In an interview to CNBC-TV18, Sandeep Garg, MD of Welspun Enterprises spoke about the latest happenings in the company.
The company is also going to apply for a non-banking financial company (NBFC) licence where they will hold 60 percent stake while the remaining 40 percent will be held by the Welspun promoter group.
In an interview to CNBC-TV18, Sandeep Garg, MD of Welspun Enterprises spoke about the same and the latest happenings in the company.
"MBL has financial difficulty right now, it is a very profitable project for them but given the situation with MBL Infra, they have chosen to take us as a sponsor," said Garg.
On NBFC plans, he said there is no plan to spin-off NBFC into separate unit.
Garg expects to get the NBFC licence by Q3 of FY18.
Speaking about the core business, he said order book target is at Rs 4,000-4,500 crore for this year.
Welspun Enterprises will invest around Rs 250 crore in the hybrid annuity model projects.Watch accompanying video for more details.