Ahluwalia Contracts India today said it is looking for acquisition or tie-up with a specialised construction firm to help it become an integrated urban infrastructure company.
The acquisition will enable the construction company to execute value-added construction projects, like developing multi-level parking and building concrete roads, a company official said.
"We are aspiring for inorganic growth and is looking at acquisition or strategic tie-up with specialised construction companies," company Executive Director S K Sachdeva said.
Currently, it is more into building hotel and hospital projects. He said an acquisition or tie-up could happen in India as well as in overseas markets.
Asked about investment it has earmarked for this purpose, Sachdeva said: "Funding is not a problem. We already have Rs 100 crore cash in our books and if we require more, we will raise it from financial institutions. We want to become an integrated infrastructure firm with an urban focus."
Sachdeva said the company has an order book of Rs 5,400 crore of which Rs 3,400 crore is executable in the next two years. He also said the company is expecting to bag contracts worth Rs 1,500 crore in the coming months.
Among the big-ticket contracts it Ahluwalia bagged in recent times are the Rs 336-crore project to develop Bata Nagar City in Kolkata. In 2010, the company has announced that it has bagged projects worth Rs 927 crore.
The company posted a consolidated net profit of Rs 81.77 crore in 2009-10 against Rs 57.28 crore in 2009 fiscal. It's total income rose to Rs 1,617.5 crore from Rs 1,191.63 crore in the review period.
