Mumbai: Logistics major DTDC Courier and Cargo has acquired 53% stake in UAE-based Eurostar Express for an undisclosed amount.
"The acquisition allows DTDC to combine its strength with Eurostar and penetrate and consolidate its presence all over the West Asia, including GCC and MENA areas, more comprehensively," said Suresh Bansal, director and head of international business, DTDC.
DTDC's move to invest in a global company comes at a time when foreign companies are largely investing in firms in India. In recent times, logistics giant Fedex bought out Mumbai-based AFL Freight and private equity players have been investing in logistics players in the country.
The acquisition will enable the Bangalore-based company access to the robust infrastructure and quality delivery capabilities in Dubai and Abu Dhabi, he said.
Eurostar group will hold 33% in Eurostar Express. Anil Ambani's Reliance Capital holds 44% stake in DTDC.
Success in my Habit
Showing posts with label Anil Ambani. Show all posts
Showing posts with label Anil Ambani. Show all posts
Wednesday, May 16, 2012
Sunday, December 4, 2011
Anil Ambani-promoted Reliance Infrastructure can collect toll at 10 projects by March
NEW DELHI: Anil Ambani-promoted Reliance Infrastructure can start toll collection at its 10 road projects, which are being implemented at an estimated investment of Rs 10,000 crore, by the end of this fiscal.
"Six projects of Reliance Infrastructure would become revenue operational by March, 2012, four have already started generating revenues," a source said.
The company is executing these projects of the National Highways Authority of India under the public-private- partnership model and would earn revenue from toll collected from traffic.
In these six-laning projects, tolling can be commenced parallel to the commencement of construction from the day financial closure is achieved.
These projects include six-laning of NH 4 between Pune and Satara of length 140 km in Maharashtra, six-laning of NH 7 between Hosur and Krishnagiri of length 60 km in Tamil Nadu, six-laning of NH 2 between Delhi and Agra of length 180 km in Haryana and Uttar Pradesh.
Once these projects are completed, they are likely to generate a revenue of Rs 1,200-1,400 crore per annum.
Reliance Infrastructure plans to bag more highway projects in the future.
"Themega road projects...whenever they are bid out RInfra would been keen to develop them....only one mega road project has been bid out so far," sources said.
The 10 projects would be fully-commissioned by 2014. Reliance Infrastructure has 25 infrastructure projects totalling Rs 40,000 crore in hand, including these 10 projects.
The company had posted a net profit of Rs 362 crore in the quarter ended September 30, 2011.
"Six projects of Reliance Infrastructure would become revenue operational by March, 2012, four have already started generating revenues," a source said.
The company is executing these projects of the National Highways Authority of India under the public-private- partnership model and would earn revenue from toll collected from traffic.
In these six-laning projects, tolling can be commenced parallel to the commencement of construction from the day financial closure is achieved.
These projects include six-laning of NH 4 between Pune and Satara of length 140 km in Maharashtra, six-laning of NH 7 between Hosur and Krishnagiri of length 60 km in Tamil Nadu, six-laning of NH 2 between Delhi and Agra of length 180 km in Haryana and Uttar Pradesh.
Once these projects are completed, they are likely to generate a revenue of Rs 1,200-1,400 crore per annum.
Reliance Infrastructure plans to bag more highway projects in the future.
"Themega road projects...whenever they are bid out RInfra would been keen to develop them....only one mega road project has been bid out so far," sources said.
The 10 projects would be fully-commissioned by 2014. Reliance Infrastructure has 25 infrastructure projects totalling Rs 40,000 crore in hand, including these 10 projects.
The company had posted a net profit of Rs 362 crore in the quarter ended September 30, 2011.
Wednesday, June 1, 2011
Anil Ambani group's Reliance Capital to hire 3,500 managers, 50,000 insurance agents
NEW DELHI: Having witnessed a dip of over 4,500 staff from its headcount in last fiscal, Anil Ambani group's financial services arm Reliance Capital will hire over 3,500 managers for its various businesses this year.
