• SELECT SITE CURRENCY
Select a currency for use throughout the site
Four-S Fortnightly Logistics Track - Issue 2
Four-S Services, March 2012, Pages: 9
This issue covers 19th - 31st March 2012
Future Group's realty arm plans to set up logistics parks
Future Group's real estate arm Future Market Networks is planning to set up eight infra-logistics parks with up to 2mn sft of space in each over the next three years. The company has entered into an equal joint venture with IL&FS and will spend over 12bn Indian Rupee on setting up such parks in Mumbai, Pune, the national capital region, Chennai, Bangalore, Kolkata, Vapi and Baddi. Future Market Networks, earlier called Agre Developers, is acquiring 100 acres in Khopoli near Mumbai. It had earlier acquired 113 acres in Kolkata and 50 acres each at Ghaziabad and Jhajjar in Haryana. The promoter of Future Group, Kishore Biyani, holds 68% in Future Market Networks, while the rest is held by the public. Future Group's logistics company Future Supply Chain will be the anchor tenant at all of these parks, while rest of the space will be targeted at third-party companies involved in fast moving consumer goods and logistics businesses. The investment of 12bn Indian Rupee will be funded through a mix of equity and mezzanine finance.
Ambit Pragma Invests 70mn Indian Rupee More In Spear Logistics
Private equity investor Ambit Pragma Ventures has invested 70mn Indian Rupee ($1.7mn) more in Pune-based contract logistics company Spear Logistics Pvt Ltd, one of its portfolio firms. The money raised in this second round will be utilised to implement the company's expansion plans. In 2010, Ambit Pragma made its first investment in Spear Logistics through Ambit Pragma Fund I. According to VCCircle, the company had a turnover of 411.1mn Indian Rupee as on March 31, 2011. But higher expenditure of 393.4mn Indian Rupee made the company book a loss of 28mn Indian Rupee for the same period. Founded in 2001, Spear Logistics has a team of more than 1,800 employees and runs 75 warehouses spanning 2,000,000 sq. ft., along with supporting infrastructure. The company leases its warehouses to clients and currently operates in cities like Mumbai, Pune, Hyderabad, Ahmedabad, Bangalore, Chennai, Coimbatore, Kochi, Nasik, New Delhi and Kolkata.
News of the week
Global News Update
Stock Market Updates
About Four-S Services
A sample for this product is available. Please Login/Register to download this sample.