Consolidated Construction Consortium Ltd (CCCL) has bagged orders from various segments of the industry and is one of the leading players in the industrial and the infrastructure segment. In an exclusive interview with FE?s Sajan C Kumar, R Sarabeswar, chairman and CEO, CCCL, shares his plans. Excerpts.
What is the status of the special economic zone (SEZ), exclusively for food processing, at Tuticorin in Tamil Nadu?
The ?Pearl City Food Port? is a 400-acre SEZ with sites for global food manufacturers wanting to expand their reach throughout India . The SEZ, which has an estimated investment outlay of close to Rs 500 crore, will have its own secure residential township with provisions for housing school, healthcare facilities and recreation. It will also have shopping areas for its employees, expected to hail from all over the globe. We expect it to be complete in five years.
What is the news on airport expansion projects in Chennai andThiruvananthapuram?
The Chennai airport project is likely to be completed by August 2011 and the Thiruvananthapuram project by June this year. The factory-buildingorder for Apollo Tyres is for Rs 58 crore. We have pre-qualified for 12 projects in the road sector.
What is the current order book? What are focus area in the current fiscal?
The company has an order book of Rs 3,700 crore. In the current fiscal, we will add Rs 1,000 crore to the book. We would focus aggressively on infrastructure and urban car parking projects. The company would require Rs 50-60 crore capex this fiscal. The funds will be tied-up internally. We are not keen on external funding like private equity and VC at this point of time, but may consider it for its subsidiaries, if we find suitable suitors.
How did you the company perform last fiscal?
The financial results are gratifying and we aim to consolidate our presence in the infrastructure sector. We are venturing into emerging opportunities in the power and pipeline sectors as a EPC/BOP contractor. We foresee good prospects. CCCL has received orders worth Rs 225 crore in the month of April 2010, and is in the process of negotiating orders worth Rs. 600 crore.
The total revenue for the year ended March 31, 2010 on a standalone basis stood at Rs1,950 crore as against Rs 1,755 crore and profit after tax (PAT) at 93.56 crore as against Rs 69.05 crore. The company’s year-on-year net profit increased appreciably by 35%.
CCCL has not tested the overseas market yet. What are your plans for the overseas market?
We have a tie-up with Dubai based Al Ghurair Group and have been executing projects in West Asia for quiet some time with the help of the group. Though we have not formed a joint venture, they are the local partners in that market. We would continue to do projects with them.