Smartr Logistics targets Rs 1000 crore turnover

there is an exciting future ahead in the next 10 years in Hyderabad and Visakhapatnam. at present we have our presence in 121 cities pan India and will focus on expansion to new areas in the two Telugu speaking States in the next few years -Yogesh Dhingra, MD & CEO, Smartr Logistics

Visakhapatnam: Announcing their plans to go on a massive expansion, Smartr Logistics Managing Director & CEO Yogesh Dhingra on Monday predicted a huge growth potential for courier services due to promising future for logistics sector in and around Hyderabad of Telangana and Visakhapatnam of Andhra Pradesh.

Stating that there is an exciting future ahead in the next 10 years in Hyderabad and Visakhapatnam, he told the media here that at present they have their presence in 121 cities pan India and will focus on their expansion to new areas in the two Telugu speaking States in the next few years.

The company was founded in 2021 during the pandemic, he said with people having rich experience in the industry. "In the first two years, we established a network of 2,700 pin codes in the express logistics space." With GMR International Airport getting ready and multiple logistics parks and industrial corridors in the pipeline, we are expecting a big market ahead in the next two to three years in the Visakhapatnam area," he pointed out. Visakhapatnam economy will change phenomenally once big IT companies set up their campuses in the region, he said.

He said their company, which had achieved a Rs 125 crore turnover in the first two years, is planning to raise it to Rs 1,000 crore in next four years by expanding deeper into interior areas pan India.

Dhingra said both Hyderabad and Visakhapatnam are finding place among top 10 richest cities and projected Karnataka-type development in both Telangana and Andhra Pradesh. He also said that in the next three to four years the logistics cost is expected to fall to single digit and praised the Prime Minister's Gati Shakti initiative to reduce logistics cost from 14 to 8 per cent in next five to seven years. India has already become the fourth largest economy in the world and in the next few years, it is projected to emerge as the third largest economy, he stated.