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DRS forays into warehousing with PE investors and alliance (Agarwal Packers and Movers)

  • Issued By: praneeth030
  • City / State: Hyderabad/ Andhra Pradesh
  • Phone: 0 88858 88858
  • Company Website: http://www.agarwalpackers.in
  • Submitted: January 10, 2011 11:19 pm


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.

Agarwal Packers and Moves an well experienced company providing packers and movers services since 1987 “23 years” of quality services we know what customer needs and what are they requirements, our employees are well trained with good knowledge on relocation we conduct trainings to our employees before they are into field, we believe customer satisfaction is our great success, end to end moving best packers and movers services provider in INDIA

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  • PR Submitted by: praneeth030
  • Member Since: December 24, 2010