Mangalore, August 26: The new branch of Lakshmi Gold Palace, a unit of Lakshmi Gold Khazana Pvt Ltd, was launched on Saturday at K S Rao Road, Mangalore.
Inaugurating the outlet, Rajya Sabha member Oscar Fernandes congratulated the proprietor of Lakshmi Gold Palace K P Nanjundi, who is also president of Vishwakarma Samaj.
He said that with launching new outlet in coastal city of Lakshmi Gold Palace also created many job opportunities for the youth.
Deputy Speaker of Karnataka Legislative Assembly N Yogish Bhat, Mangalore MLA U T Khader, Mulki-Moodbidri MLA Abhayachandra Jain, Mangalore North MLA Krishna Palemar, Former MP Vinay Kumar Sorake, Corporation bank chairman Ajaykumar and businessman Ganesh Shetty were present among others.
Earlier, K P Nanjundi, informed that it was the fifth branch of the company. In six years, 18 branches will be set up in the State in places like Hubli, Mysore, Mandya, Belgaum, Dharwad, Gadag and Hassan. Two branches in Domlur (Bangalore) and Dharwad are already in the stage of construction and will be ready by December. Over 600 crores of revenue is generated per annum, he said.
He said that he would offer customers in Mangalore Rs. 60 discount per gram of gold. “I will offer lesser rates than the ones that are currently being offered in the existing shops. My only aim is to make it easier for the middle and lower class people to acquire Hallmarked jewellery,” he said.
According to Mr. Nanjundi, the new branch will have three sections – Lakshmi Gold Palace, Silk Palace and Gold Loan. It will be inaugurated by Oscar Fernandes, Rajya Sabha MP, at 12 p.m. at No. 1507/1, K.S. Rao Road, Kodialbail, Mangalore. Dr. G. Parameshwar, President of Karnataka Pradesh Congress Committee, will be the chief guest on the occasion.
There will be around 15,000 sarees on display in the Silk saree section, and gold loans will be provided at 1.25 – 1.75 per cent rate of interest. There is also a facility for customers to have their gold weighed and evaluated, he said.
All employees including the Chief Manager of the branch are from Mangalore, he added.
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