GVK Power and Infra to bid for 25 road projects in FY12

Posted By: Religare
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GVK Power and Infra to bid for 25 road projects in FY12
GVK Power and Infrastructure, which builds roads, airports and power plants, will bid for 25 road projects in the financial year 2012 and is also expecting to monetize a part of Mumbai airport land in the forthcoming 2-3 months. 

Chief Financial Officer, Issac George, reported that the company may have many road projects lined up for bidding in 2011-12. He added that in the forthcoming 2-3 months the company expects monetisation of 3.5 million square feet of airport land in Mumbai, out of the total 20 million sq ft.

The company"s order book stood at Rs. 12,000 for March 2011 and the net debt for the same period was Rs. 5,000 crore. It is reported that the company would be bidding for more projects and this would be help it to enhance order book and net debt positions.

At 03:07 PM, on BSE, shares of the company were trading at Rs. 23.40, up by 2.63 per cent against the previous close of Rs. 22.80. The shares of the company reached the day's high at Rs. 23.60 and day's low at Rs. 22.50.

Story first published: Tuesday, May 10, 2011, 9:30 [IST]
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