Pooja Sarkar / DNA

Mumbai: Mjunction, the e-services company promoted by SAIL and Tata Steel, is set to enter the retail market.

"What we are getting into in the immediate future is the retail surplus," Viresh Oberoi, MD and CEO, mjunction services limited, said. "This is a very new area... here we are talking about stocks which are unmoved. We are in discussion with some of them. We have not yet tied up with any, but we will be launching it by the end of this year."

With companies increasingly looking to cash their non-performing assets (NPAs), mjunction has come into a healthy position in the e-services market, with total transactions of Rs 45,193 crore till date. Given the volatile market, Oberoi sees business growing in leaps and bounds.

The company's land and building services venture, called valuejunction, is in final stages of discussion with companies, which may be outside India but have NPAs in India, which valuejunction will sell.

Valuejunction, which tied up with the Asset Reconstruction Co (India) Ltd (Arcil) in August to sell NPAs, has already done a business of Rs 7,500 crore. "Arcil is giving us more flats and it is even giving us other NPAs, which they would like us to sell. We receive fresh mandate everyday and what we are getting into is land and building as we see huge opportunity here." Oberoi said.

The past year was a turbulent one for realtors across the country and a number of buyers also defaulted on repayments. The maximum number of flats to have come under NPAs is in western India, followed by the southern and northern parts.

Mjunction also has an equipment-selling venture, which mainly deals with bringing new equipment and other manufacturing parts from companies in developed countries, which need to dispose them off and sell them here.

"So, if there is a company which is upgrading its manufacturing facilities, the old facility needs to be sold and obviously sold at price which makes sense to them and in a transparent manner... We are looking at the opportunity of Indian companies buying such plant and machinery," said Oberoi.

"We are now also looking at Asean countries and are discussing with them. We haven't started selling anything for them --- that's another opportunity," he said.