Kolkata, March 26 (IANS): Indian car rental aggregator firm Ola Cabs on Thursday said it is planning to increase its driver sign-ups in Kolkata from the current 1,500 to 5,000 in the coming three months.

"In the coming three months, our aim is to increase the number (of driver sign-ups) to 5,000 from the present 1,500," the company's head of strategic initiatives, Puneet Singh Arora, told media persons here.

The increase of the new sign-ups will result in addition of new 3,500 cabs meant for car rental in the city.

He said the car rental firm does not own the cars but signs-up with the drivers who are the actual owners of the cars. The company operates its services on a revenue sharing model.

It also has an auto-rickshaw rental service in seven cities.

"Nationally, we have over one lakh driver sign-ups, of which 80 percent are cars including sedans and hatchbacks and the rest 20,000 comprises of auto rickshaws," he said.

Arora said the organised car rental market in India is still at a nascent stage and comprises only 10 percent of the car rental market.

Asked if the company is considering launching auto-rickshaw rentals in Kolkata or expand to other cities, Arora said, "We consider introducing new services based on the city's requirements."

An official in the company said it is growing by 40 percent on a month-on-month basis and wishes to retain the momentum.