CarDekho plans to expand footprints to Southeast Asia

Ratan Tata backed CarDekho, the flagship portal of GirnarSoft, is chalking out plans to expand footprints to Southeast Asian countries in the future, sources said.

The company has presence in Indonesia under the brand name oto.

"Overseas market is certainly on cards for the company. Currently CarDekho is operating in Indonesia in the name of www.oto.com, which has become number one site for cars. We are trying to replicate our business and expand in other countries as well," sources told PTI.

"The company is looking at Philippines, Malaysia and some of the Southeast Asian countries to expand foot prints because of the very nature of auto industry," they said.

Meanwhile, Akansh Sinha, Co-founder of Gaadi.com, part of Girnarsoft, said the CarDekho group is expected to double its revenue to about Rs 700 crore during the current fiscal from Rs 360 crore last year.

CarDekho Gaadi store, a retail auction model for pre-owned cars on Wednesday opened five stores here as part of its plans to establish 200 Gaadi stores across India by 2020.

It already has 43 stores in Delhi-NCR, Bangalore, Jaipur, Pune, Lucknow and Ahmedabad, Sinha said in a press conference here.

"Over the next 24 months, we have plans to invest around Rs 200 crore into the space..

Compared to developed nations, India is still in a very nascent stage where the used cars are only now getting lot of attention. We do not want to miss out on this massive growth that the country is seeing," he said.

CarDekho, in January this year said it has raised USD 110 million (over Rs 770 crore) from various investors, which it plans to utilise to expand its various business verticals.