IDEB Projects gets $32 mn PE funding

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"We expect to cross over Rs 800 crore next year, and are looking at a potential IPO in 2008-09," he added.

He said that the company has invested Rs 400 crore in developing malls in Bangalore, Mysore and Chandigarh; Rs 600 crore in residential projects in Bangalore, Pune, Goa and Jaipur; Rs 280 crore in hospitality infrastructure projects in Bangalore, Mysore, Pune, Chandigarh, Dehra Dun and Kolkata; and Rs 275 crore in IT parks.

These projects are in various stages of implementation.

Mr Bedi said that the Shanghai Urban Construction Group (SUCG), with which IDEB has entered into an agreement to take up large infrastructure projects in India, is one of the 18 pre-qualified bidders for the 9,000-acre satellite township project in Bidadi, Karnataka.

According to him, seven foreign companies including SUCG are bidding for the project.

Some of its upcoming infrastructure projects include an IT Park in Dehra Dun - a joint venture with the Government of Uttaranchal (through Sate Industrial Development Corporation), the Rs 165-crore design and build contract for Delhi Metro for an elevated viaduct of length 4.555 km and five elevated stations for Phase II of Delhi Mass Rapid Transport System in joint venture with Shanghai Urban Construction Group (SUCG), and the 55.7-km Patiala-Malerkotla road project on BOT concession basis, awarded by the Government of Punjab.

Taken from Business Line

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