Simplex Infra - Solid Foundation

Simplex Infrastructure - Piling Profits

Kolkata based Simplex Infrastructure Limited (SIL) , formerly Simplex Concrete Piles (India) Limited, is waiting for state government's approval for forming joint venture for real estate development in the state. B D Mundhra, chairman and managing director, SIL said, "We have submitted our application for a possible joint venture with state government for real estate development. We are waiting for a response in this regard." SIL had orders for developing commercial complex in metros including Bangalore and Mumbai over an area of 80 lakh square feet. The company is also looking for setting its foot in overseas location including Oman, Dubai, Abu Dhabi amongst others, he claimed. SIL ia already present in three countries - Qatar, Bahrain and West Indies. "We have already bagged Rs 600 crore project for constructing hotels for Hilton Hotels in Qatar," Mundhra informed.

Meanwhile, the company recorded 13 per cent growth in net profit at Rs 11 crore for the quarter ended December 2005 against previous years' corresponding figure of Rs 9.73 crore. Total income stood at Rs 374.70 crore, 43.30 per cent higher than last year's Q3 figure of Rs 261.35 crore. Profit before tax (PBT) went up by 23.09 per cent at Rs 14.02 crore against Rs 11.39 crore PBT during Q3, 2004-05. Income from foreign operation recorded phenomenal growth of 310.53 per cent during Q3, 2005-06 at Rs 33.13 crore as compared to last year's corresponding figure of Rs 8.07 crore. Profit from international operation has though declined by 70.96 per cent at Rs 36 lakh during October-December 2005 from last year's corresponding figure of Rs 1.24 crore due to the huge initial investment in the projects.

The order book of the company was to the tune of Rs 4,000 crore with an average gestation period of 1.5 years, Mundhra said.