TCI Express Announces Ground-breaking Ceremony For New Sorting Centres At Gurugram And Pune
TCI Express Limited (“TCI Express”), market leader in express distribution in India, held an official ground-breaking ceremony for its two new sorting centres at Gurugram and Pune in Aug 2019.
The new 2 lakh sq.ft. sorting centre at Gurugram will be located at Farukhnagar and 1.5 lakh sq.ft. sorting centre at Pune will be located at Chakan. The construction is expected to be completed by end of the current fiscal year and operations are anticipated to begin from Q1 FY2021.
The owned sorting centres align with strategic objectives of TCI Express and provide necessary impetus to the company’s growth trajectory, higher utilization and operational reliability. This will also create ample opportunities for investment in complete automation and implementation of business intelligent tools which will result in direct cost reduction benefits, shorter turnaround time and enhanced operational efficiencies in the long run.
Considering the recent developments, we have revised our expected Capex expenditure target for the fiscal year to Rs. 80 crore compared to previously envisaged Rs. 60 crore. This Capex will be primarily utilized for construction, automation and IT infrastructure development for the sorting centres. The entire expenditure will be funded through internal accruals.