Company News
Mjunction, a 50:50 joint venture between SAIL and Tata Steel, has moved beyond its traditional strengths in commodities trade to embark on new businesses like real estate and sports solutions. It is also keen to partner Railways and its subsidiary companies to offer a platform for selling their scrap and idle assets. In this interview with Jayajit Dash, mjunction services limited's MD & CEO Vinaya Varma tells that the company eyes 40 per cent CAGR topline growth through 2023, betting on India’s e-commerce boom.mjunction services has recently forayed into real estate vertical, auctioning commercial plots. Beyond UP, which other states are on your radar? Are you also looking at tie-ups with real estate developers?
mjunction entered the real estate sector with Uttar Pradesh Awas Vikas Parishad and currently, we are customising the platform for Uttar Pradesh State Industrial Development Authority (UPSIDA) where e-auctions will begin soon. After we consolidate our position in Uttar Pradesh, we will target other states.
How does mjunction intend to expand its sports solutions vertical? Beyond cricket, how do you aim to engage other popular sports?
There is a large opportunity for sports federations to bring in transparency and efficiency in several areas. We have a tie up with Sporty Solutionz to create digital solutions for cricket as well as other sports.
In the Railways sector, what bigger deals are you looking to seal? Any partnership on the cards with subsidiaries and Rail centric companies like Rites, IRCTC, IRFC or RailTel?
mjunction has worked very closely with Railways and RITES for successful completion of projects like jungle clearance, inventorying, valuation and e-auction.
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