Amway to spend Rs 185 crore to buy office space in NCR

Submitted by Kamini Chopra on Tue, 04/14/2009 - 16:59

Amway to spend Rs 185 crore to buy office space in NCRAmway, a global leader in multilevel marketing, plans to invest nearly Rs 185 crore in India over the next two-three years, to buy space for its headquarters in the National Capital Region (NCR).

Sources reported that the company is presently in talks with various developers and looking at an area with sizes varying between 30,000 sq ft and 50,000 sq ft in Delhi, Gurgaon and Noida.

Apart from buying space in NCR, the company has intention to setup eight new centres about 8,000-10,000 sq ft each, across various locations in the country.

The company believes that each centre will require an investment of about Rs 2-4 crore.

Further, the company is also planning to expand its distributor base in next 10 years to nine lakh personnel and increase the number of its offices to 300.

Amway India, a wholly owned Indian subsidiary of the US based 8.2 billion Amway Corporation, currently has 127 offices and pick-up centers at many places, including Delhi, Mumbai, Chennai, Bangalore, Chandigarh and Pune. In addition, the company has 55 warehouses, which are outsourced to service partners.

In 2008, Amway India recorded a turnover of Rs. 1,128 crores registering a 40% growth, against a turnover of Rs 800 crores in 2007. The firm aims to achieve the sales turn over of Rs. 2,500 crore by the calendar year 2010.


Tagged with

Miscellaneous

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.

© Copyright 2010