Tag: construction

Amara Raja Batteries Q4 PAT dips 9% to Rs 99.19 cr

24/05/2017 16:48

India’s leading battery major Amara Raja Batteries Ltd on Wednesday reported a fall of 9.1 per cent in its standalone net profit after taxes (PAT) at Rs 99.19 crore for the fourth quarter ended March 31, 2017, on higher expenses.

“The standalone PAT of the company stood at Rs 109.06 crore during the same period a year ago,” Amara Raja Batteries Ltd said in a filing to the Bombay Stock Exchange on May 24, 2017.

However, its standalone total income grew by 17.8 per cent at Rs 1,526.99 crore during Q4 2016-17, as compared to Rs 1,296.04 crore during the same period last year.

The total expenses of the company rose by 21.7 per cent to Rs 1,378.95 crore, as against Rs 1,132.81 crore reported from the corresponding quarter of last financial year. The company’s board has recommended a dividend of Rs 4.25 per equity share (representing 425 per cent) on the equity share of Rs 1 each fully paid up for the financial year ended March 31, 2017, subject to approval of the shareholders of the company.

Meanwhile, shares of the company closed at Rs 834.85 apiece, down 4.50 per cent, from previous close on BSE.

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PNC Infratech bags Rs 2,720 cr road proj from NHAI in UP, MP

PNC Infratech bags Rs 2,720 cr road proj from NHAI in UP, MP

24/03/2017 15:09

Construction company PNC Infratech Ltd on Friday said it has emerged as the lowest bidder in two highway projects of NHAI worth Rs 2,720 crore in the states of Uttar Pradesh (UP) and Madhya Pradesh (MP).

In a filing to the Bombay Stock Exchange, the company said, “PNC Infratech Ltd has been declared the L1 (lowest) bidder in the following two (2) hybrid annuity highway projects of NHAI for an aggregate Bid Project Cost (BPC) of Rs 2,720 crore.”

The company said that one of the projects pertain to 4-laning of Jhansi-Khajuraho section of NH 75/76 (package I) in Uttar Pradesh and Madhya Pradesh under NHDP III for Rs 1,410 crore.

It added that 5 firms participated in the bidding and the price bids were opened on Thursday with PNC’S bid being the lowest (L1), it said.

Besides, the other project is 4-laning of Jhansi-Khajuraho section of NH 75/76 (Package II) from km 76.30 to km 161.70 km in UP and MP under NHDP III for Rs 1,310 crore, it said.

The company further added that, “Six firms participated in the bidding…with PNC’s bid being the lowest.”

Meanwhile, shares of the company were trading at Rs 115.40 apiece, up 1.36 per cent, from previous close on BSE at 15:14 hours.

Naidu asks NBCC to forge more partnerships with States

Naidu asks NBCC to forge more partnerships with States

06/10/2016 17:11

State-run National Buildings Construction Corporation (NBCC) on Thursday presented a dividend Cheque of Rs.108 cr for 2015-16 to minister of urban development M.Venkaiah Naidu.

Complimenting NBCC for sustained increase in turn over and profits over the last few years, Naidu asked the company management to further expand and diversify its business profile by forging partnerships with State Governments and other agencies.

The minister also directed the management to immediately initiate action on seven redevelopment projects in Delhi entailing an investment of about Rs 35,000 cr, recently approved by the Union Cabinet. Naidu discussed in detail the progress of ongoing projects and future initiatives of NBCC.

A.K.Mittal, Chairman and Managing Director of NBCC informed the minister that the company has acquired new project orders for Rs 17,516 cr during 2015-16 and with total work orders of over Rs 70,000 cr, NBCC is the second largest construction company in the country. The company has declared a total dividend of Rs 120 cr for 2015-16 of which the Government’s share was Rs 108 cr.

NBCC has recorded the highest revenue of Rs 5,838 cr during 2015-16, marking an increase of 32 per cent over the previous fiscal.

Construction pace of road increases to 139 km/day: Reports

07/09/2016 10:00

A top Official has said that the construction pace of roads built under the flagship scheme of PMGSY has increased to 139 km per day.

Commenting on the issue, Secretary, Rural Development, Amarjeet Sinha told the media, “From 2011 to 2014, the roads in rural areas under the Pradhan Mantri Gram Sadak Yojana (PMGSY) were constructed at 70-75 kilometer per day. And in next two years 2014-16, it increased to 100 km per day. Today the roads are being constructed at 139 km per day.”

“While the construction speed was 139 km in the first five months, 133 km will be constructed per day under the PMGSY in 2016-17. The Centre has adopted green technologies such as use of waste plastic, fly ash, cold mix, jute and coir geo-textiles, copper and iron slag in the making of rural roads,” he added.

As per reports, rural roads is a state subject and PMGSY is a one-time special intervention of the government to provide rural connectivity by way of single all-weather road connectivity to eligible, unconnected habitations in the core network.

HCC’s lenders approve loan restructuring under RBI’s S4A scheme

HCC’s lenders approve loan restructuring under RBI’s S4A scheme

13/07/2016 15:28

Infrastructure firm Hindustan Construction Company (HCC) today said that its lenders have agreed to restructure its loans under RBI’s recent S4A scheme.

“The joint lenders’ forum meeting of HCC held on July 12, 2016 has passed to resolve the account under the recent RBI guidelines ‘Scheme for Sustainable Structuring of Stressed Assets (S4A)’,” the company said in a BSE filing.

The company said it will help it bridge the gap of ‘Cashflow Timing Mismatch’ between claims realisation (including its interest) and debt servicing.

It further said: “Under S4A scheme, the debt of the company will be bifurcated into two parts – sustainable debt, which cannot be less than 50 per cent of existing debt and will have to be serviced over the same terms as that of existing facilities.

The other unsustainable part of the loan can either be converted into equity/redeemable optionally convertible preference share\optionally convertible debentures, with clearly spelt out terms”.

HCC added that lenders get 90 days from ‘Reference Date’ (July 12) to formulate the resolution plan and implement the same, along with necessary internal approvals.

HCC, which has a debt pile of over Rs 12,000 crore, in its annual report for the previous fiscal, said it is finding it difficult to get buyers for its asset monetisation plan.

The company is keen on monetising its non-core assets to generate cash and repay debt.

Meanwhile, shares of the company were trading at Rs 23.95 apiece, down 1.64 per cent from the previous close at 15:20 hours on BSE.