The Hindu : Andhra Pradesh / Hyderabad News : Kotak Mahindra Bank to invest in DRS Logistics

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Friday, Mar 23, 2007
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Kotak Mahindra Bank to invest in DRS Logistics

Special Correspondent

Plan to expand to Rs.1,050-crore company by 2010

HYDERABAD: Kotak Mahindra Bank's private equity group will be investing Rs.100 crores in DRS Logistics Pvt. Ltd, a Hyderabad-based logistics and transportation company.

Addressing a press conference here on Thursday, DRS Group Director Anjani Kumar Agarwal said that the company, which began with just one tempo traveller in 1986, grew to become Rs. 200-crore company with 122 offices and 40 locations across the country.

Growth rate

It envisaged a plan to expand to Rs.1,050-crore company by 2010, considering the growth rate of the transportation and logistics industry at a rate of 40 per cent a year.

The company proposed to go for an initial public offering in about three years to mop up funds for its future expansion plans.

The company proposed to open offices in all the 602 districts in the country.

Mr. Agarwal said that the company was concentrating on 3PL (third party logistics). It proposed to create a floor space of 1.5 million square feet in different places.

It already had 3.5 lakh square feet of warehouse facility across the country.

Air cargo services

The company had applied to the Director-General of Civil Aviation for permission to launch air cargo services. While the company gained foothold in five of the eight areas in which the 3PLs operated, it would expand into other areas by next year.

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