ITNL eyes Rs 1,300 cr revenue from road proj in 3 yrs

IL&FS Transportation Networks, which listed on the bourses today, said it targets a revenue of Rs 1,300 crore from road and transport projects in the next three years.

"We have orders worth Rs 12,000 crore till date and will be executing them over three years. We are eyeing Rs 1,300 crore revenue from these project orders," IL&FS Transportation Networks' (ITNL) Managing Director K Ramchand told reporters on the sidelines of the listing ceremony here.

"We will continue to maintain our growth at least 25 per cent in the next three-years," Ramchand said.

The company is one of the leading private sector BOT road operators in India. The company is engaged in the development, operation and maintenance of national and state highways, roads, flyovers and bridges.

"We want to diversify into the urban infra space on the railways side. In our current portfolio we have completed eight projects and 11 are under construction," Ramchand said.

"We have received a 4.8-kilometres metro rail project at Rs 1,000 crore in Gurgaon and will start the construction work in the next 2-3 months. We will complete the project within three years," he said.

IL&FS Transportation Networks today listed at a premium of 11.24 per cent at Rs 287 on the Bombay Stock Exchange. On the National Stock Exchange, the stock listed at a premium of 3.35 per cent at Rs 266.60.

The shares of the company were trading at Rs 283.50, up 9.88 per cent over the issue price of Rs 258 per share, on BSE in afternoon trade. Meanwhile, the scrip was quoted at Rs 281.50 on NSE.