Era Infra Engineering stock-split for 5-for-1

New Delhi, Jul 5: Era Infra Engineering Ltd, the country's leading infrastructure company, today said its Board of Directors has approved splitting each of its shares into five.

The Board has approved sub-division of its equity shares from existing one equity share of Rs 10 each to five equity shares of Rs two each, a statement said. Set up in 1990, the construction firm had reported net profit of Rs 36.76 crore for the fourth quarter ended March 2008, up 21 per cent.

Era Infra Engineering Chairman and Managing Director H S Bharana had earlier said, ''We expect to invest Rs 400 crore in the ready-mix concrete (RMC) business over a period of three years.'' He added the group is further gearing up to consolidate its position in airport projects.

The company also intends to enter into gas pipeline and marine piling sector and is in the process of acquiring technological expertise via joint venture or acquisition route.

UNI