mjunction services eyes 5-fold growth in 5 years

NEW DELHI: eCommerce company mjunction services, a joint venture between Tata Steel and SAIL, on Tuesday said it is targeting to achieve five-fold growth in the next five years through its existing six strategic business units.

The company, which unveiled 'Vision 2013', has set itself a target to generate a cumulative transaction value of Rs 50,000 crore by FY13 from its six existing business units through expansion in the domestic market and tapping opportunities in the global markets, it said in a statement here.

The six units mjunctio services include ofmetaljunction, coaljunction, buyjunction, autojunction, straightline and mjunctionedge.

"The company will also be looking at inorganic growth through strategic acquisitions. We will be driving our B2C businesses with an increased customer orientation since we believe that the time is right for the end consumers to experience the benefits of eCommerce in their daily lives," mjunction services founder and CEO Viresh Oberoi said in the statement.

The company has clocked a turnover of Rs 10,314 crore for FY08, it added.