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Expect to demerge real estate biz in 5-6 months: TCI
Transport Corporation of India Ltd (TCI) announced on Wednesday that it's board has approved the demerger of its real estate & warehousing undertaking into a new company named TCI Developers Limited (TDL) which will be effective from April 1.
Transport Corporation of India Ltd (TCI) announced on Wednesday that it's board has approved the demerger of its real estate & warehousing undertaking into a new company named TCI Developers Limited (TDL) which will be effective from April 1.
In an interview with CNBC-TV18, Vineet Agarwal, Executive Director, Transport Corporation of India Ltd, spoke on the the real estate demerger and the company's results.
He said that the demerger will take another five-six months to complete. "We would list the demerged entity," he said adding, "Once the company is listed on the stock exchange, we expect significant investor interest."
The company's full-year level revenues were up 11.5% and the profit after tax (PAT) was up by 52%. Going forward, Agarwal said he expects, with the onset of monsoons, the volumes for the whole fiscal should be very good.
Below is a verbatim transcript of the interview. Also watch the video.
Q: You have got the nod from Sebi for the real estate demerger, by when do you think it can be affected?
A: We got the demerger approvals from NSE and BSE sometime last week, just around our board meeting time. We expect another 5-6 months from now because we are going to file it with the High Court of Andhra Pradesh by the end of this month. So within another 6 months we should see the complete demerger, where this new company will also get listed on the stock exchange.
Transport Corporation of India Ltd 
