Sadbhav Engg to increase stake in Mumbai-Nasik highway SPV

1941 Investors following Sadbhav Eng. Share this News with them.

0

Like this story, share it with millions of investors on M3

Sadbhav Engg to increase stake in Mumbai-Nasik highway SPV

Sadbhav Engineering is planning to raise stake in Mumbai-Nasik Highway SPV to 50%, reports CNBC-TV18 quoting sources. It is learnt that Sadbhav Engineering has already initiated talks with Gammon Infra management for the stake sale.

Post your opinion here

 

0

Tweet

Share on Tumblr

ALSO READ See latest News about Sadbhav Eng See previous management interviews See what other Experts & Brokerages are saying about Sadbhav Eng

Sadbhav Engineering is planning to raise stake in Mumbai-Nasik Highway SPV to 50%, reports CNBC-TV18 quoting sources. It is learnt that Sadbhav Engineering has already initiated talks with Gammon Infra management for the stake sale.

Currently, Sadbhav Engineering holds 20% stake in the vehicle while the rest is held by Gammon Infra . Gammon Infra is looking to monetise its operational assets to pare debt. It's current debt at Rs 2,600 crore.

Sadbhav Engineering reported stellar performance in the October-December quarter of FY12. Its net profit jumped 61.5% to Rs 42 crore as against Rs 26 crore in a year ago quarter.

Income from operations moved up 52% to Rs 724 crore from Rs 476 crore year-on-year.