Infrastructure player C&C Construction today said it plans to raise about Rs 150 crore

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through qualified institutional placement by next month to fund its current and future projects.

"We would raise Rs 150 crore through QIP by the middle of next month," C&C Constructions Ltd Chairman G S Johar told PTI.

The promoters holding in the company currently stands at 70 per cent which will come down to around 58 per cent after the QIP, he said.

The funds raised would also be utilised at working capital, apart from executing the current and future infrastructure projects, Johar added.

The Delhi-based company has cleared the technical qualification round for building several highway projects worth around Rs 20,000 crore in the country.

It would also focus on road projects in West Asia to increase revenues from international business from the current 15 per cent to 25 per cent in the next few years.

Johar said the company would concentrate on road projects in countries like Oman, Saudi Arabia, Libya and the Central Asian nations of Kazakhstan and Kyrgyzstan.

C&C Construction has road projects worth USD 85 million in Afghanistan.

The company had a turnover of Rs 750 crore in 2008-09, with a profit after tax of Rs 41 crore.