DRS eyeing air cargo sector too

Mumbai: Strike when the iron is hot. The Hyderabad-based logistics company DRS Group is all set to strike when the country is witnessing logistics boom fuelled by retail revolution.
It is looking at acquisitions to establish its presence in all logistics verticals rather than going for an organic expansion, which will take at least two years.
For instance, the group is in talks with various small and medium courier companies for a possible acquisition to enter the courier space.
DRS recently acquired two small road transport companies, Srinivasa Logistics and Dilip Road Lines, and has a fleet of 650 container vehicles.
A Rs 200 crore company now, it is currently busy with brand building and aims to go international this year.
The group has also applied with Director General of Civil Aviation (DGCA) for the licence to operate cargo aircraft.
Agarwal Packers & Movers, leading package transportation brand, is operated by DRS Group.
Recently, Kotak Mahindra Bank's private equity arm, Kotak Private Equity Group, has invested Rs 100 crore in DRS Logistics.
28/05/07 PR Sanjai/Business Standard

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Categories: Cargo May 2007, New May 2007