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Valuation in accordance with SEBI norms: Ramalinga Raju

Special Correspondent

HYDERABAD: The decision on whether or not B. Teja Raju, Vice-Chairman of Maytas Infra, would continue in the position will be decided only after the public offering gets completed in about two to three months. B. Rama Raju Jr. Vice-Chairman of Maytas Properties, will not, however, continue.

This was clarified by B. Ramalinga Raju, Chairman of Satyam Computers, at a conference call with investors. Replying to a volley of questions, Chief Financial Officer of Satyam, Srinivas Vadlamani, said that the valuation was done in accordance with Securities and Exchange Board of India (SEBI) guidelines. The need for diversification, Mr. Ramalinga Raju said, was essential as there was no point in investing huge amounts in acquiring another IT company.

The combined entity would witness a growth of 33 per cent by 2010-11 and 50 per cent by 2012 and IT and infrastructure would contribute 50 per cent each to the revenues. He said that his immediate family had 36 per cent stake in Maytas Infra and about 35 per cent in Maytas Properties. He insisted that the growth rate in the IT business model had grown riskier, while Mr. Vadlamani asserted that the balance sheet of Satyam was likely to end flat even in 2009-10.

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