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Our Bureau

Hyderabad , Jan. 4

Soma Enterprise Ltd, the city-based infrastructure company with an order book of Rs 5,000 crore, has set its eyes on real estate projects. The company will set up a separate division to take up real estate projects.

To begin with, the company would take up an integrated township on the Bangalore-Mysore highway in an extent of 100 acres, according to Mr Ankineedu Maganti, Director of Soma Enterprise.

Addressing a press conference here on Thursday, he said the company had lands in Bangalore and Hyderabad.

The company had bagged five road projects, worth over Rs 1,200 crore, in Andhra Pradesh. These included four stretches totalling Rs 744 crore on the Hyderabad-Bangalore highway. The company had formed a joint venture with China Gezhouba Water and Power (Group) Company Ltd.

The company, in a consortium with Avinash Bhosale, bagged the Rs 460-crore Hyderabad-Nagpur project.

While the stretches on Hyderabad-Bangalore highway were expected to be completed in 30 months, the works on Nagpur highway would be competed in 24 months.

With these projects, the company's order book in the roads segment crossed the Rs 2,500-crore mark.

The company would assess the fund requirements vis-à-vis the upcoming projects. "After having a clarity on this, we might look at the option of raising funds," he said.

The company, which registered a turnover of Rs 710 crore during 2005-06 with a growth rate of 115 per cent over the previous year, targeted to achieve Rs 1,250 crore in 2006-07.

The company had started looking at overseas opportunities. "We have started bidding for projects, some with local partners, in West Asia, Africa and Sri Lanka. We hope to clinch some in the next financial year," he said.

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