MARG eyes 30 pc rev in FY 12; targets to become USD 1 bn firm

MUMBAI: Diversified Infrastructure development firm MARG has said it is eyeing a overall 30 per cent growth in turnover at around Rs 1,430 crore in FY 12 and is targeting to become a billion dollar company by FY 14.

"With our increasing business, we expect to continue growing at an overall 30 per cent year-on-year in 2011-12. In FY 11 we expect a standalone turnover of Rs 1,100," MARG Chairman and Managing Director G R K Reddy told PTI here.

He said that looking at the growth trajectory, the company is targeting to become a USD 1 billion company by FY 14.

The company, which has an order book of Rs 3,600 crore order book as of now, operates in four verticals - engineering-procurement-construction, infrastructural development, real estate development and Special Economic Zone (SEZ).

The Chennai-based company started with EPC business providing integrated construction solutions across the country.

"Our EPC business is growing and we have several strategic technological tie-ups with international majors like with Spain's PYCSA, Ireland's Lagan Construction and US's AECOM to strengthen focus," he said.

In marine infrastructure and services, he said the company has built and operating MARG Karaikal Port in Puducherry which is handling 4.8 tonne of cargo.

The company is planning to increase its cargo handling capacity and has set a target to increase it to nine million tonne this year and 20 million tonne by FY 14, Reddy said.