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Construction : Newsmakers | June 2018 | Source : CW-India

Big Bagger

Chairman Anil Ambani-led Reliance Infrastructure (RInfra) is on a winning spree. The company recently bagged the Versova-Bandra Sea Link project in Mumbai from the Maharashtra State Road Development Corporation at a massive Rs 70-billion. This EPC project has been awarded in partnership with Italian construction major Astaldi SpA. The sea link project, which is part of the ambitious Mumbai Coastal Road project connecting south Mumbai to the western suburbs, is expected to be completed in five years. Notably, earlier this year, Ambani was also successful in winning a Rs 15.84-billion order in a consortium with Astaldi, for construction of three packages of the Mumbai Metro Line-4. And, with the new Versova-Bandra Sea Link order, RInfra's EPC order book has reportedly swelled to about Rs 275 billion. With a 291 per cent rise reported in consolidated net profit for Q4 FY2017-18, Ambani has been on a growth spree; the company's net profit increased to Rs 1.6 billion from its Rs 0.41 billion the same period a year ago.
 
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