KTR launches Dr. Reddy's Redibike Cycle Share Program, Hyderabad

Dr. Reddy’s Laboratories Ltd (BSE: 500124, NSE: DRREDDY, NYSE: RDY) announced today that it has partnered with Cykul, India’s foremost cycling company, to launch India’s largest cycle sharing program in Hyderabad.

Dr.Reddy’s Redibike, as the program will be known, aims to promote a healthier and an environmentally-conscious alternative to traveling in city.

The program was formally inaugurated by Mr. K.T. Rama Rao, Honorable Minister of IT, Government of Telangana, in the presence of several dignitaries from the government and corporate houses.

Dr.Reddy’s Redibike opens with a fleet of 400 robust and easy to ride cycles that are available at 10 stations.

The program is currently being rolled-out in the Financial District and Gachibowli area with a 15 km stretch, from IDBI junction to Cyient. Dr.Reddy’s Redibike offers healthy and eco-friendly transportation for people moving between campuses, or covering the last mile service between transit stops and employment hubs.

The program marks a step towards a sustainability-embracing city that helps reduce the need for motorized vehicle trips and encourages cycling as a sustainable transport option.

Satish Reddy, Chairman, Dr.Reddy's Laboratories, said “We are committed to create a positive impact on the environment and the society we live in. For Dr. Reddy's, Redibike is yet another way in which we go beyond medicines to spread the message that Good Health Can't Wait.”

Deenanath Harapanahalli, CEO & Founder, Cykul said, “We are delighted to have Dr. Reddy’s as our partner, a brand that’s committed to deliver good health. Dr. Reddy’s Redibike initiative not only provides an increased mobility and transit connectivity, but also a healthy transportation option for people. This partnership with Dr. Reddy’s will further reinforce our capabilities to make Hyderabad the most cycle- friendly city of India.”

With cycles located across the designated network at secure and easy to access points, Dr. Reddy’s Redibike offers a convenient and comfortable ride.

Using the most up-to-date cycle sharing technology available, users will be able to purchase monthly passes online at RediBike.in or via a Mobile app. The user will be issued a Dr. Reddy’s Redibike smart card only after a thorough verification. The system will also use efficient redistribution to ensure smooth operations and adoption amongst the Cyberabad commuters. The charges for using the cycle facility is Rs. 375/- per month and it will remain in operation from 6 AM till 10 PM on week days.