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Future Supply Chain mulls Rs400 cr expansion plan

Future Supply Chain mulls Rs400 cr expansion plan
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First Published: Tue, Dec 14 2010. 11 29 PM IST
Updated: Tue, Dec 14 2010. 11 29 PM IST
New Delhi: Logistics arm of the Kishore Biyani-led Future Group, Future Supply Chain Solutions Ltd (FSCSL) will invest up to Rs400 crore in next four years to fuel its expansion plans, a top company official said.
“We plan to build logistics park across the country. It will be basically a cluster of large distribution network. These hubs will receive products from vendors and then feed the other smaller warehouses across the country,” said Anshuman Singh, managing director and chief executive of FSCSL on the sidelines of a logistics summit. “For the purpose, we have earmarked an investment of Rs400 crore over the next four years.”
It is also investing Rs30 crore in 2011-12 on developing the backend systems for the Group’s new e-commerce business. “We have some aggressive plans chalked out in the field of digital commerce. We are promoting it through many portals such as futurebazaar.com,” Singh said.
Singh believes that this format for the company—internet-based purchases —would fuel the next phase of growth.
The company also plans to generate Rs400 revenue in this financial year as against Rs200 crore in the previous fiscal.
FSCSL, which provides logistics solutions largely for personal consumption goods, is also targeting business from outside the Group to grow to 50% of revenues from the present 25%. At present, it mostly handles logistics for the Group’s nationwide retail business, which includes the nationwide food to appliances Big Bazaar hypermarket chain and fashion retail chain Pantaloons.
“We are a company set up for consumption logistics, which is for the transport of FMCG and retail products and not bulk goods. The demand in the last year has increased very rapidly and we are expanding quickly. We’re also evaluating a partnership with the auto hubs that the Railways is planning for last mile connectivity,” he said.
amrit.r@livemint.com
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First Published: Tue, Dec 14 2010. 11 29 PM IST