Hyderabad

Pennar Industries acquiring Oneworks

Value-added engineering products and solutions firm Pennar Industries is acquiring Oneworks BIM Technologies, a company engaged in supporting clients through the technical processes of Building Information Modelling Management and Data Collection.

Announcing that the Board of Directors meeting on Tuesday approved the acquisition of Oneworks, a release from Pennar Industries said Oneworks is in 3D digital Building Information modelling. The services it offered include developing, modelling, converting and mapping of buildings with seamless integration of building data in a 3D model. Its major clients are from engineering and construction sectors.

The Director also approved the results of Pennar Industries for the quarter ended December 2019. The consolidated net profit stood at Rs.12.31 crore as against Rs.15.29 crore posted in the corresponding period of previous fiscal. Net revenue declined to ₹537.4 crore (₹567.6 crore). Vice-president - Corporate Strategy K.M.Sunil said the Q3 performance got impacted due to challenging business environment.

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Printable version | Apr 8, 2020 12:03:00 PM | https://www.thehindu.com/news/cities/Hyderabad/pennar-industries-acquiring-oneworks/article30794887.ece

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