Gateway Distriparks plans land sale worth Rs 100 crore across two locations
In an interview with CNBC-TV18, Prem Kishan Gupta, Chairman and Managing Director of Gateway Distriparks spoke about company's growth prospects and strategic initiatives.
Gateway Distriparks is exploring opportunities to optimise its asset base and expand its capacity to cater to the increasing demand in the logistics sector. The company also aims to achieve substantial volume growth and bolster its operational capabilities.
In an interview with CNBC-TV18, Prem Kishan Gupta, Chairman and Managing Director of Gateway Distriparks, spoke about the company's growth prospects and strategic initiatives.
Talking about strategic asset optimisation, Gupta said that the company is exploring opportunities to sell approximately 50 acres of land across two locations. The potential sale is anticipated to generate revenue of about Rs 100 crore. By divesting non-core assets, the company aims to unlock value and utilize the proceeds to fuel its growth plans in the core logistics and transportation business.
“We have identified some parcels of land which we can give up whenever we find a buyer because we will not be requiring those parcels in the long run. So, we would like to sell those pieces of land and one of them we might sell this year,” he said.
In line with its ambitious growth trajectory, Gateway Distriparks has set its sights on expanding its operational capacity. The company plans to increase its capacity from the current 3.5 lakh twenty-foot equivalent units (TEUs) to an impressive 5 lakh TEUs by FY25.
“By FY25 we are aiming at half a million TEUs from the present 350,000 TEUs. So that will be more than 33 percent addition to last year’s volume,” said Gupta.
The company also reported earnings for the June-ended quarter. Their container freight stations (CFS) business has been dragged down further although rail revenues have surged 12 percent.
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