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NTPC-BHEL Power Projects Ltd has recorded a turnover of Rs 115 crore and a profit before tax of Rs 10 crore during the financial year 2010-11.
NBPPL, a joint venture between NTPC and BHEL, was set up in 2008 to carry out engineering, procurement and construction (EPC) contracts for power projects apart from manufacture and supply of equipment in India and overseas.
“For the year ended 2010-11, the company has achieved a record turnover of Rs 115 crore against the MoU target of Rs 90 crore, thus crossing a turnover of Rs 100 crore in the very first year of its commercial operation,” the company said in a statement today.
Profit before tax stood at Rs 10 crore during the last fiscal compared to the MoU target of Rs 4 crore.
A MoU (memoradum of understanding) for the targets was signed by the company with NTPC and BHEL.
NBPPL’s power equipment manufacturing facility at Mannavaram in Andhra Pradesh is expected to start production in 15 months. The firm would set up the facility for coal and ash handling plants by 2012-13, the statement said.
“The company is expecting orders for 1x500-MW Unchahar TPS from NTPC and 1x100-MW gas-based Combined Cycle Power Project from NEEPCO,” the statement said.
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