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Dec 14, 2010, 05.52 PM IST
Concurrent (India) Infrastructure recent acquisition Vakratunda Ispat commences production from today. Sudhir Babu Koneru, the Whole-Time Directo of Concurrent (India) Infrastructure, in an exclusive interview with CNBC-TV18's Ekta Batra and Reema Tendulkar, shares the revenue profile and expectations from the buy.
Below is a verbatim of the Sudhir Babu Koneru's interview with CNBC-TV18. Also watch the accompany video. Q: You completed the acquisition of Vakratunda Ispat, what does this do to the company? We understand that it commences production from today, what does it do in terms of revenue profile of the company now that it becomes a wholly owned subsidiary? A: We have started production from today, the revenue model we would add on some Rs 100 crore for the next one year. Pune being one of the fastest growing city and with a lot of demand/supply gap, it makes Pune a very good market. It is the reason why we have acquired Vakratunda and it is the 100% subsidiary of Concurrent India. It will add very good valuation to this company from today onwards. Q: What exactly are you expecting in terms of revenues from this particular plant and what is the utilization level currently you are working with? A: We are working on the capacity of 65,000 metric tonne per year. Staring from today, we will add on somewhere between Rs 45 to Rs 50 crore in Q3. Q: How much did you buy this for? A: We got it at a very good price and we cannot expose that now because there are a lot of equity involvements in this. It has come for a very good price for this company.
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