By IANS,
New Delhi : Singapore-headquartered Meinhardt Group, an engineering consultancy services firm, Sunday said it plans to invest Rs.100 crore within a year in expanding its Indian operations.
“We have over 400 engineers and architects in our offices in Delhi and Chennai. We plan to double the headcount and start operating from three other cities,” said Meinhardt Group’s global chief executive Shahzad Nasim.
“A couple of acquisitions are also on the cards. All these will require over Rs.100 crore,” added Nasim.
The group, which has operations in 35 countries and handled projects worth $15 billion last year, started its Indian operations in 2004. The Indian subsidiary contributed over Rs.50 crore to the group’s total revenue of Rs.1,000 crore last year.
It acquired Eigen Technical Services, a consultancy firm this year.
Nasim said the company is in talks to acquire a couple of consultancy firms, which are engaged in water supply and sewerage space.
Meinhardt’s current portfolio of projects is a balance between government and private clients and mainly includes developing projects in aviation sector, roads and highways, water and wastewater, environmental and buildings.
“We are currently talking to a company in south and also one in Delhi in the water supply and sewerage space. The deals are likely to be signed within a year. The cost of acquisitions might be more than Rs.50 crore,” he said, declining to divulge the names of the firms it is in touch with for acquisition.