Riding high on a Rs 4,000 crore orderbook and around Rs 800 crore worth projects in the pipeline, Leighton Welspun Contractors today said it is open to acquisitions to spur growth in India.
"We are open to acquisitions in any of the areas of our operation like oil & gas, building, infrastructure and mining. But, these should make business sense and fit into our scheme of things," company Managing Director Russell Waugh told PTI.
He, however, said Leighton Welspun Contractors is yet to identify any target for acquisitions; but would consider any proposal in areas of its operation, if it comes into its way.
A 65:35 joint venture between Australian Stock Exchange - listed Leighton Holdings and Mumbai-based Welspun Group, the venture has Rs 4,000 crore orders, as on September-end. This includes Rs 450 crore fresh order received in current fiscal.
Leighton had came to India long back. However, it entered into a joint venture agreement with Welspun Group earlier this year and since then, it is operating its business in India through the joint venture.
The company was hopeful of bagging additional contracts worth Rs 800 crore in the remaining period of the current fiscal, he said, adding that the existing orderbook is to be executed over a period of four years.
Leighton Welspun Contractors had recorded Rs 1,900 crore revenue in the last fiscal. This is going to go up to around Rs 2,200 crore in the current fiscal, Waugh said.
Asked whether the company was looking at raising funds, he said, "We are a debt-free company. We are not immediately considering any such proposal".
