Omaxe Ltd just a while ago informed us that subsidiary of the company, Omaxe Powers has filed expression of interest to bid for a project to convert existing low voltage distribution system to high voltage distribution system throughout the state of Punjab.
We think this is a fantastic move by the company unlike Parsvnath which is planning to get into low margin capital intensive business of Telecom which will be an unrelated diversification. Instead Parsvnath should look at the Infrastructure space.
On 20 December 2007, the concerned authority had approved the company’s subsidiary Eden Buildcon’s bid for a multi-purpose project, estimated at Rs 1,800 crore, in Hyderabad.