Shriram Transport Plans To Open 50 Auto Malls In The Coming Years
Heavy vehicle financier, Shriram Transport Finance has made its mind to build auto malls in Gurgaon-Manesar and Mumbai in this financial year. The company has well planned about setting up another 50 outlets all over the country. This is done for selling pre owned vehicles in this fiscal.
Mr U. G. Revankar, Deputy Managing Director, Shriram Transport Finance has said that the market has slowed down at present with annual growth being 12 per cent so far compared with 30 per cent last year, their business has not been impacted much since they are more into financing used vehicles.
“At present, we are operating two auto malls in Chennai and Baroda. We will open two more in Gurgaon and Mumbai,” Mr. Revankar said.
Moreover the company plans to enter into partnerships with investors who would be taking care of the infrastructure of these malls.
In addition the Shriram Transport Finance Company (STFC) has planned to invest around Rs 1,000 crore in its subsidiary Shriram Equipment Finance Company (SEFC). This is done to support SEFC’s diversification into the infrastructure space.
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