July 17, 2017: Allcargo Logistics is reportedly planning to foray into the last-mile delivery space and is eyeing revenue of Rs 1,500 crore from the segment by 2020.
The company is also likely to invest around Rs 1,000 crore to double its exim warehousing/ CFS stations and logistics park capacity to 10 million sqft by 2020.
According to media sources, Allcargo Logistics founder and chairman Shashikiran Shetty has said that the company has revised its domestic plans and will enter the last-mile delivery space this year itself.
He also said the company will focus on the booming e-commerce space under the domestic focus where it already works. It works with auto players like Tata Motors, Ashok Leyland, Eicher and Volvo for domestic freight.
In fiscal 2017, Allcargo, which is an NVOCC (non-vessel operating common carrier), reported net profit of Rs 230.4 crore on a revenue of Rs 5,568 crore and a debt of Rs 300 crore. Almost 75 per cent of the income came from global operations.