Blue Dart rules out BSE delisting

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Kolkata, Jul 23 : Blue Dart, a leading player in the courier business, has ruled out the possibility of getting de-listed from the Bombay Stock Exchange (BSE) now, even though the market is abuzz with rumours that the company is going to become a fully owned subsidiary of DHL.

DHL Express Singapore Pte Ltd has 81.03% stake in Blue Dart that they picked up in 2005. The public holds the rest.

Managing director Anil Khanna, refusing to comment on the issue, said: "There have been speculations in the market."

Blue Dart, which has 41.7% marketshare in the aviation cargo industry, has planned to invest Rs 200 crore in 2008 to set up IT infrastructure and infrastructure at the airports.

Khanna said the company plans to add yet another freighter to its fleet of three Boeing 737s and three Boeing 757s. The purchase of the aircraft, which is likely to be a Boeing 757 according to sources, will be part-financed from the Rs 200-crore kitty.

Blue Dart has a capacity of 300 tonne per night. "We are doing some route rationalisation and will go up to 400 tonne after that," Khanna said.

The Rs 811-crore company has about 1.5 lakh sqft of warehousing space and is likely to increase that to 10 lakh sqft by 2011. "We are looking at 58 more warehouses in two-three years. This is part of our plan to have 10 lakh sqft of warehouse," Khanna said.