DTDC Express looks to invest at least Rs 100 cr in infra, tech development this fiscal
DTDC Express looks to invest at least Rs 100 crore in infrastructure and technology development, among others, this fiscal amid a brighter business outlook, the company's chairman and managing director Subhasish Chakraborty has said.
Mumbai: DTDC Express looks to invest at least Rs 100 crore in infrastructure and technology development, among others, this fiscal amid a brighter business outlook, the company's chairman and managing director Subhasish Chakraborty has said.
He said the company is also expecting 30 per cent growth in total shipments handling this festive season (October-November) as compared to September. The integrated express logistics operator, which has a presence in both domestic and international markets, offers a range of services including premium express, express parcel, e-commerce b2c as well as warehousing business. "Our investment is happening on infrastructure, technology (upgrade) development as well as building technology team.
And this investment, possibly, will not be less than Rs 100 crore this year," Chakraborty told PTI in an interaction. The logistics sector is growing very strongly and is seeing much better and higher growth than the domestic economy, he said. "I am quite sure that with the kind of integrations happening in the sector and the way customer requirements are increasing with e-commerce, it (logistics sector) has a fantastic future going forward. He said that the overall growth for the company last fiscal stood at 23 per cent with both domestic and international business doing well, and added that international business in the last two years has grown at a faster pace than the domestic business.
Stating that in the first two quarters, the company has logged 16 per cent over the same period of FY23, Chakraborty said that the growth trajectory is moving up on a sequential basis. In the international business, the cross-border e-commerce, which the company commenced only last year, is seeing 100 per cent growth month-on-month on a low base, he said. The company currently has a fleet of 4000 trucks and it is looking to expand it by another 500 plus vehicles by this fiscal, Chakraborty said. DTDC handles over 12 million shipments per month through its over 580 operating facilities with 2.21 million sq ft of space under its management, according to the company's website.
