Skyways Group to invest ₹750 crore in the next 5 years.

Skyways Group, a Delhi-based logistics company, plans to invest around ₹750 crore in the next five years and improve its topline to ₹6,000 crore in the same period from ₹1,730 crore reported in 2021-22, according to its Managing Director Yashpal Sharma, Managing Director.

The investment will be in areas like cold chain (around ₹150 crore); new offices especially in southern India, and abroad, he told newspersons.

The company gets nearly 80 per cent of the revenue from air freight; 15 per cent from ocean freight; 1 per cent from road services and the rest from other services like express services and around 1 per cent, he told newspersons on the sidelines of the group celebrating in the city its 40 ^th Founders Day and 20 ^th Anniversary of Chennai operations.

Sharma said that the company plans to expand its global footprint by starting offices in Singapore, Japan, Korea, Myanmar. This is in addition to its current operations in Germany, Bangladesh and Hong Kong, he said.

SL Sharma, Chairman, Skyways Group said, “the group is looking to expand its services further to the manufacturing cities in South India. We also wanted to take advantage of the growing sea trade in the region to expand our ocean logistics under Forin Container Line, our Group Company,” he said.

"We are a team of 55 employees in Chennai and about 200 in South India currently. Given the economics of the regions, we believe there is a sizeable scale to grow our headcount and operations. We currently operate in four cities in Tamil Nadu and eight in South India. With around 40 per cent percent of the automobile industry having a base here along with being an electronic manufacturing hub, Chennai is a significant city for Skyways from a business perspective,” he said.

HBL