Lanco Infratech sketches investment plan worth Rs 15000 crore
Lanco Infratech, the flagship of Hyderabad-based Lanco Group, has decided to invest Rs 15,000 crore in the power sector during 2009-10.
Sources reported that it would be an 80:20 debt-equity structure and lead to financial closure of 2,640 MW installed power capacity. The projects are located in Orissa, Chhattisgarh and Maharashtra.
It should be noted that the Hyderabad-based diversified group till date made capital investments to the tune of Rs 20,000 crore in the power sector, which accounts for 50 per cent of the revenues at present.
At present, the company has six operational plants, while 10 are under execution at various stages, totaling an installed capacity of 8,500 MW. The company has set a target of reaching 15,000 MW by 2015.
The firm has posted a turnover of Rs 1,605.70 crore and a net profit of Rs 354.10 crore in 2007-08.
The scrip of the company closed on Friday at Rs 212, up 6 per cent compared to previous close of Rs 201. The stock had made 52-week-high and low of Rs 588 and Rs 83 respectively.