Punj Lloyd to consolidate engg services into new co
Punj Lloyd is planning to set up a new company to consolidate its engineering skills under one entity and expand its services, according to industry sources. Likely to be based in the Delhi NCR region, the company will integrate the engineering expertise of its two recent acquisitions, Singapore-based SembCorp Engineers & Constructions (now known as Sembawang Engineers & Constructors) and Manchester-based Simon Carves, with that of Punj Lloyd’s to form a new company that will take on the backlog jobs of the group as well as scout for fresh projects.
Punj Lloyd operates in 19 countries, with 75 per cent of its business in the overseas market.
Before the acquisitions, Punj Lloyd used to outsource part of its engineering work, but now has in-house expertise in most aspects of infrastructure development including airports, seaports, hospitals, commercial and residential buildings. The new company is being planned as an independent profit centre, sources said.
New logo
Meanwhile, on Monday, Punj Lloyd is slated to unveil its new brand identity in Singapore, which will include a new logo that will be sported by all the companies under the group. The new logo comprises two links enclosed in a three-dimensional ellipse. "Our new brand identity is designed for the spirit of partnership to come through,” said Mr Atul Punj, Chairman, Punj Lloyd. "The last few years have been exciting times for us. We are now focusing on establishing an integrative mechanism that cements these changes to create an organisation empowered to be a winner in the market.
The spin-off benefits of this transformation of the group will provide increased transparency and accountability, which in turn will lead to improved operating performance," he added. The company’s current order backlog is around Rs 13,500 crore.
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