Meru Cab eyes Rs 450 crore revenue in 2013-14

Mumbai-based cab service provider Meru Cab, part of the V-Link Fleet Solutions is eyeing to generate revenue of Rs 450 crore for the period ending March 31, 2014 besides expanding its service in the country, a top company official has said.

The company, after strengthening its footprint in Mumbai, Hyderabad, New Delhi, Jaipur and Ahmedabad, forayed into the Tamil Nadu market with the launch of the cab service in Chennai.

"We are launching today with 100 cabs. In six months we are planning to increase to 500 cabs and in a year or two, we are planning to take it to 4,000 taxis...," Meru Cab Company founder and MD Neeraj Gupta told reporters here.

Observing that Chennai-market was important, as 30% of India's car production happens from Chennai, he said: "Chennai is a market that will continue to grow. The cab service industry is still untapped here."

To a query on revenue, he said the company clocked revenues of about Rs 400 crore last year 2011-12 and for the current financial year we are eyeing about Rs 450 crore.

On expanding the services in the country, he said: "After Chennai, we are planning to launch in Chandigarh, Goa, Kolkata during next (financial) year."

Popular Tamil film actress Sneha Prasanna launched the Meru Cab Service in Chennai on the occasion.