Subhash Projects Group to double headcount

Subhash Projects & Marketing Ltd has announced that Subhash Group has announced its plans to double its headcount from the current 1000 to 2000 in the next 18th months and diversify into other Infrastructure verticals as part of its expansion plans for 2006-07. This expansion will double the Company's revenue for the current financial year and position it as one of the key Indian Infrastructural players. The Company's revenue for the last fiscal was Rs 400 crore. The Company is also planning to invest amount Rs 750 crore in the renewable sector in the next five years.

The Company has over 25 years of experience in large-scale turnkey projects in the public and private sector. With an expected turnover of over Rs 800 crore for FY 06-07, SPML has operations throughout the country. The Company undertakes multidisciplinary Engineering consultancy and service across Water management, Power generation, transmission and distribution, Environmental engineering Infrastructure development. The Company is developing the Puducherry port in collaboration with Delhi-based Om Metals Infraprojects Ltd. The Company is currently executing projects in all almost all the States across the Country.

Speaking on the occasion, Anil Sethi, Chairman, Subhash Group said, "Our recent diversification out of Water and Power into Waste Management along with our efforts to join the select group of Companies working under Government agencies to reach electricity to Indian Villages, has had our turnover and profits spiral upwards. We have contracts for Bihar, west Bengal and Uttar Pradesh, covering a total of 8000 villages under the Rajiv Gandhi Grameen Vidyutikaran Yojna. We are committed to support the efforts of the Indian Government, in making basic amenities (water & Power) available to Indian Villages."

"At present we have projects worth Rs 2,400 crore to be implemented over the next two to three years. We are also looking at opportunities abroad in west Asia & Africa" added Mr. Sethi.

"In addition to our existing business interests, we are very much interested to forey into various other infrastructure verticals. This will help us to achieve our much-desired goal of achieving a pan-India presence", said Mr. Deepak Sethi, SPML.

"To keep the winning momentum and thrive in the competitive market, we need skilled workforce as they provide the much needed impetus for growth of our industry and brings along with them innovative and winning ideas," added Deepak.

Source : Equity Bulls

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