Safexpress aims Rs 1,000 cr turnover in 3 years
Logistics co Safexpress to expand operation and strengthen supply chain. Targets a turnover of Rs 1000cr in 3 years.
By PTI |
NEW DELHI: Logistics solutions provider Safexpress on Monday said it aims to earn a turnover of Rs 1,000 crore in next three years as the company plans to expand its operation and strengthen supply chain infrastructure.
"Growing at a rate of 40 per cent, we are targeting Rs 1,000 crore turnover by 2010 from Rs 500 crore currently. We are also making investment in building warehouses in 32 different cities across India for which we have started buying land and construction has begun at some sites," Safexpress Chairman and Managing Director Pawan Jain said on the sidelines of a FICCI event on supply chain.
He said the company would invest Rs 550 crore for building warehouses with seven million sq ft of space. "It will be developed over 1,000 acres of land in next three years."
He informed that the consolidation of land would take place in the next three months.
On funding, Jain said, 40 per cent of the cost would be made through internal accruals while the remaining would be supported by debt.
The company manages supply chain infrastructure, like warehousing and logistics across eight industry verticals, which include FMCG, pharma, auto, books and periodicals, apparels and other lifestyle products.
In apparel segment, the company caters to around 85 clients, including the likes of Levi's, Marks & Spencer, Arvind Mills, Madura Garments, Globus and others.
Safexpress has a presence in 550 locations, spread across 28 states 7 union territories. It has warehousing space exceeding three million sq ft.
"Growing at a rate of 40 per cent, we are targeting Rs 1,000 crore turnover by 2010 from Rs 500 crore currently. We are also making investment in building warehouses in 32 different cities across India for which we have started buying land and construction has begun at some sites," Safexpress Chairman and Managing Director Pawan Jain said on the sidelines of a FICCI event on supply chain.
He said the company would invest Rs 550 crore for building warehouses with seven million sq ft of space. "It will be developed over 1,000 acres of land in next three years."
He informed that the consolidation of land would take place in the next three months.
On funding, Jain said, 40 per cent of the cost would be made through internal accruals while the remaining would be supported by debt.
The company manages supply chain infrastructure, like warehousing and logistics across eight industry verticals, which include FMCG, pharma, auto, books and periodicals, apparels and other lifestyle products.
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In apparel segment, the company caters to around 85 clients, including the likes of Levi's, Marks & Spencer, Arvind Mills, Madura Garments, Globus and others.
Safexpress has a presence in 550 locations, spread across 28 states 7 union territories. It has warehousing space exceeding three million sq ft.
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