Hyderabad/ Andhra Pradesh, January 10, 2011:

(Agarwal Packers and Movers) Recently, DRS Group has constructed its own and large warehouses, especially in tier I & II cities like Jaipur, Ambala, Mumbai and Gurgaon. The Group has earlier floated special purpose vehicle (SPV) i.e. DRS Warehousing North Pvt Ltd with Merrill Lynch as its PE investor for warehousing expansion in North India. According to A K Agarwal, director, DRS Group, the Group has also drawn plans to set up modern warehousing facilities with around Rs. 4000 million in South India through a similar SPV. Out of the required 100 acres, 72 acres of land has been acquired for the proposed expansion. While prospective PE investor will hold 50 pc, the remaining will be with the Group in the form of land.

In addition, DRS Group is also strengthening its IT initiatives. “We are investing in upgrading and developing our IT infrastructure for better connectivity across our branches,” said Agarwal.

The company clocked revenues of around Rs. 2690 million during FY 2008-09 and targeted an uptick of around 20-25 pc in FY 2009-2010.

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