Ahluwalia Contracts Plans To Acquire Construction Firms
Ahluwalia Contracts (India) Ltd plans to acquire specialised construction firms for up to Rs 100cr funded by internal accruals. The company is hoping to seal the deal by June this year.
The company has not revealed any target companies but is in the process of identifying potential targets.
Ahluwalia Contracts is expecting new orders of around Rs 500-600cr for construction of specialised buildings like hospitals, hotels and education institutions from the Governmentv by the end of March 2010.
As on Jan 31, the company had a pending order book of Rs3,300cr.
It is also planning to foray into construction of power projects.
Transaction Reference: BS
Ahluwalia Contracts (India) Ltd , promoted by Bikramjit Ahluwalia in 1979, is an Engineering-Procurement- Construction company.
As on March 09, the company had a cash balance of Rs 57.86cr and a debt of Rs 76.24cr.
Recently, McNally Bharat Infrastructure Limited- which operates on the same line of business, acquired a Bangalore-based construction company Buildmet Pvt Ltd for Rs 37cr.
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