mjunction achieves milestone turnover of Rs 10,314 cr in FY 08

Mumbai, June 3 (UNI) mjunction services limited, India's largest eCommerce company, a joint venture between SAIL and TATA Steel, registered a milestone turnover of Rs 10,314 crore in FY 08.

It unveiled 'Vision 2013', setting itself a target to generate a cumulative transaction value (T.V.) of Rs 50,000 crore by FY 2013, a mjunction release here said.

mjunction plans to achieve this five fold growth through its existing six strategic business units - metaljunction, coaljunction, buyjunction, autojunction, straightline and mjunctionedge, by a combination of expansion in the domestic market and tapping opportunities in the international markets, the release said.

Founder CEO and Managing Director Viresh Oberai said, ''We have created immense value in terms of efficiency, convenience and transparency in the supply chains verticals, we have entered. In FY 09, the focus of the company would be on consolidating its presence in the existing verticals, by building adjunct services and getting into new geographies.'' The company would also be looking at inorganic growth through strategic acquisitions.

metaljunction, the steel eSales business unit of the company traded 2.25 million tonnes in 2007-08 and estimates sales of around 2.60 millions tonnes of steel this fiscal. The increase was attributed to additional volume from its new clients as well as expansion of its product portfolio. Since its inception in 2002, metaljunction has sold over 6.5 million tonnes of steel, establishing it as the world's largest steel eMarketplace.

The other matured businesses, which will also add to the growth story, includes coaljunction which is scouting for the new global clients to meet the country's growing coal demands. From last year's 9.62 million tonnes, coaljunction expects to sell around 19 million tonnes of coal this year.

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