28 December 2020: FM Logistic aims to double its warehousing space to 1.2 crore sq. ft. in three to four years from 60 lakh sq. ft. at present.
Alexandre Amine Soufiani, MD, FM Logistic said that the step was taken as the company expects demand for such facilities to increase in the aftermath of the pandemic. Mr. Soufiani expects sales to return to pre-COVID levels by March 2021 as 90 per cent of the business has already recovered by December.
The company had outlined its plans to invest USD 150 million over the next five years to set up new warehouses in India, with focus on multi-client warehouses. Grade-A warehouses are categorised on the basis of construction quality, available space, location, amenities and clients, among others. With its plans to set up grade-A facilities in all metro cities and “dynamic economic areas”, especially multi-customer units, and focus on urban logistics, FM Logistic looks to attain leadership position in the sector, Soufiani said.
The company has already announced its plans to add 40 lakh sq. ft. warehousing space in the next three years that will take its total space to 1 crore sq. ft. he said, adding that it could add another 20 lakh sq. ft. He said the company has added a total of 10 lakh sq. ft. space in the last six months, all for multi-customer facilities, including omnichannel, pharma, e-groceries, FMCG, food, industrial, among others.
FM Logistic plans to have multi-customer facilities in Bengaluru, Delhi, Kolkata, Hyderabad and Chennai in the next 2-3 years. According to Soufiani, the company is expected to soon commence operations at its Bhiwandi facility in Maharashtra, which is spread over 4 lakh sq. ft. space with a part of it dedicated for pharma clients.
He said that the upcoming state-of-the art warehousing facility at Jhajjar in Haryana will also be operational in the second quarter of 2021. Earlier this month, FM Logistic had signed a strategic partnership with Welspun Logistic Park to develop 9 lakh sq. ft. space in Bhiwandi in the next 3 years.
Soufiani said the company has signed five new contracts during the pandemic period. “While omni-channel and auto segment account for 25 per cent of the company’s overall business, pharma accounts for 10 per cent of business and the rest comes from other segments,” he said.
About FM Logistic IndiaFM Logistic in India is one of the key 3PL companies. It has a presence over 90+ locations and manages 6.0+ million ft2 of warehousing space. FM Logistic India provides Warehousing & Distribution Logistics services for the FMCG, Retail, Automotive, E-commerce, Engineering, Telecom, Pharma and other sectors. Our 4,000+ Indian employees provide a range of warehousing and distribution services that include Warehousing and Distribution Management, Intra-City deliveries and Value-added services. FM Logistic India has an extremely strong client base that includes several blue-chip Indian and multi-national corporations. The company is the recipient of several Logistics and Supply Chain Management awards that bear testament to the quality and focus that it brings to its customers. Its vision is to be recognized as the most dependable and responsive logistics service provider. For more information, please visit: https://www.fmlogistic.in. You can follow FM Logistic India on LinkedIn at #fmlogisticindia.