Parveen Travels, a Chennai-based travel solutions provider, is in final stages of discussions to get private equity funding of over ₹250 crore to expand its operations, said A Afzal, Chairman and Managing Director, while taking delivery of a Metrolink luxury bus fully built for it by Scania Commercial Vehicles India.

Parveen Travels will buy 50 Scania buses over the next two years to add to its fleet of over 1,300 buses, he said. The funding will help it set up a network of 50-70 Parveen signature offices across South India that will serve as one-stop-shop for the travel needs of individuals and companies. Now there are half a dozen such outlets.

Parveen Travels is into staff transport, with 800 buses shuttling employees of various companies daily and contributing to over 60 per cent of its business. Tourist services and inter-city transport contribute to the rest of the revenue, he said, without disclosing the value of the business. The private equity funding will help Parveen Travels triple its sales across all businesses.

Tourism and intercity travel will grow rapidly as there is a marked demand growth in the luxury segment. Parveen Travels plans to launch long-distance buses from Chennai to Mumbai and Ahmedabad. The advantage in road travel is that last-minute arrangements can be done, he said.

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