Ahluwalia Contracts India in talks for Rs 100 crore acquisition

Construction firm Ahluwalia Contracts India is in acquisition talks for specialised construction firms, with a war-chest of up to Rs 100 crore, and hopes to sew up the deal by June. The New Delhi-based firm sees a 25-30 per cent organic growth for next five years and acquisitions of up to Rs 100 crore could be funded from its internal resources.

Ahluwalia Contracts is expecting new government orders of around Rs 500-600 crore for construction of specialised buildings like hospitals, hotels and education institutions by the end of March 2010. At present, the firm has government projects worth 700-800 crore.

As on Jan 31, the diversified construction firm's pending order book was at Rs 3,300 crore, while it had submitted bids for Rs 150 crore that are yet to be finalised. It is also planning to foray into construction of power projects and is in discussion for pre-qualification with a number of players.