Piramal Enterprises, which sells drugs and financial services, has earmarked Rs 5,000 crore ($837 million) for projects, which have been jeopardized by an economy struggling through its longest period of sub-5% growth since the 1980s.
The conglomerate mainly is hunting for road projects since it is of the view that infrastructure is likely to be one of the more visible beneficiaries of any pro-growth government policies and competition for assets is likely to be less than in other infrastructure sectors.
Further, the company is targeting 16% annual return from investing in road projects which it will find with State Bank of India acting as matchmaker.
Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and healthcare information management sectors.
