Meru Cabs to expand operation in overseas market 2011

Meru Cabs to expand operation in overseas market 2011 : MUMBAI: Having achieved close to 50 per cent market share in India, radio cab service provider Meru Cabs , now plans to expand its operation in the overseas market next year. "Meru has good demand in the Indian market. Presently, we have close to about 50 per cent share in the domestic market. Now onwards, we want to expand our operation in the overseas market next year," Meru Cabs' Chief Executive Officer Rajesh Puri said.

"We will start operation at least two countries in the Asian market next year," he said. Puri, however, did not reveal the country name.

The country's largest radio cab service provider plans to ramp-up its operations by adding 2,500 cars and hiring an equal number of drivers by December 2011 to cater to increased consumer demand. "Presently, we have 5,000 cars and plan to deploy another 2,500 cabs by December 2011 to cater to the consumer demand," Puri said.

Meru plans to invest Rs 200 crore for procuring and deploying 2,500 cabs. "Rs 200 crore investment will go into procuring and deploying 2,500 cabs," he said.

"Currently we have 5,000 drivers across four cities. We plan to recruit additional 2,500 drivers by December 2011," he said.

The company receives around 50,000 requests for cab bookings in a single day across Mumbai, Delhi , Bangalore and Hyderabad . "We receive around 15 lakh requests for cabs in every month," he said, adding "during peak hours, the company found itself rejecting nearly 40 per cent requests, prompting it to hire additional drivers." For the latest updates PRESS CTR + D or visit Stock Market news Today

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