Arval India is the country’s largest car leasing company for corporate and management companies. It intends to invest Rs. 100 crore to increase its fleet strength in India. The complete investment will be done over a period of two years. It has already invested Rs. 25 crores in 2008 to strengthen its presence in the Indian auto market.
"We will be investing Rs 100 crore by the end of this year and further invest Rs 350 crore by 2011. We will be increasing our fleet size to 6,500 vehicles by 2011. During this calendar year, we will be increasing our number of vehicles to 1,700," Arval India's Managing Director, Liam Donnelly said.
The company was established in 2007 and currently leases nearly 1000 vehicles to the corporate world. It is wholly-owned subsidiary of BNP Paribas and marks its presence in 39 countries across the globe. It is operational in leasing market in France as well as in Europe, with 602,000 leased vehicles and 688,000 vehicles managed at the end of 2008.