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Our Bureau

Hyderabad, May 1

Madhucon Projects Ltd’s net profit increased 58 per cent to Rs 18.26 crore in the fourth quarter ended March 31, 2008 compared with Rs 11.55 crore in the same quarter of the previous fiscal due to higher income and lower depreciation costs.

The total income had gone up 28.7 per cent to Rs 234.78 crore (Rs 183.13 crore).

For the year 2007-08, the company’s net profit increased 26 per cent to Rs 52.42 crore (Rs 41.56 crore) backed by 44.6 per cent increase in total income to Rs 737.99 crore.

The company’s order book for Engineering, Procurement and Consulting (EPC) and Build, Operate and Transfer (BOT) division stood at Rs 4,300 crore as on March 31, 2008. Its four BOT projects of National Highway Authority of India (NHAI) valued at Rs 2,000 crore (330 km) were proceeding on schedule and the first two projects, Madhucon Agra-Jaipur Expressways Ltd and TN Expressways Ltd would be starting operations from 2008-09, according to a release.

The 540-MW power unit being set up by Madhucon at Nellore, Andhra Pradesh, with Rs 2,700 crore investment, was ready to commence operations soon.

In addition to a memorandum of understanding with the Jharkhand Government for setting up a 1,000-MW thermal power unit, Madhucon had also received two letters of award for two hydel power projects of 160 MW each in Arunachal Pradesh.

The company is currently constructing a commercial venture consisting of a hotel, shopping mall, office complex and Cineplex in a 9.2-acre plot at Kukatpally here at an investment of Rs 900 crore, the release added.

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