Era Group lines up Rs 10,000-cr investment

NEW DELHI: Era Group plans to invest Rs 10,000 crore over the next three years for its ongoing engineering, infrastructure and real estate projects. The group also plans to diversify into power, entertainment and hospitality and is in talks with a few private equity firms and FIIs for raising part of the fund.

Era group chairman H S Bharana said, ���A lot of PE funds have evinced interest in us, and we are in talks with 3-4 well known global funds. A deal is likely in a couple of months.���

The PE investments are likely to flow in the company on a project to project basis. ���We are not looking at diluting equity in the main company as of now. For leveraging PE participation, we will float special purpose vehicles (SPVs) as and when needed,��� he said.

According to Mr Bharana, the group is giving final touches to its diversification plans. At the same time, it would focus on consolidating its presence in the existing businesses.

Bharana said. The Era group is bullish on both hydel and thermal power projects in various parts of the country. eanwhile, in the infrastructure business, the group expects to bag a couple of big ticket highway projects this year.