Meinhardt plans to invest over Rs 100 cr in India
17 Sep 2011
Singapore-headquartered engineering consultancy services provider Meinhardt Group is to invest over Rs 100 crore within a year in India to acquire a couple of firms and enhance its presence.
"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. A couple of acquisitions are also on the cards. All these will require over Rs100 crore," Meinhardt Group International Global CEO Shahzad Nasim said.
The Group, which has operations in 35 countries and has handled projects worth $15 billion last year, started its Indian operations in 2004 and from the scratch, it has now over 400 engineers and architects on board.
The Indian subsidiary contributed over Rs50 crore to the group's total revenue of Rs1,000 crore last year. In 2011 it has acquired Eigen Technical Services, a consultancy firm.
Meinhardt now plans to have presence in Kolkata, Mumbai and in a southern city within a year.
It has initiated talks to acquire a couple of consultancy firms, which are engaged in water supply and sewerage space.