Prem Kishan Gupta, Chairman and Managing Director of Gateway Distriparks discussed the company’s performance in past quarter and business outlook going forward.

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“The railways have recommended some changes in the land lease policy to the cabinet and the final numbers have not yet come. We definitely have interest. Once the expression of interest (EoI) is there, we would have a look – we know the business very well, we are the forerunners in the rail business and once the details are out we will look at it and we will definitely take interest in bidding,” he said.

The land lease rental and the period over which the land will be leased out to Container Corporation Ltd (CONCOR) are the two factors that will determine the valuation for CONCOR.

“These two factors will determine whether it is worthwhile to have a go at CONCOR 30 percent stake and after that you have another 26 percent to take from the market. It is going to be a big investment, a sizeable investment,” he added.

In terms of cash on books, he said, “We will be more of an operational company. We will be backed by some funds who will be making the financial investment for a long-term for 30-50 years and we will be operating the company based on our track record for running the rail operation. So our investment will not be much in the investment company but more in the operations.”

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(Edited by : Aditi Gautam)

First Published:Mar 16, 2021 5:15 PM IST