With 25 ongoing projects in the roads, building, solar, railway, water and sewerage-related sectors, the company will soon be in the market with a firm plan to diversify to other sectors.
With its financial turnover of Rs 555.30 crore during 2016-17, the projection of Iron Triangle (previously Backbone Enterprise) for 2017-18 is Rs 650 crore. The company is mainly engaged in the implementation of infrastructure projects, ie, roads, building, solar, railways and water and sewerage-related. Kishor Viramgama, Chairman & Managing Director, Iron Triangle, is keenly planning to diversify to other sectors and will be in the market soon with a firm plan.
The company's existing commitment and ongoing works include: Rs 629.70 crore rehabilitation and upgradation of Jharpokharia Baripada Baleshwar section of NH-5 in Odisha under NHDP- Phase-IV on EPC mode for NHAI; Rs 229.41 crore worth EPC projects including rehabilitation and upgradation to two-lanes of Nabrangpur-Koksara section of NH-201 in Odisha under Phase-1 of NHIIP for MoRTH; Rs 190.40 crore EPC contract for infrastructure development works of SEZ Phase-I area at JNPT; Rs 258.11 crore construction of four-lane road including three flyovers and one elevated corridor on existing Fafadih-Telibandha-Naya Raipur Narrow Gauge Railway Track in Chhattisgarh; Rs 344.79 crore upgradation of Chikhali-Khamgaon section of NH-548C to two-lane in Maharashtra on EPC mode for MoRTH. In all, the company is carrying on works for 25 such projects totalling to approximately Rs 3,000 crore of work order.
For these works, the company self-procures building materials and construction equipment.
We are definitely seeking support from industry services, including subcontracting, for our projects, shares Viramgama. As for raising funds for the company's projects, he adds, Generally, for EPC, it is cash flow-related only.