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Agarwal Packers plans Rs 40 crore expansion
Agarwal Packers and Movers, a logistic and transport company from the city-based DRS Group, on Monday announced that it will invest Rs 40 crore in the current year, for expanding its fleet to a total of 600 trucks.
Hyderabad: Agarwal Packers and Movers, a logistic and transport company from the city-based DRS Group, on Monday announced that it will invest Rs 40 crore in the current year, for expanding its fleet to a total of 600 trucks.
The company said it will add 150 trucks to the already existing fleet of 450 trucks to take the count to 600 trucks. "This business is recession proof as the employees working in certain sectors get transferred, as part of their internal compliance.
In our relocation business, we are expecting a growth rate of 25 per cent during the current year," the CEO of Agarwal Packers and Movers, Anjani Kumar Agarwal said.
Agarwal further said it has 54 branches or transhipment hubs which are spread across the country and covers 1,200 locations. "The market size of relocation business in India is Rs 3,000 crore, which is growing at a rate of eight-10 per cent per annum.
We see major relocation business coming from metros and other major cities which would amount to 10 cities," he added.
The company said 80 per cent of business comes from relocation contributed largely by banking professionals, corporates, defence personnel, central government employees and multi-nationals.
