Friday, November 6, 2009

IRB aims to become debt-free, paving way for acquisitions

Virendra D. Mhaiskar, chairman and managing director of IRB Infrastructure Developers Ltd, says the future could be big road projects such as expressways and allied infrastructure
IRB can execute projects worth around Rs6,000 crore from internal accruals and has around Rs1,500 crore to Rs2,000 crore of head room to bid for projects.

What next? Mhaiskar says the future could be big road projects such as expressways and allied infrastructure.

IRB had already entered into real estate and airport development after winning the mandate to develop a new airport in Maharashtra’s Sindhudurg, 90km from Goa, at an estimated cost of Rs150 crore. It has also proposed an integrated township of 1,400 acres along the Mumbai-Pune Expressway.

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