Mumbai: RPP Infra Projects is expecting its revenue to more than double to Rs 450 crore in FY12, as the construction and infrastructure development firm is expecting to win domestic as well as African orders, a top official told Reuters on Tuesday.
The company is looking at bidding for road projects in India, while it expects to win more orders from the African nation of Gabon, its chief operating officer M K Sivabal said, without elaborating.
In February, it got an order from Gabon to construct a special economic zone, while in the same month it won another housing project worth Rs 1,500 crore — more-than two-third of its current order book of Rs 2,200 crore — in the West African nation.
The Erode, Tamil Nadu-based firm had a revenue of Rs 210 crore at the end of fiscal year 2010-11, Sivabal added.
Earlier in the day, the firm said it was the preferred bidder to develop two power projects with 50 MW aggregate capacity in Indonesia jointly with Indonesian Truba Manuggal Power and India’s KSK Energy Ventures .
RPP expects the price bidding for this Indonesian order to get over by August end, Sivabal said.
Shares in RPP Infra, which is valued by the market at Rs180 crore, went up after the news of Indonesian venture by as much as 4.95%, its highest intra-day rise since 6 July.
At 3.03 p.m., the company’s shares were up by 2.13% at Rs 81.35 in a steady Mumbai market.