SPML group to double headcount; diversify into other verticals

Bangalore, Dec 12 (UNI) SPML Group, an engineering, construction and project management company, today announced plans to double its headcount from the current 1,000 in the next 18 months and diversify into other infrastructure verticals as part of its expansion plans for 2006-07.

Company Chairman Anil Sethi told reporters here that the expansion would double the company's revenue in the current fiscal and position it as one of the key infrastructural players in the country. The company's revenue for the last fiscal was Rs 400 crore.

The company was also planning to invest Rs 750 crore in the renewable sector in the next five years, he said.

''Our renewable diversification out of water and power into waste management along with our efforts to join the select group of companies working under Government agencies to reach electricity to Indian villages has had our turnover and profits spiral upwards,'' he said.

Mr Sethi said the company had contracts from Bihar, West Bengal and Uttar Pradesh, covering a total of 8,000 villages under the Rajiv Gandhi Grameen Vidyutikaran Yojana.

The company was planning to invest Rs 500 crore in irrigation, water supply and power projects in the State, besides Rs 200 crore in real estate in the city.

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