Diamond Rings

Greatest Collection of Diamonds and other Jewelry

– DTC Sightholder Shrenuj & Company Limited announced revenues of $377.13 million and an after tax profit of $9.64 million in the April-December 2010 period. This is a growth of 34 percent and 18 percent, respectively for the first three quarters of the Indian fiscal year.

The company witnessed a growth in revenue from all key gems and jewelry markets, including the U.S. in the most recent quarter. It noted that volume growth was encouraging despite the rising prices of precious metals.

Shrenujs revenues from retail and branded jewelry operations have recorded a 73 percent growth for the period, rising to $27.1 million.

According to group executive director Vishal Doshi, Shrenuj has a presence in 23 metros and Tier-A cities in India, reaching over two-thirds of the firms target audience. By the end of the year, he said, Shrenuj expected to be present in 29 cities, increasing its reach to over 85 percent of its target consumer segment. He noted that India and Hong Kong, both key markets for the firms retail operations, continue to record impressive growth.

We expect a double digit growth in the diamond and jewelry market worldwide, said Chairman and Managing Director Shreyas Doshi.

He added that by the end February they are commissioning a new jewelry manufacturing facility in Botswana. This unit will also gain from the tax advantage enjoyed by Botswana-based units for export to U.S. markets. We also continue to improve the throughput of our existing units through technological and skill upgradations.