Subhash Projects eyes Rs 10 bn incremental business

July 1st, 2008 - 7:37 pm ICT by IANS  

Kolkata, July 1 (IANS) Engineering construction and project management company Subhash Projects & Marketing Ltd (SPML) plans to generate Rs.10 billion incremental business from urban infrastructure in the next three years, a top company official said here Tuesday. “We are planning to generate an incremental business of Rs.10 billion by 2012 in urban infrastructure development,” said S.C. Sethi, SPML vice chairman.

The company has so far focused on areas like water and power sectors. But now it wants to diversify by entering into urban infrastructure development.

SPML has received pre-qualification for two airport terminal projects at Indore and Raipur by the Airports Authority of India. The final bidding would take place after two to three months. SPML has chalked out an investment of Rs.3 billion for revamping each airport.

The company would carry out the revamping work along with a Thailand partner. It would be a cash contract project.

Apart from the airport project, it has also won the pre-qualification bids for urban transport projects like metro rail project in Kolkata and bus terminus projects in Bangalore and Bhubaneswar.

“SPML is also bidding for the dedicated freight corridors in Uttar Pradesh and Bihar,” he added.

The company has pre-qualified for the bidding of the first phase of the Rs.170 billion freight corridor project.

In the current fiscal, the prime focus of the company would be on water management. It has taken up two water management projects — one in Latur and the other in Bhiwandi town in Maharashtra — from Tuesday. Both the projects would be executed on build-own-operate-and-transfer (BOOT) basis.

The company’s net profit jumped 33.44 percent during 2007-08. It has announced a dividend of 60 percent.

Upbeat at the growth prospect of the company, Sethi said: “We have .35 billion worth project orders in hand which will be executed in the coming two to three years. We will continue to experience the same top line in the current fiscal.”

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