Simplex Infra - Bags Delhi Metro Rail Project

Simplex Infra Bags Rs 212 cr Contract From DMRC

Simplex Infrastructures Ltd today said it has bagged a contract worth Rs 212.11 crore from Delhi Metro Rail Corporation Ltd for construction works.

The contract entails Part Design and Construction of viaduct and structural work of Three Elevated Stations (Chattarpur, Ghitorni and Arjangarh) on Qutub Minar - Gurgaon Corridor of Delhi MRTS Project of Phase II.

Simplex Infrastructures' focus is on construction projects in segments like piling, thermal power projects and in marine construction projects. The company has an order-book of over Rs 5,000 crore, which is more than three times its FY 2006 revenue of Rs 1,342.80 crore. Simplex Infrastructures, whose overseas presence is mostly confined to West Asia, now eyes North Africa, South East and Central Asia. Overseas operations currently account for 15% of the company's order-book and 10% of revenues.

Its overseas projects at hand include the 23-km Dubai Metro project, and a project to construct roads and bridges in Sri Lanka. Simplex already has a permanent joint venture in Bahrain. Recently, the company decided to diversify into real estate development – in both commercial and residential properties. The company proposes to form a joint venture with the West Bengal Housing Board for real estate development projects.

Simplex Infrastructure reported 21.2% fall in net profit (due to seasonality of its business) for Q2 September 2006 to Rs 7.06 crore (Rs 8.96 crore). Operating revenue rose 29.8% to Rs 356.30 crore (Rs 274.50 crore). Shares of the company were trading at Rs 390.70, up 8.77 per cent at the BSE.