City-based DRS group with interests in logistics, supply-chain management, warehousing and education, is entering the pharmaceutical business with the launch of its new division, DRS Labs, at Medchal, near here.
The new division will commence operations with a capital of Rs 10 crore and initially focus on contract manufacturing. The manufacturing facility, spread over nine acres with a built-up area of 40,000 square feet, is fully equipped to manufacture over 300 tonnes of tablets, capsules, liquids and ointments. It will provide direct employment to 200 and create indirect employment opportunities for over 300 people, the company said in a release.
“The new unit will commence its operations with contract manufacturing and will target Rs 50 crore turnover in the first year,” DRS group director A K Agarwal said.