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Your TVS To Soon Get A New Identity
The Director further said that TVS Automobile Solutions will pave way for an investment of Rs250crore during the coming three years and another Rs250 will be gathered from probable JVs. The company which has stabilized its dealings mainly in the southern regions of India is aiming to capitalize much on the JVs contributions to expand its nationwide presence. In this bid the new venture will be taken to four major states of the Northern region now while western region will get its due in 11 states.
He explained that the company has initiated talks with four firms for creating joint ventures which may be inked in another three to six months. The task of the JVs will be to provide infrastructures and market access in the unfulfilled areas. The contribution from the JVs, he added, will be around Rs15 crore each in addition to major stakes in the shares.
Sensing the rapid growth in the industry the new venture is pursuing for the turn over of Rs460 crore in another three years. The current capital base of the company is Rs120 crore with the profit of Rs30 crore. The current overseas presence is in Srilanka and further expansion will be in Bangladesh and select regions of Gulf Cooperation Council countries, he disclosed.
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