Simplex Infrastructure declares 50% dividend
Kolkata-based infrastructure company Simplex today posted a dip of 18.23 per cent in net profits at Rs 10.63 crores for the quarter ended March 31.
By PTI |
MUMBAI: Kolkata-based infrastructure company Simplex today posted a dip of 18.23 per cent in net profits at Rs 10.63 crores for the quarter ended March 31, as against Rs 13 crores in the corresponding quarter last year while declaring a dividend of 50 per cent.
However, for fiscal 2005-06, the profits were up 65.4 per cent at Rs 41.64 crores as against Rs 25.17 crores in the previous fiscal.
Going forward the company plans to raise about Rs 900 crores, through both equity and debt, to augment growth, Simplex Director Amitabh Mundra told reporters here.
"We have not decided on the route to raise the funds but it would be in multiple tranches over 12 to 18 months," Mundhra said adding it could be in domestic or international markets.
The net sales for the fourth quarter stood at Rs 396.27 crore as against Rs 307.81 crores while for the fiscal it was Rs 1344 crores as against Rs 999 crore in the previous fiscal.
"We expect our top line revenues to touch Rs 5000 crore by 2011," Chairman and Managing Director B D Mundhra said.
The company's current order book stands at Rs 4500 crores with a major portion of power projects.
"Simplex is also eyeing the real estate sector to tap emerging opportunities and we are in dialogue with suitable developers for join ventures in the sphere," Director Amitabh Mundhra said.
Also, to reduce regional dependency and increase margins, it would foray into new overseas markets.
"We have projects in Qatar, Dubai, West Indies and also see opportunities in North Africa and Central Asia," he said.
However, for fiscal 2005-06, the profits were up 65.4 per cent at Rs 41.64 crores as against Rs 25.17 crores in the previous fiscal.
Going forward the company plans to raise about Rs 900 crores, through both equity and debt, to augment growth, Simplex Director Amitabh Mundra told reporters here.
"We have not decided on the route to raise the funds but it would be in multiple tranches over 12 to 18 months," Mundhra said adding it could be in domestic or international markets.
The net sales for the fourth quarter stood at Rs 396.27 crore as against Rs 307.81 crores while for the fiscal it was Rs 1344 crores as against Rs 999 crore in the previous fiscal.
"We expect our top line revenues to touch Rs 5000 crore by 2011," Chairman and Managing Director B D Mundhra said.
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The company's current order book stands at Rs 4500 crores with a major portion of power projects.
"Simplex is also eyeing the real estate sector to tap emerging opportunities and we are in dialogue with suitable developers for join ventures in the sphere," Director Amitabh Mundhra said.
Also, to reduce regional dependency and increase margins, it would foray into new overseas markets.
"We have projects in Qatar, Dubai, West Indies and also see opportunities in North Africa and Central Asia," he said.
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