Valecha Engg bags projects worth Rs 100cr

Valecha Engineering has recently won new projects worth Rs 100 crore for Integrated Road Development Project (IRDP) at Pune and Udaipur Tunnel Project at Udaipur, the company informed the Bombay Stock Exchange today.

The Rs 250 crore company is primarily a player in the road constuction business, from which it derives 70% of its revenues. Its road projects are present across many states in the country.

Recently it has stated plans to enter new infrastructure verticals such as development of ports, real estate, airports and metro rail projects. The company has adopted the route of joint ventures with domestic and international players in achieving its ambitions. It also has a subsidiary in Dubai.

Some private equity players are vying for a 40% stake in Valecha Infrastructure, a subsidiary of the company, which would help it to raise funds for carrying out its orders.