Stock Report

AVG Logistics Secures 60 Crore UPSRTC Tender as Authorized Partner for Express Parcel Services

Posted On : 2024-07-12 12:57:28( TIMEZONE : IST )

AVG Logistics Limited, a leading multimodal logistics solutions provider has been awarded the tender as the authorized partner for Express parcel services by Uttar Pradesh State Road Transport Corporation (UPSRTC). This significant achievement underscores AVG's commitment to excellence and its expanding role in the Express Parcel delivery segment.

The award of this tender marks a strategic partnership between AVG and UPSRTC, aimed at enhancing the efficiency and reach of Express parcel delivery services. As the authorized partner, AVG will be responsible for managing and optimizing Express parcel operations, ensuring sustainable, timely and reliable delivery for customers across the designated regions in the state of Uttar Pradesh.

Uttar Pradesh, one of India's largest and most populous states, presents a unique set of logistical challenges. AVG aims to address these with its efficient delivery network through partnering with UPSRTC, and customer-centric approach. The launch of AVG's services in this region will streamline the process of Express parcel delivery and also contribute to the state's economic growth by enabling smoother and faster movement of goods.

In a significant move to bolster its service capabilities, AVG has secured space in 9,000 UPSRTC buses for Express parcel delivery services and expecting the lifetime revenue of Rs. 60 Crore over a period of 5 years. This collaboration with UPSRTC will enable AVG to leverage the extensive bus network for efficient and wide-reaching Express parcel distribution, covering urban and rural areas in the state of Uttar Pradesh.

This award reinforces AVG's position as a leader in the logistics industry and provides a solid foundation for sustained growth and profitability. AVG with a mission to provide reliable, fast, and cost-effective delivery solutions, is set to transform the logistics landscape of the state.

Commenting on performance, Mr. Sanjay Gupta Managing Director & CEO, AVG Logistics Limited said, "We are honoured to have been selected by UPSRTC as their authorized partner for courier Express parcel services. This collaboration aligns with our strategic goal of expanding our service portfolio and strengthening our presence in the logistics sector.

The partnership with UPSRTC marks a significant milestone for company as it continues to grow and diversify its service offerings. As an authorized partner, we will play a crucial role in optimizing the efficiency and reach of UPSRTC's Express parcel services, contributing to the overall enhancement of the logistics infrastructure in Uttar Pradesh.

We are dedicated in providing exceptional services and look forward to a successful partnership with UPSRTC. Our commitment to honesty, responsibility, and customer dedication sets us apart in the competitive landscape. We remain dedicated to innovation, strategic partnerships, and an unwavering focus on customer satisfaction.

Shares of AVG Logistics Limited was last trading in BSE at Rs. 471.25 as compared to the previous close of Rs. 449.10. The total number of shares traded during the day was 9494 in over 775 trades.

The stock hit an intraday high of Rs. 474.65 and intraday low of 443.05. The net turnover during the day was Rs. 4383733.00.