Business Standard

Godrej Group arm to invest Rs 100 cr to acquire material handling equipment

Godrej & Boyce on Tuesday said it will be investing Rs 100 crore over the next three years to acquire material handling equipment.

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Press Trust of India Mumbai

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Godrej & Boyce on Tuesday said it will be investing Rs 100 crore over the next three years to acquire material handling equipment.
Demand for renting the equipment is high and the capital investments will be by Godrej Rentrust eyeing a share of the same, a statement said.
Pegging the overall market at Rs 2,200 crore, the company said it is eyeing business in the auto, engineering, chemicals and pharma, food and beverages, fast-moving consumer goods, logistics, ecommerce and retail sectors.
In the January-March period, it received 100 orders from companies for deploying equipment, the statement said.
Renting equipment has become a preferred option for businesses seeking managed services and bypassing high upfront costs, the company said, adding that it has grown at over 20 per cent per annum over the last five years.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 30 2023 | 6:25 PM IST

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