Rajesh Exports revenue may fall by 8 pc on Dubai crisis

"Around 45 per cent of our revenues come from Duabi. If the on-going financial crisis in Dubai converts into a full-grown one, our topline may shrink by seven to eight per cent," Rajesh Exports chairman Rajesh Mehta told PTI.
Mehta said that the company is trageting to achieve a turnover of around Rs 14,000-15,000 crore in the current fiscal, against Rs 12,341 crore in the fiscal ended March 31.
"However, if the crisis continues over to the next fiscal, our topline might get squeezed by around 15 per cent. We had anticipated Rs 16-17,000 crore turnover in the next fiscal," Mehta said.
Claiming that the crisis might not have much impact on the private players in Dubai, barring those dealing in real estate, Mehta said that Rajesh Exports did not see any danger of payment defaults from Dubai.
"However, we will be very cautious to deal with Dubai from now on and may reduce our business a little bit in that country," he said, adding his company does not deal with any government agency in Dubai.