ITNL eyes Rs1,300 crore revenue from road projects

The infrastructure company has received a 300-km road work order worth $1.5 billion from Kazakhstan

IL&FS Transportation Networks (ITNL), which got listed on the National Stock Exchange today, has said that it is eyeing revenue of Rs1,300 crore from road and transport projects over the next three years.

“We have orders worth Rs12,000 crore till date and will be executing them over three years. We are eyeing Rs1,300 crore revenue from these project orders,” ITNL managing director, K Ramchand, told reporters on the sidelines of the listing ceremony here.

“We will continue to maintain our growth at 25% in the next three years,” Mr Ramchand said.

ITNL is one of the leading private sector build-operate-transfer (BOT) road operators in India. The company is engaged in the development, operation and maintenance of national and State highways, roads, flyovers and bridges across India.

“We want to diversify into the urban infra space on the railways side. In our current portfolio we have completed eight projects and 11 are under construction,” Mr Ramchand said.

“We have received a 4.8-km metro rail project at Rs 1,000 crore in Gurgaon and will start construction work in the next two-three months. We will complete the project within three years,” he said.
ITNL also plans to foray overseas, Mr Ramchand said, adding that the company has received a 300-km road work order worth $1.5 billion from Kazakhstan.

“We will start construction work in the next four-five months in Kazakhstan and will complete the project within three years. We expect more mega-project orders from both domestic and overseas markets in FY11,” he said.

The company plans to bid for at least six-eight mega projects worth around Rs4,000 crore in the next three months, Mr Ramchand said.

ITNL raised Rs700 crore from the capital market and will use the net proceeds to repay its debt and also for expansion.

“The company has around Rs1,000 crore debt and plans to repay Rs550 crore from the proceeds and (the) balance would be utilised for our expansion plans,” he said.

ITNL listed today at Rs287 on the Bombay Stock Exchange, a gain of 11.24% over its issue price. On the National Stock Exchange, the stock listed up 3.35% at Rs266.60.

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