Although the real estate scene in India is hotting up and several international players are making a beeline to local shores, Delhi-based B.L. Kashyap & Sons (BLK) has no plans of venturing into real estate development.

Speaking to ET, Mr. Vineet Kashyap, MD of the company said: “Our experience is in construction and we intend to specialize in this. Real estate development would require large investments. Even if we venture into this (real estate development), it would be through a joint venture where in we will restrict ourselves to construction.”

BLK, which is going public on February 20, derives about 30% of its revenues from construction of residential units with 15% coming in from industrial construction and the balance being contributed from construction of malls and other such development.

“Industrial construction is gaining ground thanks to increased investment flows happening in states like Uttaranchal and Himachal Pradesh. Rising consumer spending has seen more malls coming up which would also spur further investments” according to Mr. Vikram Kashyap, joint MD of BLK.

Mr. Vineet Kashyap said that besides North India, Chennai, Bangalore and Pune were markets where BLK was seeing a good deal of business traction.

In fiscal 2005, BLK had a turnover of Rs 314 crore and net profit of Rs 12.17 crore, while for the six-month ended September 30, 2005, the company’s turnover was Rs 207.86 crore with net profit of Rs 13.49 crore. The order book as of September 30, 2005, stood at Rs 579 crore.