TCI Developers Ltd gets listed on NSE & BSE

Company Brief

New Delhi, April 19, 2011

TCI Developers Ltd (TDL), the newly created real estate entity of Group TCI, was today listed on the country's premier exchanges i.e. NSE and BSE, post the requisite approvals from SEBI & Stock Exchanges.

The demerger process of the real estate arm started on March 17, 2010 after the approvals from the company's Board of Directors. The Scheme of Arrangement was approved by the Hon'ble High Court of Andhra Pradesh on September 15. Pursuant to the Scheme, the Real Estate and Warehousing Undertaking of the Group got demerged and vested in TCI Developers Limited (TDL). TDL has taken over all the specified and allocated assets, both movable & immovable and liabilities from erstwhile "Real Estate & Warehousing Division" of Transport Corporation of India Ltd. (TCI). The company has allotted 36,29,431 equity shares to the shareholders of TCI in the ratio of 1 (One) equity share of Rs.10/- each of TDL for every 20 (twenty) equity shares of Rs.2/- each held in TCI.

With the strategically planned demerger, TCI will strive to focus more on the group's core business logistics which is growing rapidly in the country. Besides this, the demerger will help the strategic investors and financial institutions to look at both the entities as two different companies.

Mr. D P Agarwal, VCMD, TCI and Chairman TDL, said, "With the newly formed company TDL, we aim to develop the company's existing real estate properties into commercial ventures. We have chalked down a strategic plan for the entity and will use the cash generated from it for development of large scale logistics infrastructure projects like multi-modal logistics parks, truck terminals, free trade warehousing zones etc."

The book value of the properties and investment vested with TDL amounts to approximately Rs. 50 crores. The shareholding pattern of TDL is identical to that of TCI. The company presently has real estate properties in metropolitan and tier II cities including Delhi- NCR, Chennai, Pune, Nagpur, Bangalore, Ahmedabad and others.

About TCI Group: TCI Group, with revenues of over Rs. 2000 crores, is India's leading integrated supply chain and logistics solutions provider. TCI group with expertise developed over 5 decades has an extensive network of company owned offices, 8.5 mn Sq ft of Warehousing Space and a strong team of trained employees. With its customer-centric approach, world class resources, State-of-Art technology and professional management, the group follows strong corporate governance and is committed to value creation for its stakeholders and social responsibilities. TCI was the first to launch several solutions in the logistics field. Its product offering includes:

TCI Freight: India's leading surface transport entity. This division is fully equipped to provide total transport solutions for cargo of any dimension or product segment. It transports cargo on FTL (Full truck load) / LTL (Less than truck load) / Small packages and consignments/ Over Dimensional cargo.

TCI XPS: A leading express distribution specialist, it offers a single window door-to-door & time definite solution for customers' express requirements. It services 13000 locations in India and 200 countries abroad.

TCI Supply Chain Solutions: TCI SCS is a single window enabler of integrated supply chain solutions right from conceptualization and designing the logistics network to actual implementation. The core service offerings are Supply Chain Consultancy, Inbound Logistics, Warehousing/ Distribution Centre Management & Outbound Logistics.

TCI Global: The global business division of TCI provides end-to-end logistics solutions across boundaries. TCI Global offers freight forwarding & customs clearance activities from all its domestic and international offices. TCI Global caters to specific industry verticals such as Pharma & Temp control, Commodity (Agri & Non Agri) Retail & FMCG, Auto & Project Cargo.

TCI Seaways: TCI Seaways has well equipped ships in its fleet and caters to the coastal cargo requirements for transporting container and bulk cargo.

TCI Developers Ltd: The real estate arm of Group TCI has been created to look into the development of commercial properties of TCI. These properties will be developed into office complexes, residential buildings, etc. depending on the best use of the property. It is also undertaking development of large modern Warehouses, Logistics Parks etc.

TCI Foundation: As the group's social arm, TCIF fulfils corporate social responsibility and runs charitable hospitals and schools for the under-privileged in the rural areas. It has also collaborated with the Bill & Melinda Gates Foundation & National Aids Control Organization to run programs on AIDS interventions and education among the vulnerable trucking community.

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Mani Sinha

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