Besides, the company also plans to hire 50,000 insurance agents in the current financial year ending March 2012, Reliance Capital CEO Sam Ghosh told media.
The large-scale hiring plans comes on the back of the company witnessing a decline of 4,550 people from its headcount in its insurance, mutual fund and other businesses during the fiscal ended March 31, 2011.
The company's total headcount stood at 18,069 as on March 31, 2011, down from 22,619 employees a year ago on March 31, 2010, as per its financial presentations for the two fiscals. Reliance Capital now plans to increase its headcount to near 21,000 people in the current fiscal, Ghosh said.
Reliance Capital is the financial services arm of the Anil Ambani group, which also has presence in businesses like telecom, power, infrastructure, media and entertainment.
The group employee strength also dipped by around 10,000 employees between May, 2010 and March, 2011, but latest figures are not available for across-the-group headcount.
As per a Reliance Capital investor presentation in March 2011, ADAG had "120,000 young, trained and motivated people" across its various group companies, as against a figure of "130,000 young, trained and motivated people" mentioned in a previous presentation dated May, 2010.
The sharp decline in Reliance Capital's headcount during 2010-11 was mainly due to life insurance business, while asset management, broking and destribution and general insurance segments also saw their staff strength declining in the year.
Asked about the decline in staff strength, Ghosh said it was largely because of a cyclical movement of people in life insurance business and the company has already started a major hiring drive.
"The fluctuation in headcount last year was predominately on account of cyclical movement of sales managers seen in life insurance business. We have already started hiring sales managers for our life insurance business and will be crossing the 12,000 headcount mark by July," Ghosh said.
"In addition, we also plan to add 50,000 agents in our insurance business during this fiscal," he added. The insurance agents are not included in the company's headcount.
Across the various businesses, Reliance Capital will hire more than 3,500 managers and take the total headcount to near 21,000 people, Ghosh said.
"Reliance Capital plans to hire over 3500 managers and ramp up its head count to around 21,000, across businesses, in this fiscal," he noted.
Besides, the company also plans to hire 50,000 insurance agents in the current financial year ending March 2012, Reliance Capital CEO Sam Ghosh told media.
The large-scale hiring plans comes on the back of the company witnessing a decline of 4,550 people from its headcount in its insurance, mutual fund and other businesses during the fiscal ended March 31, 2011.
The company's total headcount stood at 18,069 as on March 31, 2011, down from 22,619 employees a year ago on March 31, 2010, as per its financial presentations for the two fiscals. Reliance Capital now plans to increase its headcount to near 21,000 people in the current fiscal, Ghosh said.
Reliance Capital is the financial services arm of the Anil Ambani group, which also has presence in businesses like telecom, power, infrastructure, media and entertainment.
The group employee strength also dipped by around 10,000 employees between May, 2010 and March, 2011, but latest figures are not available for across-the-group headcount.
As per a Reliance Capital investor presentation in March 2011, ADAG had "120,000 young, trained and motivated people" across its various group companies, as against a figure of "130,000 young, trained and motivated people" mentioned in a previous presentation dated May, 2010.
The sharp decline in Reliance Capital's headcount during 2010-11 was mainly due to life insurance business, while asset management, broking and destribution and general insurance segments also saw their staff strength declining in the year.
Asked about the decline in staff strength, Ghosh said it was largely because of a cyclical movement of people in life insurance business and the company has already started a major hiring drive.
"The fluctuation in headcount last year was predominately on account of cyclical movement of sales managers seen in life insurance business. We have already started hiring sales managers for our life insurance business and will be crossing the 12,000 headcount mark by July," Ghosh said.
"In addition, we also plan to add 50,000 agents in our insurance business during this fiscal," he added. The insurance agents are not included in the company's headcount.
Across the various businesses, Reliance Capital will hire more than 3,500 managers and take the total headcount to near 21,000 people, Ghosh said.
"Reliance Capital plans to hire over 3500 managers and ramp up its head count to around 21,000, across businesses, in this fiscal," he noted.
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