Thaindian News

Chennai, May 26 (IANS) With a view to increasing its presence in the residential apartment construction space, Chennai-based Consolidated Construction Consortium Ltd (CCCL) is setting up a pre-fabrication (prefab) facility here at an outlay of Rs.45 crore, a top company official said Thursday.

“We will be setting up the prefab facility at an outlay of around Rs.45 crore in Chennai where we have our own space. We are in the process of tying up with an American company for the technology,” managing director S. Sivaramakrishnan told IANS.

According to him, the prefab facility will be mainly for constructing residential apartments - a sector the company is now looking at more keenly.

Yuga Homes Ltd, floated by the promoters of CCCL, promotes residential apartment projects. And according to Sivaramakrishnan, CCCL will be getting the construction contracts.

“Apart from Yuga Homes, we will also look at other developers who are technologically inclined like prefab structures. It is not that we entirely avoided residential projects. Out of our current order book position of Rs.6,000 crore, around Rs.400 crore will comprise of residential complex construction,” Sivaramakrishnan said.

He said CCCL will be taking equity stakes in some of the residential projects promoted by Yuga Homes.

According to him, the Rs.2,198 crore revenue CCCL’s wholly owned subsidiary Consolidated Interiors Ltd will be supplying the wooden interior parts like doors and modular kitchens for the residential apartments.

“This year, the interiors company will touch a turnover figure of Rs.50 crore up from Rs.35 crore posted last year,” Sivaramakrishnan said.

“The company will be booking Rs.70 crore revenue this year from the Rs.200 crore residential project promoted by Yuga Homes. We will be booking around Rs.400 crore revenue from the Chennai airport project and Rs.70 crore from Chennai Metro Rail orders,” he said.

Speaking about the airport terminal projects, he said the domestic terminal will be functional in September and the international terminal from November/December this year.

He said CCCL is the highest bidder for operating the car park at the Chennai Airport and a decision on that is being awaited. The car park project will be on build-operate-transfer (BOT) basis.

“Initially the contract will be for 15 years and extendable by another 15 years,” Sivaramakrishnan remarked.

About the group’s Rs.550 crore food Special Economic Zone (SEZ) promoted by CCCL Infrastructure Ltd and Tamil Nadu Industrial Development Corporation (Tidco) in Tuticorin, he said four more units have shown keen interest in setting up their units there by July/August this year while the first unit has already started operating there.