Gati going slow on Rs 1.5 bn expansion plan- MD

Logistics firm Gati Ltd is going slow on its expansion plans of Rs 1.5 billion in the year to June as economic activity slows.

Nov 18, 2008, 11.33 AM IST

NEW DELHI: Logistics firm Gati Ltd is going slow on its expansion plans of Rs 1.5 billion in the year to June as economic activity slows, its managing director said on Tuesday.

"We may go a little slow in the short term...we have 2 million square feet of warehouses now, we had planned 2.5 million square feet by June, some may come a couple of months later," Mahendra Agarwal told reporters.

He said on the sidelines of the India Economic Summit that he expects a 20 per cent sales growth in the December and March quarters and would raise prices by January to ease margin pressures.

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