Phadnis Infra plans to invest Rs 1,700 crore over 5 years
Press Trust Of India, Sun-22-May-2011, Alibag
Number Of Views: 566
Readers' opinions : Post Your Comment
Alibaug, May 22 (PTI) Infrastructure development firm
Phadnis Infrastructure plans to invest over Rs 1,700 crore in
the next five years to fuel its expansion plans.
The Pune-based business house, with focus on real
estate, hospitality, infrastructure, power, ITeS and telecom,
is eyeing over Rs 1,500-crore investment by FY'17, Vinay
Phadnis, the company's Chairman and Managing Director, said.
"We have huge growth plans for India and so have
planned to invest over Rs 1,700 crore in the next five years.
These funds would be used primarily to fuel our expansion in
the real estate, hospitality and ITeS segments," he told PTI
here near Mumbai.
The company plans to invest around Rs 600 crore in
hospitality and around Rs 1,000 crore in the real estate
businesses, he said, adding it was also making a significant
investment in its ITeS business.
"Real estate is our core business. But we also want to
focus on the hospitality sector which has a huge growth
potential. We plan to set up around 25 budget hotels pan-India
in the next few years. We are expecting revenues of around Rs
600 crore each from hospitality and real estate businesses."
The firm, which is into construction of roads, bridges
and other infrastructure projects, expecting to double its
order book to Rs 1,600 crore from the current over Rs 800
crore by March 2012, he said.
"We will be bidding for various government as well as
private projects," Phadnis said.
About fund raising plans, he said, "It will be a mix
of internal accruals or promoter funds and debt." PTI
Readers' opinions :
