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