Birla Corporation is planning its foray into non-core areas like realty, power and ports, apart from expanding its core businesses. The company will seek shareholders? approval to enter the realty sector at its annual general meeting on Wednesday. The company, over the past few months, has significantly stepped up its money market operations.

The company, which is mainly into cement and jute, is looking at entering the energy sector. It is interested in generation and distribution of power. Birla Corporation is also looking at developing infrastructural facilities like port and roads where it is likely to participate in construction and management of such projects.

Sources close to the development said Birla Corporation is keen on participating in the realty sector and setting up of cold storages. Birla Corporation?s interest in the realty sector includes hotels, industrial growth centres and amusement parks.

Although a major portion of the company?s revenue comes from its core activities, its non-core activities have also started looking up. Other income of the company increased to Rs 138 crore during 2009-10 compared with Rs 76 crore during the previous financial year..

Dividend income increased to Rs 21 crore in 2009-10 from Rs 12 crore in 2008-09. Profit on sale of investment also increased to Rs 34 crore from Rs 33 crore.

Interest income of the company increased significantly to Rs 11.37 crore in 2009-10 from Rs 1.30 crore during the previous fiscal.

Meanwhile, Birla Corporation management has been facing resistance from a section of shareholders who moved court against the company?s decision to invest into short-term money market instruments.

Net profit of the company during 2009-10 increased to Rs 137.50 crore during 2009-10 from Rs 90.61 crore during 2008-09.

Although the company is yet to have shareholders? approval for money market operations, it is learnt that Birla Corporation has taken the membership of Clearing Corporation of India to deal on collateralised borrowings and lending obligation platform.

The company went for a postal ballot on June 16 to amend the object clause of the memorandum of association of the company. The resolution was passed by a two-third majority.