Praveen Travels – Rs.50,000 to Rs.120 Crores
August 26, 2008 § 1 Comment
Read this amazing growth. Parveen Travels, which opened shop with just over Rs 50,000 in the bank in 1980, did business worth Rs 120 crore last year.
As a 14-year-old, Afzal enjoyed going on rides in his father’s lorry. Often on these trips, the boy would dream of owning a fleet of cars and buses. Afzal’s father, Allah Baksh, ran a taxi service out of a small office in Purasawalkam, with a few cabs and lorries to transport cargo.
Afzal graduated with a bachelor’s degree in zoology and joined the family business.
In 1981, the company purchased its first bus. “We were not keen on seeking financial help as we knew the bankers would not support us. So, we explored options that were within our limits, based on how much we earned in a given year,” recalls Afzal. To purchase new vehicles, the company put in half the amount and got loans for the remaining.
Later on introduced night service or point-to-point operations.
A Logistics division was added in the late 80s. Cargo was initially transported on the roof of the vehicles and later in cargo trucks, when the company bagged sufficient number of orders.
Parveen today owns and operates 1,000 vehicles, of which 750 are buses
They introduced online ticketing four years ago, allowing passengers to print their own tickets.
Despite its success, the family is wary of investors. “Many investors had approached us. But once an outsider comes, they will have their own ideas about running the business. We may not be able to take decisions on our own,” he says.
The company employs 2,000 people, 37 branches. As part of its employee welfare activities, Parveen Travels runs an institute for its drivers in Madhavaram where they are trained in driving skills, fitness, yoga, and undergo regular eyetests. Every year, the top three performers among the children of company drivers are provided financial support.