Totem Infrastructure raises money to fund road projects

Hyderabad: Totem Infrastructure is in the process of closing another round of funding through a consortium of private equity firms to part fund its expansion and business diversification.

The Director of Totem Infrastructure, Mr Abhijit Roy, said it is in the process of developing 1,260 lane km of road projects in several parts of the country commanding an order book of Rs 1,600 crore and expects to significantly add to business targeting core sector projects.

The company raised Rs 30 crore from the Singapore-based Aquarius Capital in March 2008 and is in parleys with a consortium of three PE firms to finalise a deal for about Rs 150 crore, he said.

The Hyderabad-based company, with four strategic business units, expects to close this financial year with an order book of Rs 2,000 crore and revenues of Rs 300 crore. The business is centred around cash contracts.

Addressing a press conference here today, Mr Roy said that the company focus in the last five years has been on core infrastructure of roads and construction contracts in power sector, which contribute about 70 per cent of the revenues and 20 per cent comes from irrigation projects.