Madhucon Projects Ltd is poised to commission the 300-MW first phase of 1,920-MW Simhapuri thermal power project by the end of this year and another 300-MW phase II plant by August 2012.
The company is making arrangements for coal supplies from its subsidiary PT Madhucon Malaysia after it secured in-principle clearance for jetty construction. The coal production is expected to commence in January 2012.
Madhucon has also been chosen as a preferred bidder for a 300-MW mine mouth power project in Indonesia.
The power project, being executed through its arm Simhapuri Energy, is coming up at Thamminapatnam in Nellore district close to the Krishnapatnam port. The thermal plant is under execution over three phases of 2x150, another 2x150 under phase II and 2x660-MW supercritical units under phase III.
The Hyderabad-based infrastructure company, which is into construction, road, power and coal mining, has eight road projects under its portfolio.
It has completed four tollways and three other road projects have commenced after the company achieved financial closure. It now commands an order book of Rs 6,500 crore and is pre-qualified for EPC contracts worth Rs 20,000 crore.
The company has recorded a net profit of Rs 6.05 crore for the second quarter ended September 30, 2011 against Rs 6.73 crore for the corresponding quarter last year. The depreciation for the September quarter amounted to Rs 12.75 crore against Rs 11.77 crore for the corresponding quarter last year.
The company registered a growth of 18.31 per cent in its turnover at Rs 416.05 crore for the September quarter (Rs 351.65 crore). Its gross profit was up 83 per cent at Rs. 42.21 crore (Rs 23.02 crore).