From L-R (Mohammed A Aslam, Director; Mohammed A Aarif, Director; Mohammed A Afzal, Chairman and MD; Mohammed A Sadiq, Director)
~Marking the 50-year journey, becomes one of the few travel conglomerates to introduce Rolls-Royce to its fleet ~
~ Initiates a new strategic ‘Go-Green’ initiative with the introduction of battery operated luxury vehicles by the year 2019 ~
~ Chalking the aggressive growth in the coming years – In Talks with Investment bankers to raise Private Equity to the tune Rs. 250 Crores ~
Chennai, 6 December 2017: Chennai-based AB Business Enterprises, parent company of Parveen Travels celebrated the 50th anniversary milestone of its successful operations at the ITC Grand Chola Hotel today. More than 300 guests, including business partners, customers, distributors and employees, attended the grand celebration.
A Coffee Table book enumerating the 50-year journey was launched on the grand occasion by the Chief Guest, Prince of Arcot His Highness Nawab Mohammed Abdul Ali Azimjah, and presided by Guests of Honour, Mr. V. Palanikumar, IAS, Commissioner of Tourism and Chairman & Managing Director Tamil Nadu Tourism Development Corporation, Mr. N. Murali, Chairman Kasthuri & Sons Limited (The Hindu Group of Publications) and Mr. Shreevats Sanjay, Deputy Director General (South), Ministry of Tourism, Government of India.
Establishing itself as a premier travel and tour service provider a Rolls-Royce limousine was inducted into the elite fleet, catering to the discerning customer and vehicle base. The newly inducted uber-luxurious limousine will cater to the needs of the elite community, star hotels and international passengers
Augmenting its growth strategy, and charting a new road map for accelerated growth in the coming years, the company announced that they are in talks with investment bankers to raise INR 250 Crores in the coming months from private equity.
A strategic road map to ‘Go-Green’ was also unveiled today. AB Business Enterprises recently signed a MOU with Hungary-based Csepel Holding Plc. to bring 100 battery operated inter-city luxury buses on Indian roads for transportation of passengers. The company is also in talks with various investment bankers for raisingprivate equity of Rs. 250 Crores.
From its humble beginning in 1967, AB Enterprises has come a long way having a fleet strength of over 1,500 vehicles, and becoming one of the most preferred travel company in South India.
Speaking at a press conference before the event, Mr. Mohammed A. Afzal, Chairman and Managing Director AB Business Enterprises said, “Today we celebrate the 50th anniversary of AB Business Enterprises by launching the first Rolls Royce for our Elite Charter Division. The Rolls-Royce will be one-of-its-kind luxury car offering an unmatched premium experience to our customers who will now be able to travel in absolute luxury and comfort. We are also proud to sign an MOU to bring battery operated luxury vehicles on Indian roads – this is one of our many initiatives in support of the Government’s ‘Go Green’ programme. Parveen Travels has been a household name in South India and has always been an industry leader and trendsetter in the transport industry. In order to propel the growth of the company to even greater heights, we are in talks with leading Investment bankers to raise private equity funding to the value of Rs. 250 Crores.”
AB Business Enterprises was founded in the year 1967 by Late. Haji Janab Allah Baksh, and has grown today as a travel and transportation conglomerate having seven verticals – Transportation, Logistics, Hospitality, Automobiles, Tourism, Training and Consultancy.
About AB Business Enterprises:
AB Business Enterprises is the dream and vision of one man, Late Haji Janab Allah Bakshi who strongly believed that providing the right customer service can do wonders. Following his footsteps and dedication, the company today as a travel and transportation conglomerate offering many customer friendly initiatives such as Digital Travel solutions, On Board connectivity, GPS monitoring, etc. The company has a fleet strength of over 1,500 vehicles inclusive of Multi – Axle Buses, Automatic Suspension Bus range, Coaches, Tempo Travellers, SUV and Cars. Parveen’s vehicles are categorized into Economy, Comfort, Premium and Luxury. As an one stop travel solutions company, Parveen Travels offer end to end solutions including bus ticketing, air ticketing, domestic and international holiday packages, passport and visa assistance and forex. The company has been awarded as the best travel and tourism company in South India, by numerous National and International Associations. Going forward, the brands of AB Business Enterprises are creating quality entities that stand high through efficient customer service, quality service, innovation, trust and values while maintaining the interests of diverse stakeholders including shareholders, employees and society.