Pune (Maharashtra) based Mahaganpati Multi-State Co-operative Credit Society has launched NBP Logistics Company, marking its entry into the logistics sector with a target of generating business worth Rs 1,200 crore.
Announcing the venture at the society’s 14th Annual General Meeting, Founder Chairman Vikas Bengade Patil said the company would undertake logistics operations for automobile manufacturers, including BMW, Mercedes-Benz, Tata Motors and Maruti Suzuki, facilitating the transportation of vehicles.
Patil said the initiative aims to expand the society’s business activities beyond conventional deposit and credit operations while creating employment opportunities for members’ families and strengthening their financial position.
He emphasised that the Mahaganpati Group would focus on new business opportunities, professional training, modern technology and investment to promote economic growth.
The AGM also witnessed the announcement of an 18% dividend for members. Chief Executive Officer Samadhan Sannake presented the annual report, highlighting the society’s financial performance and activities.
The society reported a profit of Rs 7.78 crore during the reporting year. It operates through 32 branches and employs 205 people.
More than 5,000 members and well-wishers attended the meeting. The society also provided Rs 10 lakh in financial assistance to the two sons of a deceased member, with each receiving Rs 5 lakh.
