Axis PE invests Rs 600-mn in Vishwa infra

Hyderabad: Axis Private Equity (Axis PE), the recently floated company by Axis Bank to manage private equity funds primarily in the infrastructure sector, invested Rs 60 crore in Hyderabad-based Vishwa Infrastructures and Services Private Limited, engaged in the water supply and sanitation space.

With this, the private equity's investments totalled Rs 322 crore. It had invested in Ahmedabad-based Neesa Leisure Limited and Corrtech International Private Limited, and Delhi-based Harish Chandra (India) Limited last month.

Vishwa Infrastructure executes projects in the water supply and sanitation sector, which includes water treatment and carriage projects for water and sewage.

The company is backward integrated and has a manufacturing facility near Hyderabad for production of pre-stressed concrete, reinforced concrete and mild steel pipes.

'Axis PE's investment will act as a catalyst for our growth and we will soon move to other regions like Gujarat and Rajasthan. We expect to achieve revenues of Rs 1,000 crore in the next three to four years,' Vishwa managing director Yerra Srinivas said.