December 04 , 2017
Targeting Rs 12,000 crore revenue by 2020: Allcargo Logistics
The Allcargo Logistics stock has had a very quiet 2017 with only a one percent gain so far, but the street seems excited about the logistics space post goods and services tax (GST). In an interview with CNBC-TV18, Shashi Kiran Shetty, Founder & Chairman of the company spoke about company’s prospects for FY18 and beyond, the kind of growth that we can foresee and the next key triggers.
Things should change quite substantially starting from January, he said. The company plans to move to 10 million square feet (sq ft) of warehousing space versus 3 million currently. Require Rs 700-1,000 crore of investment over the next 3-5 years and will borrow money at a lower cost given that logistics sector has been given an infrastructure status, he added. Will acquire Rs 100 crore worth more land outside Delhi, said Shetty. Have plans to raise some equity capital at the right time, he further mentioned. We are very open to look at partners to work with us, share some of the upside and share some of the risk in building these infrastructure, he said. Speaking about land acquisition, he said, we will acquire Rs 100 crore worth more land outside Delhi. Our target is to achieve Rs 12,000 crore by 2020, said Shetty.