Bhavyaa Global Announces INR 150-200 Crores CAPEX Plans
KOLKATA, June 8, 2012 /PRNewswire/ --
Bhavyaa Global Ltd - one of the fastest growing companies from North East India with operations in coal mining and logistics - is looking at expansion with an investment of upto INR 150-200 crores. The funds, once procured, will be utilized on additional equipments, qualified engineers and supplementary acquisition of neighboring mines in FY 2013.
According to Mr Ravi Modi, Chairman, Bhavyaa Group, "In India the demand of coal is increasing day by day and even if we look at other renewable resources of energy, thermal energy will still stay for many years to come."
The CAPEX plan will look at increasing machinery for coal mining and logistics. As of today, the company has leased 34 sq km from the Meghalaya government and has a current production capacity of 1000 tons a day of coal by utilizing only 3 sq km of the total 34 sq km coal mines awarded.
The capacity expansion will help the company to reach at least 5000 tons a day from the designated 15 sq km area over the next one year. Bhavyaa Global currently owns 450 trucks in their logistics company - Dev Roadlines Pvt. Ltd.
The turnover of the group (Bhavyaa Global Ltd. and Dev Roadlines Pvt. Ltd. & Bhavyaa Dev Roadlines Pvt. Ltd) for the FY 2011-12 was INR 450 crores with a PAT of approximately 10% which is expected to increase to INR 900-1200 crores per annum.
Bhavyaa Global is also looking at venturing into travel and tourism in this fiscal year. From the logistics side of the business, the company is looking to open warehouses and cold storages at key tier II cities across India.
About Bhavyaa Global
Bhavyaa Global Limited (BGL) is a new, young and dynamic company which has in a short span of time carved a niche for itself in the mining sector of India, particularly in the remote North East. As a new entrant in the highly competitive private sector mining space, BGL has made promising progress in this vastly lucrative sector.
Incorporated in end 2008, the company has had phenomenal growth. Steered by the young and self-motivated Mr. Ravi Modi, BGL has emerged as the flagship company of the Rs. 700-crore diversified Dwarka Das Modi Group of Industries. Started by a young group of dedicated professionals, BGL has taken the lead in the private mining sector in the North East.
For more information please visit: http://bhavyaaglobal.com/
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