TCI Express Ltd. ("TCI Express"), market leader in express distribution in India, yesterday announced that its new sorting centre at Pune has become operational after receiving relevant regulatory approvals.
The 1.5 lakh sq.ft. Pune sorting centre, optimally located at Chakan, will be having 50 loading docks and will augment the Company's service in the western region. This is a new milestone for the company and will offer clear advantage in terms of operational efficiency, service reliability, higher utilization and shorter turnaround time, along with business operations expansion.
As part of TCI Express' commitment towards environment conservation, the new sorting centre will have a clear focus on energy efficiency. It has Light Saving Building Design with maximum utilization of natural light, a Solar Project construction is under process to meet energy requirements, Effluent and Sewage treatment plants are also being installed to minimize waste generation.
Total cost incurred for the Pune sorting centre, including purchase of land, is approx. Rs. 35-40 crores. In the next phase, company will focus on integration of automation and technological upgradation, with additional investment of Rs. 20 crores and anticipated to be completed in the later part of FY2022.
The Gurgaon sorting center is also near completion and under supervision of the senior management, the Company is planning to automate Gurgaon center on priority due to location proximity. This will also ensure implementing best global practices and utilizing the learnings for Pune sorting center automation.
Commenting on the development, Mr. Chander Agarwal, Managing Director, said: "I am pleased to report that our new sorting centre at Pune has become operational. The 1.5 lakh sq. ft. sorting centre, in strategic terms, will strengthen our services in the Western India. It will also improve operational efficiency by ensuring faster and reliable service, and support our branch expansion plans for the region. In the next stage, our focus will be on complete automation and developing state of the art IT Infrastructure, which is expected to be completed in the later part of FY2022.Operationalization of a high-performance sorting centre will strengthen our market position and will create new growth opportunities for business."
Shares of TCI Express Ltd was last trading in BSE at Rs.1557.8 as compared to the previous close of Rs. 1504.6. The total number of shares traded during the day was 44020 in over 4395 trades.
The stock hit an intraday high of Rs. 1623 and intraday low of 1474.6. The net turnover during the day was Rs. 68112845.