Simplex Infra - Aiming Rs. 5000 Cr Turnover
Simplex Infra - Board Approves 5:1 Stock Split
Kolkata-based infrastructure development company Simplex Infrastructures Ltd is aiming a Rs 5,000 crore turnover over the next 4-5 years. To complement its growth plans the board of directors have decided to raise $200 million from domestic/ international market. B D Mundhra, chairman and managing director said, "The company aims to achieve a turnover of Rs 5,000 crore by 2011 and is constantly capitalising on untapped areas and opportunities in both organic and inorganic ways to drive the next level of growth."
In 2005-06, the company recorded net sales of Rs 1,345 crore. He added, "The board today has approved the proposal for raising $200 million from domestic/international market by issue of any class of securities including global depository receipts, American depository receipt, foreign currency convertible bond amongst others."
The board has also approved subdivision of existing shares of Rs 10 each into five shares of Rs 2 each, Mundhra added. The board has recommended the same for approval of the members at the ensuing annual general meeting.
Meanwhile, the current order book position of the company was above Rs 4,500 crore, said Mundhra. "Our order book, which is over Rs 4,500 crore, is not only growing in terms of quantity but quality as well and we are executing some large projects across diverse sectors in India & international markets," he explained. The company is also planning to bid for build operate transfer (BOT) projects/ annuity projects in roads & highways, power transmission, ports, hydro, railways and water supply.
"We are also targeting turnkey, operation and maintenance project in metal, cement, oil and gas pipelines," he noted. Simplex Infrastructures led consortium has emerged as a leading bidder for the Rs 250 crore stadium deal from the Jharkhand government. Senior executives of Simplex confirmed that it had bid for two stadiums at Ranchi in association with the UK-based construction firm Laing O' Rourke. The deal is likely to conclude this week.
In addition, it is bidding for a handful of contracts in North Africa for industrial construction, roads and power projects. The combined value for these contracts stands at Rs 500 crore. Simplex has tied up with US-based developer Heins for bidding for developing 350 acre of residential-cum-commercial complex in West Bengal. For funding its growth plan, the company will raise Rs 900 crore from the domestic as well as foreign markets. Simplex is also planning to tie-up with national and international majors for entering into mining sector.
Meanwhile, Simplex Infrastructures registered a jump of 65.4 per cent net profit at Rs 42 crore during 2005-06 against Rs 25 crore in 2004-05. Total income from operations grew to Rs 1,345 crore during 2005-06 against Rs 999 crore in the previous fiscal. The company has recommended a dividend of Rs five per share on face value of Rs 10 each for the year ended March 31, 2006.
Kolkata-based infrastructure development company Simplex Infrastructures Ltd is aiming a Rs 5,000 crore turnover over the next 4-5 years. To complement its growth plans the board of directors have decided to raise $200 million from domestic/ international market. B D Mundhra, chairman and managing director said, "The company aims to achieve a turnover of Rs 5,000 crore by 2011 and is constantly capitalising on untapped areas and opportunities in both organic and inorganic ways to drive the next level of growth."
In 2005-06, the company recorded net sales of Rs 1,345 crore. He added, "The board today has approved the proposal for raising $200 million from domestic/international market by issue of any class of securities including global depository receipts, American depository receipt, foreign currency convertible bond amongst others."
The board has also approved subdivision of existing shares of Rs 10 each into five shares of Rs 2 each, Mundhra added. The board has recommended the same for approval of the members at the ensuing annual general meeting.
Meanwhile, the current order book position of the company was above Rs 4,500 crore, said Mundhra. "Our order book, which is over Rs 4,500 crore, is not only growing in terms of quantity but quality as well and we are executing some large projects across diverse sectors in India & international markets," he explained. The company is also planning to bid for build operate transfer (BOT) projects/ annuity projects in roads & highways, power transmission, ports, hydro, railways and water supply.
"We are also targeting turnkey, operation and maintenance project in metal, cement, oil and gas pipelines," he noted. Simplex Infrastructures led consortium has emerged as a leading bidder for the Rs 250 crore stadium deal from the Jharkhand government. Senior executives of Simplex confirmed that it had bid for two stadiums at Ranchi in association with the UK-based construction firm Laing O' Rourke. The deal is likely to conclude this week.
In addition, it is bidding for a handful of contracts in North Africa for industrial construction, roads and power projects. The combined value for these contracts stands at Rs 500 crore. Simplex has tied up with US-based developer Heins for bidding for developing 350 acre of residential-cum-commercial complex in West Bengal. For funding its growth plan, the company will raise Rs 900 crore from the domestic as well as foreign markets. Simplex is also planning to tie-up with national and international majors for entering into mining sector.
Meanwhile, Simplex Infrastructures registered a jump of 65.4 per cent net profit at Rs 42 crore during 2005-06 against Rs 25 crore in 2004-05. Total income from operations grew to Rs 1,345 crore during 2005-06 against Rs 999 crore in the previous fiscal. The company has recommended a dividend of Rs five per share on face value of Rs 10 each for the year ended March 31, 2006.
posted by Raj @ 12:49 PM
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