Om Metals eyes Rs300cr revenue in FY11 from engineering biz

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Om Metals eyes Rs300cr revenue in FY11 from engineering biz

In an interview with CNBC-TV18, Vikas Kothari, Director, Business Development, Om Metals Infraprojects, spoke about the latest happenings in his company and sector.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » RELATED NEWS Om Metals looking at Rs 50-150cr acquisition ALSO READ See latest News about OM Metals Infra See previous management interviews See what other Experts & Brokerages are saying about OM Metals Infra OM Metals Infra BSE | NSE 10/02/12 Are Mutual Funds betting on OM Metals Infra?

In an interview with CNBC-TV18, Vikas Kothari, Director, Business Development, Om Metals Infraprojects , spoke about the latest happenings in his company and sector.

Here is a verbatim transcript of the exclusive interview with Vikas Kothari on CNBC-TV18. Also watch the accompanying video.

Q: You have a couple of new projects that you announced. You have initiated the launch of 'Om Urban Heights' and 'Om Enclave' has been successfully completed. Tell us the kind of response that you seeing in Kota where both of these projects are there?

A: Kota is very booming economy and therefore our first project there, which was 'Om Enclave', has been quite successful. We have sold off all our units there. This year is going to be a final year when will be gaining revenues from that project.

Having achieved success in that project, we have taken up another project which is 'Om Urban Heights'. This is a development of 3 lakh sq ft, residential in Kota and the response has been overwhelming because even before we have launched the project we have already received bookings for almost 20% of the area.

Q: What realisations are you expecting from both of these projects?

A: We have already realised about Rs 50 crore in revenues from 'Om Enclave' including FY09-FY10. From 'Om Urban Heights' we are expecting to gain about Rs 55-60 crore over the next one-and-a-half-two years.

Q: What is your land bank?

A: Currently, we have more than 900 acres including the special economic zone (SEZ). But in the real estate development, we have the next one, which is coming up is going to be in Hyderabad where we will be doing co-development with a reputable developer that's about 10 acres land. Then we have another project in Bandra, which is the most important project of our real estate land bank, which is above 7 acres of land which is a fantastic location project in Mumbai, which also we will be doing co-development with a reputable developer in Mumbai.