Meinhardt to invest over Rs 100 cr in India
Meinhardt started its Indian operations in 2004 and from the scratch, it has now over 400 engineers and architects on board.
By PTI | Updated:
New Delhi: Singapore-headquartered Meinhardt Group, an engineering consultancy services provider, today said it plans to invest over Rs 100 crore within a year in India to acquire a couple of firms and enhance its presence.
"We have over 400 engineers and architects in our offices in Delhi and Chennai. We plan to double the headcount and start operating from three other cities. A couple of acquisitions are also on the cards. All these will require over Rs 100 crore," Meinhardt Group International Global CEO S Nasim said.
The Group, which has operations in 35 countries and had handled projects worth USD 15 billion last year, started its Indian operations in 2004 and from the scratch, it has now over 400 engineers and architects on board.
The Indian subsidiary contributed over Rs 50 crore to the Group's total revenue of Rs 1,000 crore last year. In 2004, it has acquired Eigen Technical Services, a consultancy firm.
Nasim said Meinhardt now plans to have its presence in Kolkata, Mumbai and in a Southern city within a year. It has initiated talks to acquire a couple of consultancy firms, which are engaged in water supply and sewerage space.
"We are currently talking to a company in South and also one in Delhi in the water supply and sewerage space. The deals are likely to be signed within a year. The cost of acquisitions might be more than Rs 50 crore," he said declining to divulge the names of the firms it is in touch with for acquisition.
Stating that Meinhardt would fund from internal accruals the entire Rs 100 crore investment, he said the company could be listed on the domestic bourses within three years, by when Meinhardt is expected to double its revenue from India.
Globally also, Meinhardt Group was targetting to double the revenue in the next three years, Nasim said.
"We have over 400 engineers and architects in our offices in Delhi and Chennai. We plan to double the headcount and start operating from three other cities. A couple of acquisitions are also on the cards. All these will require over Rs 100 crore," Meinhardt Group International Global CEO S Nasim said.
The Group, which has operations in 35 countries and had handled projects worth USD 15 billion last year, started its Indian operations in 2004 and from the scratch, it has now over 400 engineers and architects on board.
The Indian subsidiary contributed over Rs 50 crore to the Group's total revenue of Rs 1,000 crore last year. In 2004, it has acquired Eigen Technical Services, a consultancy firm.
Nasim said Meinhardt now plans to have its presence in Kolkata, Mumbai and in a Southern city within a year. It has initiated talks to acquire a couple of consultancy firms, which are engaged in water supply and sewerage space.
"We are currently talking to a company in South and also one in Delhi in the water supply and sewerage space. The deals are likely to be signed within a year. The cost of acquisitions might be more than Rs 50 crore," he said declining to divulge the names of the firms it is in touch with for acquisition.
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Stating that Meinhardt would fund from internal accruals the entire Rs 100 crore investment, he said the company could be listed on the domestic bourses within three years, by when Meinhardt is expected to double its revenue from India.
Globally also, Meinhardt Group was targetting to double the revenue in the next three years, Nasim said.
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