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Properties may generate Rs 200-400cr revenue in 5 yrs: TCI
The Board of Directors of Transport Corporation of India approved the Scheme of Arrangement relating to the demerger of "Real Estate & Warehousing" division of the Company with effect from April 01, 2010, subject to the requisite approvals.
The Board of Directors of Transport Corporation of India approved the Scheme of Arrangement relating to the demerger of "Real Estate & Warehousing" division of the Company with effect from April 01, 2010, subject to the requisite approvals.
In an exclusive interview with CNBC-TV18, Vineet Aggarwal, ED, Transport Corporation of India (TCI), spoke about the latest happenings in his company and sector.
Here is a verbatim transcript of the exclusive interview with Vineet Aggarwal on CNBC-TV18. Also watch the accompanying video.
Q: Could you take us through what TCI Developers will have eventually and what is the plan there, just to see what the business upside to shareholders could be?
A: In the last fifty-two years of our existence in the basic logistics business, we have also acquired a lot of properties for the need of the business. But some of these properties have come into the city centers and we cannot use them for logistics purposes anymore. So what we have done is that we have put these into a separate vehicle and we want to develop them commercially be it for residential, be it for any commercial projects etc. Simultaneously we also want to develop certain large logistics projects like multimodal parks or free trade warehousing zones or truck terminals etc. So we think that this vehicle will be focused in a strategic vehicle where we can go ahead and actually develop these properties as well as develop the large scale infrastructure properties that we have been talking about.
In an exclusive interview with CNBC-TV18, Vineet Aggarwal, ED, Transport Corporation of India (TCI), spoke about the latest happenings in his company and sector.
