Om Metals Infraprojects and SPML Infra's joint venture has bagged the contract to set up a smart city named Vikram Udyogpuri near Ujjain.
The smart city will be having a township of 1,000 acres and the contract value is Rs 325 crore.
Vikas Kothari, executive director and president, Om Metals Infraprojects, says the company will earn a net margin of 10 percent from this project.
With an execution of Rs 750 crore in the next few years, Kothari says there is a tremendous potential in the creation of the smart cities.
The first phase of the smart city will commence operations by 2016-17. The Delhi Mumbai Corridor Trust has approved funding for the project and Japan International Cooperation Agency (JICA) and Japan Bank for International Cooperation (JBIC) will lend funds for the project.
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