Rajesh Exports, the largest gold exporter in the world, under the leadership of owner Rajesh Mehta and MD Prashant Mehta, has secured a new export order. The order is from the Middle East and is worth Rs 892 crore.
In a regulatory filing, the company said that the order has to be finished by September 2018.
“The order has its special significance for the acceptance of the new range of jewelry introduced by the company in the global market,” the company spokesperson said.
Rajesh Exports will manufacture the order at its own facility. The Rajesh Mehta led company is confident of delivering the project in the allotted time, the company mentioned.
The company, headquartered in Bangalore, has a hold on more than 35 per cent of the global gold trade. Under Rajesh Mehta’s able guidance, it is present in all the sectors of the jewelry industry.
From manufacturing to retailing, Rajesh Exports has a global network involving exports, wholesale and retailing. Their retail store, Shubh Jewellers has more than 80 outlets in the state of Karnataka.
With rate per gram policy and no ‘making charges’, the stores offer exceptional designs to the buyers. Looking at the stability that the gold market has finally achieved after a sabbatical, Rajesh Exports MD believes that this is the right time to expand their business.
The gold manufacturer is planning on increasing their retail presence pan India, and across the world. Also, gold vending machines will be installed at airports where passengers can buy duty free gold bars of different weights.
Another major achievement that Rajesh Exports registered was the acquiring of Valcambi, the largest gold refiner in Switzerland. This made the world’s topmost gold regulator the largest refiner based in Switzerland. Also, it enabled the company to get raw materials at rate cheaper than the other players in the market. With two refineries located in Uttarakhand and Balerna in Switzerland, the total gold refining capacity of the company is 2,400 tonne per annum.
Using it to their advantage, the company brought in the aforementioned policies of rate per gram and no making charges in their Shubh Jewellers retail stores. With Rajesh Mehta’s business acumen and Prashant Mehta’s managerial skills, the company has been scaling heights.