'Modali Gems Pvt Ltd' is Gitanjali Gems new JV company
New Delhi, Nov 6 (UNI) Jewellery firm Gitanjali Gems Ltd today said its joint venture (JV) company 'Modali Distributors Pvt Ltd' will now be known as 'Modali Gems Pvt Ltd'.
The JV company is engaged in the business of distributionship, primarily of jewellery and jewellery-related products, a company statement said.
The company plans to invest Rs 100 crore over two years for its domestic retail plans. It is in the process of establishing luxury malls and introducing international brands in the country.
Gitanjali
Gems
reported
a
56
per
cent
increase
in
net
profit
at
Rs
40.8
crore
for
the
quarter
ended
September
30,
2007.
The
company's
consolidated
revenues
grew
by
56
per
cent
to
Rs
1,132
crore
as
against
Rs
738.8
crore
in
the
same
period
last
year
UNI