• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Chennai , July 5

The Hyderabad-based DRS Group, which owns Agarwal Packers & Movers, has acquired 98 per cent stake in Dilip Road Lines, a parcel service company in south India, for Rs 2.5 crore.

It was an all cash deal, said Mr Ramesh Agarwal, Joint Managing Director, DRS Group.

The acquisition would provide the group enhanced focus on the parcel service of cargo weight such as 50 kg and 100 kg. Dilip Road Lines would retain its identity, and the acquisition would help it to be present in the all-India market, he told newspersons.

The Rs 115-crore DRS Group plans to invest Rs 21 crore in the next six to nine months to expand the number of branches from 35 and to 60, increase the number of vehicles from 490 to 550. State Bank of India provided Rs 15 crore for the expansion, and the rest is through internal accruals. The company is targeting a Rs 225-crore turnover in 2007-08, said Mr Dinesh Agarwal, Director, South, DRS Group.

More Stories on : Mergers & Acquisitions | Supply Chain Management

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Hyderabad airport bids for global meet

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line