SREI Infrastructure - Fastest Growing Company

SREI - Super Returns & Exceptional Income

Srei Infastructure Finance has posted 79 per cent jump in profit after deferred tax to Rs 32.48 crore during the first nine months of 2005-6 as against Rs 18.10 crore recorded during same period last financial year. Total income stood at Rs 150.10 crore as compared with Rs 95.58 crore last year. Profit before tax increased by 73 per cent to Rs 46.66 crore from Rs 26.91 crore in the same period last year. The total business of infrastructure equipment, projects and rewneable energy finance was raised by 109 per cent to Rs 1,823 crore from Rs 871 crore.

SREI Infrastructure Finance Limited (SREI) and its consortium members have been shortlisted by the government of Andhra Pradesh (GoAP), for development and operation of the integrated mass rapid transit system (MRTS), better known as the Hyderabad Metro Rail project. In the first phase of the project, GoAP identified three corridors for development of elevated MRTS Project on build, operate and transfer (BOT) basis. These were the Miyapur – Chaitanyapuri stretch of 26.27 km with 25 stations, the Tarnaka-Panjagutta-Hitec City route of 20 km and the Secunderabad-Falaknuma via Charminar link of 13.18 km with 14 stations. The cost for all the three corridors in Hyderabad has been estimated at Rs 4,300 crore at Rs 72.88 crore per km.

Another proposal submitted by SREI alongwith Metrail AG of Switzerland was under the active consideration of the government of West Bengal for implementation of the 32km, 32 station Kolkata MRTS from Joka in the south to Panihati in the north, with an estimated project cost of Rs 1500 crore, with fare fixed at Rs 1 per passenger km..

For the Hyderabad system, SREI and its consortium members would design, develop, finance, build, operate, maintain and transfer the MRTS to GoAP after the expiry of the concession period. The other consortium members included SMRT Corporation Ltd (SMRT), a holding company in transportation based in Singapore providing train, bus and taxi services and also maintenance consultancy and project management services in railway systems. Another member was Essar Construction of the Essar group, with an asset base of $4.4 bn and turnover of over $2.08 bn. Another member was Singapore Technologies Electronics Limited (ST Electronics), which specialises in the design, development and integration of advanced electronics systems, rail and traffic management, intelligent building management, information security and m-commerce solutions. Sembcorp Engineers, Asia's largest integrated logistics provider, was also a member.