"These acquisitions will enable SMPL to cater the fastest growing realty and infrastructure markets in southern part of the country,"said Y S Chowdary ,chairman of Sujana Group of companies.
The latest acquisitions by SMPL are in line with the company's strategy to enhance the capacity to one million tonne per annum by 2010 through acquisitions and expansion plans.
The company had earlier acquired Kamini Steels and Handum Industries.
SMPL has targeted to reach a sales level of Rs 3100 crore by 2010. In the current financial year (July 2007-June 2008), the company's sales turnover is expected to be in the range of Rs 1,400 crore. The company also plans to enhance its profit from an estimated Rs 50 crore in the current financial year to Rs 300 crore by 2010.