Subhash Projects - Bags Orders Worth Rs. 309 Cr.

Subhash Projects - Award Of Orders For Rs 309 Crores

Subhash Projects & Marketing Ltd has informed BSE that the Company has bagged orders cumulatively worth Rs 309 Crores for execution of power projects. These include projects worth Rs 220 Crores to be executed for Karnataka Power Transmission Corporation Ltd and Hubli Electricity Supply Co. Ltd. in Karnataka and Rs 89 Crores for Power Grid Corporation of India Ltd. (PGCIL) in Bihar on turnkey basis.

The scope of work in Karnataka includes upgradation of existing sub-stations, construction of 220/110/66 KV sub-stations and transmission lines. The order for PGCIL in Bihar involves construction of new underground cabling as well as revamp of existing limes under the APDRP Phase – II. The completion period for the above projects will be 6-18 months.

The Company has entered the power business in 2001 and is one of the foremost players to participate in the rural electrification drive. On April 09, 2007, the Company's power business contributes to around 50% of total order book, currently at Rs 2900 Crores.

Source : Bombay Stock Exchange

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Subhash Projects & Marketing Ltd. - Initiate Coverage

Subhash Projects & Marketing Ltd has informed BSE that the Company has entered into a Memorandum of Understanding (MOU) with the Government of Gujarat, represented by the Gujarat Urban Development Company Ltd for investing in various City Development Plans of Gujarat in the following areas, namely:

- Water Supply & Sewerage Management
- Solid Waste Management
- Electricity Utility Management
- Roads
- High Capacity Bus Services
- Car Parking
- Storm Water Drainage
- Real Estate Development - Township Development / Shopping Malls / Entertainment Plaza

The proposed investment of the Company is approximately Rs 5000 crores and the Scheme is likely to commence operation by March 2010 / 2012. The Government of Gujarat will extend full support in providing basic infrastructure facilities like land, power, roads, water supply, etc and obtaining the statutory approvals for establishing and efficient running of the aforesaid projects.