mJunction eyes Rs.50,000 cr biz by FY13

KOLKATA, INDIA: India's largest e-commerce company mJunction Services Limited is eyeing a total transaction value of Rs.50,000 crore by FY13, a top company official said on Thursday.

"The value of e-transaction of Rs.24,854 crore achieved in FY11 after 10 years of growth will be doubled to Rs.50,000 crore by FY13. What we have done in 10 years we hope to do it in two years," mJunction managing director Viresh Oberoi told reporters here.

The company began operations in 2001.

Oberoi said for the first five years the growth engine for the company was its metal e-sales division metaljunction, and for the next five years the growth engine will be coal e-sales division coaljunction.

In the next two years buyjunction, another division, will be the growth engine for the company, he said.

"Currently, we are looking at inorganic growth for our company," he said.

Oberoi said the company was looking for overseas strategic tie-up and acquisitions for buyjunction.

"We are looking for strategic tie-ups and acquisitions for buyjunction in Europe and the US," he said.

Saying that more and more imported coal was coming in India, he added: "We are actively engaged in selling imported coal."