Financial Daily from THE HINDU group of publications
Monday, Apr 11, 2005
Financial Daily from THE HINDU group of publications Monday, Apr 11, 2005 |
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Corporate
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Outlook Voltas betting big on overseas projects — Hopes to corner Rs 1,000-cr revenue by 2008 Neha Kaushik
New Delhi , April 10 TATA Group company Voltas Ltd is increasingly betting on its international projects to grow its business. With contracts for several big ticket global projects in hand, the air conditioning and engineering services provider is expecting its international business division to have a turnover of Rs 1000 crore by 2008. "In fact, the figure may even cross the Rs 1000-crore mark, as we have orders worth about Rs 1200 crore in hand. "Our revenues from international projects is currently around Rs 400 crore," Mr S.N. Tripathi, Executive Director & Chief Operating Officer, Voltas Ltd said. Though global projects is not a new area for Voltas, the company has managed to bag a string of big ticket projects during the past couple of years, including Queen Mary II luxury liner (Rs 135 crore), the Hong Kong international airport, Al Udeid Air Base Project in Qatar (Rs 225 crore), the Conference Palace Hotel Complex (Rs 480 crore) and a shopping mall in Abu Dhabi, and more recently the Hong Kong metro rail among others. Further, the company has recently signed up for a Rs 400-crore water treatment project in Singapore. Even as the bulk of the revenues are presently coming from the Gulf countries and South East Asian regions, the company is looking to expand to other geographies as well. "We have opened an office in China. However, we see a huge business opportunity coming up in Macau. Macau is seeing active infrastructural development and is being developed as a tourism hub, on the lines of Las Vegas. We expect to garner a sizeable business there," Mr Tripathi said. Voltas carries out electro-mechanical projects, specialising in heating, ventilation/air conditioning, building management systems, and water management.
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