has set up 80 retail jewellery showrooms under the brand SHUBH Jewellers.

The company's share price rose by 2.96 per cent to close at Rs 462.55 apiece on the BSE.

First Published: Thu, July 14 2016. 17:07 IST