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Hyderabad , April 27

INDU Projects Ltd, is upbeat on the growth in urban infrastructure projects and the opportunities thrown open by the relaxation in foreign direct investment in the construction sector.

The Rs 127-crore turnover infrastructure developer is positioning itself as a solutions provider to international construction majors, which are likely to enter the Indian market, on the strengths of cost and quality effectiveness, said its promoter and Chief Executive Officer (CEO), Mr I. Syam Prasad Reddy.

The 2002-formed company has an encouraging order book position valued at Rs 600 crore, with projects in real estate development, railways, commercial complexes meeting international standards, predominantly in South India, said Mr Reddy.

Indu Projects wants to focus in the southern region such as Bangalore, Hyderabad, Chennai, and Kochi where urban infrastructure is set to boom in the coming years. The demand for software technology, biotech parks, malls, commercial buildings for IT and new economy industries is increasing, said Mr Reddy, who was Executive Director and promoter of IVRCL Infrastructure Ltd.

The company has set a target of Rs 300 crore by the end of 2005-06. It has taken up small hydel power projects. Encouraged by the execution of a 10-MW unit in Kanakapura on the outskirts of Bangalore, it is trying to partner with independent power promoters to offer turnkey project solutions, he said.

The ISO 9001-2000 company has forged alliances with important players such as Embassy, Unity Infra Projects, Patel Engineering and IL&FS to provide the necessary solutions to the customer. While Mr Reddy holds a majority stake in the company, a Pune-based high networth individual owns a minor stake. Embassy of Bangalore has shown interest in taking some equity stake, though it is too early, he added.

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