Leading interracial supply chain and logistics solutions provider firm Transport Corporation of India Ltd declared this week that its board advisory have approved the consolidation of its real estate & warehousing undertaking into a new company named TCI Developers Limited (TDL).
The company sent a press statement via email saying that the demerged entity would have properties and investments with a book value of Rs 50 crore. The company presently has realty properties in major cities including Delhi, Pune, Chennai, Bangalore, Ahmadabad, Nagpur and many more.
The management conceives that the company’s Real Estate & Warehousing undertaking has the capability to expand the company’s existing real estate into commercial ventures and create a focused entity to develop large scale logistics infrastructure projects like truck terminals,multi-modal logistics parks, free trade warehousing zones and a lot others.
By developing a separate entity like this, the management determines to provide strategic direction and raise adequate funds for its development plans on the strength of its future profitability and growth plans in the Real Estate and warehouse construction sector.
The company’s Executive Director Vineet Agarwal said in the press statement, “Investment in realty & warehousing is more capital intensive and yields return over a longer period of time in comparison to the services model of the logistics business. Going forward, on a long term basis we would look at raising funds from strategic investors and financial institution”.