Our Bureau

Mumbai, March 16

RAJESH Exports Ltd announced today that it has received an order for Rs 132 crore from Excel Goldsmiths, a UAE-based company, for the export of 22-carat designer jewellery.

As per the terms of the contract, the order has to be executed over a period of four months.

"This order is the second big win for the company in this quarter, coming close on the heels of another major order worth Rs 146 crore from Gold Star Jeweller Pvt Ltd of Singapore last month," said Rajesh Exports in a notice to the BSE.

"Traditionally, West Asia has been a major consumer of Indian-made designer jewellery, and we enjoy a strong presence there. Investments in R&D have started paying rich dividends by substantially lowering costs without compromising on quality," the company said, quoting Mr Rajesh Mehta, Chairman.

(This article was published in the Business Line print edition dated March 17, 2005)
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