Maruti Suzuki earmarks Rs. 800cr for realty infra

    Maruti Suzuki Realty Infra
    Exploring the possibilities to set up an assembly facility in Africa and investing in real estate in India to develop sales and marketing infrastructure, the Maruti Suzuki has laid out an ambitious plan to foray in the country's real estate sector and allocated Rs 800-cr for building the allied infrastructure, Chairman RC Bhargava said, elaborating that 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 Rs 17,000-cr as of end-March. The company has more than 1,800 outlets and workshops in 1,450 cities and towns, a network estimated to be worth over Rs 11,000cr. 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. Maruti, which had been mandated by parent Suzuki Motor to produce and market vehicles for the African West Asian and some South Asian markets, has commenced feasibility studies to evaluate the potential of setting up a unit in Africa but a final decision has not been taken yet, MD Kenichi Ayukawa insisted.
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