Prydo plans to invest Rs. 100 Cr in the next 12 months to expand services into New Delhi and other metro cities across India
Hyderabad, Thursday, September 26th, 2019: Hyderabad based Venkata Praneeth Technologies Pvt Ltd, a tech start-up promoted by well known real estate company Praneeth Group today announced the launch of cab-hailing services under the brand ‘Prydo’ in Hyderabad. The company has successfully completed the on-boarding process of over 14,000 driver-partners and the services will formally commence from Sunday, 29th September 2019.
‘Prydo’ mobile application will be made available in Android Play Store and iOS App Store from today onwards. The unique business model of ‘Prydo’ ensures surge-free rides for customers and empowers the driver-partners with a slew of welfare measures. Prydo will offer its services in three categories – Hatchback, Sedan and SUV.
Prydo plans to expand its services into Delhi and Bangalore in the next six months. Further, the company will extend its services to all metro cities by the end of the financial year 2019-20. The company plans to invest Rs. 100 Cr during the next 12 months for national expansion.
Announcing the launch of Prydo, Mr Narendra Kumar Kamaraju, Founder & Managing Director, Prydo said, “We are delighted to launch Prydo’s cab-hailing services in the Hyderabad market. Safety, Security and the conveyance of riders and welfare of driver-partners are our top-most priority. We have integrated Prydo app with Telangana Government’s Hawk-Eye application to ensure the safety of riders. We feel the cab-hailing industry has a huge growth potential that needs to be unlocked. We are hopeful of completing over one million rides in the next 3 months in Hyderabad.”
He further added, “Prydo Cabs takes immense pride in introducing some of the revolutionary industry-first concepts in the cab-hailing market. Prydo Cabs firmly believes in the motto ‘Happy drivers make happy riders’. Prydo empowers its driver-partners with an ecosystem that guarantees them the level playing field with equal opportunities in business as well as the peace of mind.”
Prydo will charge a commission in the range of 0-10% from driver-partners depending on the number of rides per month. The company charges less/zero commission for higher number of rides on a monthly basis to avoid exerting pressure on them. Prydo also ensures transparency in billing and invoice system.
Prydo will offer the following features which are first of its kind in the cab-hailing industry.
Assured Rides – This feature assures user a cab for a set period of time in advance – a week, a month etc – at pre-decided timings. User can edit the timings or dates in the ride calendar as per their convenience.
Bulk Rides – This is a tailor-made feature for special occasions. Users can book a particular number of (in bulk) cabs for the guests attending their functions – Multiple pick up points to a single destination and single pick up points to multiple destinations.
Return Compensation – The driver-partners usually incur losses when they have to travel a long distance to drop riders and come back to the nearest location where they can get a booking. Prydo has earmarked a geo-fencing around Hyderabad. Prydo will compensate the driver-partner for the distance covered from long-distance drop location to the geo-fencing area making up for the loss incurred by the driver-partners.
Long term pick up Fee – Some times, a rider may not get a cab immediately when there’s no cab in his/her surroundings. If the rider is ready to pay more for a cab, the driver-partner will be deputed for long-distance pick up and rider will bear the extra cost.
About Prydo & Praneeth Group:
Prydo is a brand of Venkata Praneeth Technologies Pvt Ltd, a tech start-up promoted by Praneeth Group, widely respected real estate company in Hyderabad. Prydo aims to disrupt the industry by establishing itself as a global cab-hailing service provider.
Praneeth Group is one of the leading and most trusted real estate companies in Hyderabad. Established in 2007, the group believes in delivering services with trust and quality. One of the pioneers in engineering and design, the group has an edge in the real estate business in Hyderabad. It has delivered over 4,000 units in the past 12 years.
Over the years, the company has successfully completed 22 projects in and around Hyderabad. With an overall turnover of Rs. 300 Cr, Praneeth group is looking to expand aggressively over the next few years. The group boasts a fleet of over 500+ employees across various verticals.
Praneeth Group has also successfully strengthened its presence in other verticals such as Concrete, UPVC doors and windows, interiors to complement its real estate business. The group has recently diversified into other sectors like education, pharmaceuticals and technology.