Om Metals eyes 75 pc growth in revenue by FY 12

Mumbai, Jan 24 (PTI) Engineering construction company OmMetals Infra Projects is eyeing 75 per cent growth in revenueby FY 12 at Rs 350 crore, a top company executive has said.

"We are expecting to grow by 75 per cent by end of FY 12to clock a revenue of Rs 350 crore compared to Rs 200 crore inFY 10 going by our growing order books," Om Metals ExecutiveDirector Vikas Kothari told PTI here.

Talking about profit after tax (PAT), he said thecompany is expecting to post profit of Rs 35 crore in FY 11against Rs 26 crore in the last financial year.

"By FY 12 we see a 13 per cent growth in PAT," he added.

The company, which started 40 years ago by building canalgates that regulate the flow of water, has grown into aleading hydro mechanical firm of the country, he said.

He said the company has an order book worth Rs 1,200crore, of which Rs 850 crore are outstanding.

The company is also planning to foray into new businesswithin the engineering construction space, civil construction,power plant among others, Kothari said.

Om Metals is also looking at overseas businessopportunities through acquisitions, he said.

The company is already present in neighbouring countrieslike Bhutan, Vietnam and Nepal for its hydro-mechanicalprojects.

"Now we are looking to expand into major markets likeEurope in hydro power and marine structure throughacquisition or joint venture," he said. .

The company enjoys up to 70 per cent market share and has a market capitalisation of Rs 485 crore.

Apart from the specialised engineering segment, thecompany is also into boutique hotel business in Jaipur andinfrastructure, like building port and multi-product SEZ inpublic-private partnership in Puducherry.

The company also has land banks in Delhi, Hyderabad,Kota, Jaipur and Mumbai for real estate projects, Kotharisaid.

Shares of the company today closed at Rs 44.60, down by0.55 per cent on the Bombay Stock Exchange.