Gayatri Projects Ltd. (GPL), one of India's fast-growing construction companies, has informed that it has set up Gayatri Infra Ventures Ltd. (GIVL), a new wholly owned subsidiary of the company. GIVL, incorporated to construct Transportation Assets in India and to operate as an Investing Company in Transportation Infrastructure sector. In addition, GIVL has also entered into a definitive agreement with AMP Capital Finance Mauritius Ltd. Under the agreement, AMP Capital has agreed to invest Rs 100 crore in the equity shares of GIVL. AMP Capital investor has been investing in Asian infrastructure since
1994 and is one of the longest standing participants in infrastructure investment in Australia. According to the company, the raised funds would be utilized to meet ongoing needs of existing projects as well as future bids and concessions undertaken by GIVL. GPL has reported an impressive rise of 74.77% in its net profit at Rs 11.25 crore in the quarter ended 30 June 2008 as compared to Rs 6.44 crore in the corresponding period a year ago.