Welspun Enterprises Receives Rs 2,339 Crore In First Close Of Road Asset Sale
Welspun Enterprises Ltd. will receive about Rs 2,339 crore from the first closing of the sale of six road assets to Actis Highway Infra Ltd., according to Managing Director Sandeep Garg.
"Enterprise value for the transaction is somewhere in the range of Rs 9,049 crore, out of which approximately Rs 3,000 crore were received by us during the construction phase from the client," Garg, who is also the chief executive officer, told BQ Prime's Sajeet Manghat.
The enterprise value is pegged at Rs 9,049 crore, and the asset being transferred will have a net value of about Rs 6,000 crore, Garg said.
In June, the company sold its road portfolio to Actis Highway Infra. The portfolios included five completed HAM assets and one operating BOT-Toll asset.
Under the HAM model, the government provides 40% of the project cost to the developer to start work, while the remaining investment has to be made by the developer.
The five projects are the Welspun Delhi-Meerut Expressway, Welspun Road Infra, MBL (CGRG) Road, MBL Road Ltd., and Chikhali Tarsod Highways.
The business environment for building roads will be less competitive, which will help the company make "better" margins, Garg said.
After this exit from the completed highway portfolio, the company's road asset portfolio would only include two HAM road projects that are under construction and cost a total of Rs 3,900 crore, according to a filing with the stock exchange.
"On the waterside, I think the quantum of work that is unfolding is substantial, and we believe that that's an EPC play that will be a very good play," he said.
The company has an order book of Rs 6,000 crore for water infrastructure work.
Watch the full interview here:
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
