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Maytas unfazed by Satyam pullout

BS Reporter  |  Hyderabad 

Maytas Infrastructure is undeterred by Satyam Computer Services’ decision to call off the acquisition plans.

"The transaction is between Satyam and the shareholders of Maytas Infra. There won’t be any positive impact if the deal is through and any negative implications if it isn’t," VV R Raju, CFO of Maytas Infra, told Business Standard.

Funding its ongoing projects is not on issue, he said. Currently, the company has more than Rs 11,000-crore orders on hand to be executed in 30-36 months, he said, adding, "We normally go for working capital loans to fund our projects and will continue to do so as the orders get accrued."

Maytas Infra, a 23-year-old company that went public in October 2007, is engaged in the business of infrastructure construction and asset development encompassing core areas such as highways, metro and railways, ports, transport management systems, airports, power, oil and gas, irrigation and water treatment.

The company, which has been growing 100 per cent since the last to years, reported a net profit of Rs 99 crore on revenues of Rs 1,650 crore in the last financial year.

First Published: Thu, December 18 2008. 00:00 IST