Godrej RenTRUST, a leading player in the Indian materials handling rental industry plans to invest the equivalent of USD12.1 million on equipment over the next three years.
This strategic move comes as the company foresees a significant surge in materials handling requirements across the country. In Q4 of FY23, Godrej RenTRUST secured orders of more than 100 units of equipment to esteemed clients across shipping, 3PL, ecommerce, FMCG, manufacturing and F&B, demonstrating the company's commitment to long-term partnerships.
The company notes that the Indian rental market has shown "a remarkable growth trajectory". By opting for equipment rentals, customers significantly reduce their involvement in servicing requirements, experts add. Industry studies indicate that in the entire lifecycle of equipment, service consumes approximately 20% of the cost and 15% of the time of consumers. Reducing either of these aspects empowers industry players to become more competitive in their respective sectors.
Commenting on the invesment plans, Anil Lingayat, executive VP and business head of Godrej Material Handling, says: "We are thrilled to announce our investment of INR 100 crores in capital assets for Godrej RenTRUST, reflecting our strong belief in the rising demand for materialx handling solutions across the country. At Godrej RenTRUST, our focus is on empowering businesses to thrive by providing flexible rental options that eliminate high upfront costs and offer optimal equipment tailored to their specific needs. By delivering transparent rental contracts, exceptional service, and hassle-free maintenance, we aim to enhance our customers' productivity, drive operational efficiencies, and enable them to stay ahead in today's competitive landscape. This strategic investment underscores our commitment to revolutionize the material handling rental industry and deliver exceptional value to our valued customers."