Co Plans Unit in Africa, May In­vest in Realty in In­dia

The Economic Times - - Companies: Pursuit Of Profit -

New Delhi: Maruti Suzuki is ex­plor­ing pos­si­bil­i­ties to set up an assem­bly fa­cil­ity in Africa and in­vest­ing in real es­tate in In­dia to de­velop sales and mar­ket­ing in­fras­truc­ture, re­ports mis­tha Mukher­jee.

“We have a team in place now for land ac­qui­si­tion. We have al­lo­cated .₹ 800 crore for build­ing sales and mar­ket­ing in­fras­truc­ture. If re­quired, we can step this up fur­ther,” chair­man RC Bhar­gava said, af­ter the auto maker an­nounced its fourth-quar­ter re­sults.

The com­pany is look­ing at ac­quir­ing land and leas­ing it out for fu­ture deal­er­ships amid ris­ing real es­tate prices in the country.

Maruti Suzuki is sit­ting on cash re­serves of about .₹ 17,000 crore as of end-March.

It has more than 1,800 out­lets and work­shops in 1,450 cities and towns, a net­work es­ti­mated to be worth over .₹ 11,000 crore. It aims to take the dis­tri­bu­tion net­work to 4,000 out­lets to achieve its tar­get of sell­ing 2 mil­lion units a year by the end of the decade.

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