DTDC to enter warehousing biz
DTDC to venture into the Rs 5,000 crore domestic warehousing sector.
By PTI |
MUMBAI: Private courier firm DTDC on Wednesday indicated it may dilute equity to a global logistics player, with whom it can venture into the Rs 5,000 crore domestic warehousing sector.
The company had offloaded 40 per cent stake to ADA Group last year.
"We can think of further dilution of stake in the company provided we get a strategic partner who is having similar interest in the business of supply-chain logistics," DTDC Chairman and Managing Director Subhasis Chakraborty told PTI.
The second largest player in the domestic courier industry is planning foray into the warehousing business to cash in on the burgeoning retail sector.
"The business will take proper shape from the last quarter of the current fiscal and the commercial activity will start from the next financial year."
He said in the first year of operation itself the company would target to generate Rs 25 crore revenue. DTDC expects to record a turnover of Rs 200 crore this year from Rs 166 crore in the last fiscal.
"Many international freight and logistics players are talking to us to partner us in our proposed warehousing venture. Currently, we are evaluating their proposals. No concrete decision, however, has been taken yet."
Stating the retail sector was the next big thing in the country requiring massive warehousing and supply-chain facilities, Chakraborty said DTDC was looking to be a major player in this field.
The company had offloaded 40 per cent stake to ADA Group last year.
"We can think of further dilution of stake in the company provided we get a strategic partner who is having similar interest in the business of supply-chain logistics," DTDC Chairman and Managing Director Subhasis Chakraborty told PTI.
The second largest player in the domestic courier industry is planning foray into the warehousing business to cash in on the burgeoning retail sector.
"The business will take proper shape from the last quarter of the current fiscal and the commercial activity will start from the next financial year."
He said in the first year of operation itself the company would target to generate Rs 25 crore revenue. DTDC expects to record a turnover of Rs 200 crore this year from Rs 166 crore in the last fiscal.
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"Many international freight and logistics players are talking to us to partner us in our proposed warehousing venture. Currently, we are evaluating their proposals. No concrete decision, however, has been taken yet."
Stating the retail sector was the next big thing in the country requiring massive warehousing and supply-chain facilities, Chakraborty said DTDC was looking to be a major player in this field.
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