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Ashok Leyland bags Rs172 cr order from VRL Logistics

Ashok Leyland bags Rs172 cr order from VRL Logistics
PTI
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First Published: Tue, Jan 18 2011. 03 03 PM IST
Updated: Tue, Jan 18 2011. 03 03 PM IST
New Delhi: Hinduja flagship firm, Ashok Leyland on Tuesday said it has bagged fresh orders from VRL Logistics for 262 vehicles.
The fresh order includes 200 numbers of car carriers on the ‘U-3518’, 12 units of ‘U-4923’ truck and 50 units of company’s 12-meter buses in addition to the 600 vehicles ordered a month ago. The cumulative value of the order is pegged at over Rs172 crore, the company said in a statement.
Commenting on the development, Ashok Leyland managing director R. Seshasayee, said: “The U-3518 is built on the new, innovative U-Truck platform and is one more example of a product designed to meet the specific load carrying requirements of VRL Logistics, who are India’s leading logistics company.”
Earlier, VRL had placed orders for 500 units of ‘3123’ Multi-axle vehicles and 100 12-meter buses.
“The rise in demand for fully-built vehicles in the Indian automotive industry is a positive sign and I am happy to note that this order also features a requirement for 40 fully-built, ready-to-use vehicles,” Seshasayee added.
VRL Logistics chairman Vijay Sankeshwar said the company is into a high-growth mode and hence is substantially expanding its fleet.
“We are entering new, high-potential growth segments like car-carriers and at the same time consolidating our position in areas like the passenger segment,” he said.
VRL has grown from a single truck company in 1976 to a leading logistics enterprise with a fleet of 2,691 vehicles, employing over 12,000 people and operations spread across 911 branches covering 2,629 locations in India.
Ashok Leyland scrips were trading at Rs58.10, down 1.61% on the Bombay Stock Exchange in late afternoon trade.
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First Published: Tue, Jan 18 2011. 03 03 PM IST