WTi Cabs, a Delhi-based car rental and transportation service provider, is aiming to generate a turnover of Rs ₹2,000 crore by 2030 from around ₹415 crore right now. It is also expanding its network to direct customers (B2C) from business-to-business (B2B) right now, a senior official said.
“We are trying to achieve around ₹2,000 crore by 2030...we have healthy reserves as a company. In the last 12-13 years we have been growing at a rate of around 30 to 35 per cent CAGR and going forward we expect to continue with the same growth rate or better (with new projects coming in),” Ashok Vashisht, Founder and Chief Executive Officer, WTi Cabs told businessline.
He said the company will be choosy in terms of which projects to pick up and therefore took time to launch B2C version of the cab services too. “We can’t say that if we get money from investors, we can invest in anything. I think I’m a custodian. I’m a trustee for that amount, which is with us. It is very important that we got to be judicious in terms of what we spend,” he noted.
The company that launched its services in Dubai in December 2023, with 100 self-driving cars and an investment of around ₹15 crore, would also launch services in far east countries now.
“We are looking at Malaysia, Thailand, Singapore and Vietnam as these are the four countries where a lot of our influx of tourism is happening as of now, especially from India, so these are the initiatives that we are taking and which will give us some growth traction,” he said.
He said the company will keep focusing on its major businesses -- employ transportation, car rental business and government projects – to generate maximum revenues. “Government projects give us around 20 per cent of our total turnover and it is increasing because of the initiatives that the government is taking in terms of ensuring they don’t buy the vehicles and it will be outsourced to professionals because it is always cheap/ economical,” Vashisht said.
Vashisht also added that the company is also bidding for some State government projects for entering into bus services like in Delhi, Uttar Pradesh and Madhya Pradesh.