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NT Bureau
Chennai, Dec 29:

        Marg Constructions Ltd has plans to raise Rs 3 billion through GDR (global depository receipts) and FCCB (foreign currency convertible bonds) for financing its projects.

        Having established itself as one of the fastest growing and diversifying company, the management of the company has got the nod from its Board for the proposed plan to raise capital in the form of GDR and FCCB.

        'At Marg, the pioneering spirit has helped us build realty and infrastructure solutions that fuel the progress of the country.

        We have ventured into the construction of ports, malls, Special Economic Zones (SEZs), IT parks, serviced apartments, townships, residential and commercial projects,' said G R K Reddy, managing director, Marg.

        'Looking at the pace at which we are expanding, we have decided to raise an additional capital of Rs 3 billion to fund new projects that Marg will be venturing into. In the years to come, we see ourselves as a major player in the Indian realty and construction industry. Marg will be in a position to play a big role at both the urban and rural development of India,' he explained.

        Marg Constructions provided state-of-the-art solutions, right from locating the property to providing build-to-suit facilities for IT and ITeS companies. The company has recently completed three software parks in Chennai covering 7.5 lakh sq ft of area. With a capacity to scale up operations in a short turnaround time, the company has blended aesthetics with a strong business value in its high-profile projects.

        As the infrastructure space required innovative and forward thinking strategies to develop business models for enduring value, Marg group had proposed an employee stock options (ESOP) scheme, making each of its staff an integral part of not just the work philosophy and culture, but partners in growth.