EFC (I) announced that it has incorporated joint venture (JV) company namely, Forty Two Ventures, in collaboration with Pepperfry.
The Forty two Ventures will engage in the business of logistics and logistic solutions, including end-to-end supply chain management. It will operate, manage, and maintain furniture studios, experience centers, and retail showrooms.The company has subscribed 50% or 50,000 equity shares of Forty Two Ventures, with a face value of Rs 10 each, aggregating Rs 500,000.
The objectives of Forty Two Ventures align with the companys existing business operations, as well as those of its subsidiaries. These objectives also serve as ancillary support for the groups current business activities, leveraging its established expertise in the segment.
EFC (I) is an integrated office infrastructure and design company. It has more than 70 centers with more than 56,000 seats under management across nine cities in seven states. The company caters to more than 570 highly reputed corporates both Indian and global names, in terms of offering high-quality working spaces.
EFC (I) has reported 91.7% jump in consolidated net profit to Rs 40.47 crore on a 4.5% rise in revenue to Rs 181.51 crore in Q3 FY25 as compared with Q3 FY24.
The counter advanced 1.33% to end at Rs 221.45 on Tuesday, 4 March 2025.
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