‘It is always better to spread your wings’

Font Size

Print

Feedback

Email

Discuss

Related Articles

Gold the most preferred investment

: sq ft of space encompassing IT parks, offices, residences, malls and multiplexes, 4- and 5-star hotels, serviced apartments, recreational areas and club houses. Our second-largest initiative is a 10-million sq ft residential project coming up in Chennai.

We are also on the lookout for retail projects in Bangalore, Vijayawada, Visakhapatnam, Chennai, Cochin and Gurgaon. We will opt for an integrated approach or an independent approach to retail projects, depending on demand in the areas concerned. For instance, if a city needs an integrated project with residential, commercial and other entertainment space, we will develop a project on those lines. But, if it needs only a mall, we are open to that idea as well. We might develop these projects on our own or through partnerships.

How is the construction business doing?

Construction was our original business, but at some point, we went slow in the segment to be more of a developer. Today, we realised the need to strengthen our construction business. Our current focus in the construction business is on four verticals: buildings, industrial projects, transmission & distribution, and roads. This division is growing aggressively and there is a huge in-house requirement for manpower. So, to support that, the company adds at least 100 people a month.

Taking into account the boom that we are predicting in the construction industry, and to keep a control on the projects we have undertaken, we are again investing in our construction business. We are giving a boost to the business by adopting a path completely different from other construction companies’. We are investing in high technology to reduce manpower requirement and ensure timely delivery of projects.

In 2008-09, we expect a huge jump in our construction revenue, from Rs 1,500 crore to Rs 4,000 crore. We will become one of the top five construction companies in the country.

You were planning to tie up with an international airport operator to bid for aviation projects. Has this been finalised?

We already have a partner to handle small airport projects. But for large airports, we are still scouting for a suitable partner. It will take some time. Infrastructure, in general, is a very slow-moving business. There are opportunities in India, but for immediate bidding, there are very few. So, right now, our strategy is to have a partner in place, understand the business and try and focus on the limited opportunities that are coming up.