Pratibha Ind bags Rs104.97 crore DMRC order

The project work is required to be completed in 18 months

Construction firm Pratibha Industries said that it has bagged Rs104.97 crore contract from Delhi Metro Rail Corporation (DMRC).

“The company’s joint venture with Aparna Constructions and Estate Pvt Ltd has secured a contract for construction of depot cum workshop on East West Corridor for Stage 1 of Jaipur Metro from DMRC,” Pratibha Industries said in a filing to the Bombay Stock Exchange. The project work is required to be completed in 18 months, the filing added.

In the late afternoon, Pratibha Industries was trading at around Rs40.35 per share on the Bombay Stock Exchange, 6.61% up from the previous close.

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Toyota launches new Prius at Rs27.39 lakh

"The introduction of the new Prius is our sincere effort to bring in advanced hybrid technology to India to develop such a market here" Toyota Kirlosakar Motor said

Japanese car maker Toyota on Saturday launched a new version of its hybrid sedan Prius in India that is priced between Rs27.39 lakh and Rs29.41 lakh (ex-showroom, Delhi).

The company, which is present in India through a joint venture with the Kirloskar Group, had first introduced the world’s best selling hybrid car in 2010.

“The introduction of the new Prius is our sincere effort to bring in advanced hybrid technology to India to develop such a market here,” Toyota Kirlosakar Motor (TKM) deputy managing director (commercial) Shekar Viswanathan told reporters at the 11th Auto Expo.

The new Prius will have solar ventilation system in addition to the existing battery technology, he added.

“We hope to see more Prius customers and contribute to the growth of the Indian hybrid market and thereby contribute to a greener tomorrow,” Mr Viswanathan said.

The company has so far sold 150 units of this car since its launch in India in 2010, he said. Mr Viswanathan, however, declined to share any sales target for the new Prius in India.

Japanese auto giant had first introduced the vehicle in 1997 and has already sold 24 lakh units across the world. Besides the new Prius, TKM on Saturday launched a specially designed seat for Corolla Altis for passengers having leg and knee problems.

The product, Easy Seat, will be available as a retro-fitted accessory and is priced at Rs29,979.

“The Easy Seat has a mechanism that enables the seat to swivel and slide. It can be slid and turned with ease, allowing easy entry and exit for those with special mobility needs," TKM general manager (marketing division) R K Ramesh said.

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Srei Infra plans retail taxable bonds next year

Srei Infra had hit the retail bond market with its Rs300-crore tax-free infrastructure bonds that will remain open till 31 January 2012

Buoyant about the infrastructure sector, Srei Infrastructure Finance (Srei) is evaluating to tap the retail market with taxable infrastructure bonds next year.

“We are planning to broad-base our resource mobilising options. We will definitely evaluate to tap the retail market with taxable infrastructure bonds in the next financial year,” the company CFO, Sanjeev K. Sancheti, said.

The company is also planning to foray into mutual funds through its first infrastructure debt fund and is likely to enter the same in 2012-13, Srei Infra joint managing director, SI Siddique, said.

The company had hit the retail bond market with its Rs300 crore tax-free infrastructure bonds that will remain open till 31 January 2012.

Mr Siddique said despite some slowdown in the infrastructure sector, the company is optimistic in its long-term prospects and thus it would continue to raise resources.

Srei Infra has a total market borrowing of Rs13,000 crore as of September 2011. Around $100 million is in foreign currency, of which one-fourth which will face maturity has not been hedged. However, Mr Siddique said that this is not going to impact the company much.

About overseas fund raising, Mr Sancheti said the company will soon raise around $15 million (around Rs75 crore) through the ECB route from Austrian Development Bank.

The company is expecting 25%-30% growth in disbursement in the current fiscal against Rs14,400 crore last fiscal.

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