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The Economic Times
The Economic Times
Business

State-owned Balmer Lawrie to demerge Travel & Vacations unit

IRCTC

Kolkata: Diversified PSU Balmer Lawrie & Co Ltd has granted in-principle approval to demerge its 'Travel & Vacations' strategic business unit into a wholly-owned subsidiary, a move aimed at giving the division operational agility and positioning it to cross Rs 500 crore in revenue within two to three years, a top official said on Monday.

The Travel & Vacations division currently has a turnover of Rs 390 crore, accounting for around 13 to 14 per cent of Balmer Lawrie's total revenue.

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