BWI: Simplex Projects Posts Impressive Results for Q3/ Nine Months, FY 2008-09

Press release from Business Wire India
Source: Simplex Projects Ltd
Friday, January 30, 2009 05:55 PM IST (12:25 PM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Construction, Financial Analyst, Real estate, Stock exchanges; Technology
Release no: 19103
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Simplex Projects Posts Impressive Results for Q3/ Nine Months, FY 2008-09


New Delhi, Delhi, India, Friday, January 30, 2009 -- (Business Wire India) -- Simplex Projects Limited, a leading Civil Engineering & Construction Company, today announced its results for 3rd Quarter & 9 months ended December 31, 2008.

Financial Highlights - Third Quarter:

-- Total Income for Q3 FY 2008-09 at Rs.75.43 crores as against Rs. 58.69 crores reported in the Q3 FY 2007-08, is higher by 28.52%. Total Income for nine months FY 2008-09 at Rs. 207.87 crores, higher by 28.15%.

-- The Earnings Before Interest, Depreciation & Tax (EBIDTA) for Q3 FY 2008 - 09 increased by 16.55% to Rs. 8.47 Crores from Rs. 7.27 Crores while for the nine month ending 31st December, increased by 14.05% to Rs. 23.41 Crores, from Rs. 20.52 Crores last year.

-- The Profit after Tax (PAT) has decreased by 6.21% in Q3 to Rs. 4.91 Crores from Rs. 5.24 Crores reported in the quarter ended December 2007. For the nine months period it stood at Rs. 14.05 Crores registering an increase of 2.64%.

-- EPS for the quarter ended December 2008 is at Rs. 4.09 while for the 9 months ended December 2008 it is Rs. 11.71.

-- Awarded a Rs. 2000 crores contract for development of a Housing project in Libya from Govt. of Libya as public works contract.

-- Awarded a Rs.75 Crores contract for renovation of Talkatora Indoor Stadium from NDMC.

Commenting on the performance for the period ended December 2008, Mr. B. K. Mundra, CMD, Simplex Projects Limited, said, "This has been a landmark quarter where in we have set up our global footprint by venturing in to developing Rs2000 Crores integrated township project in Libya. We are fully geared-up for to face the challenges and would aggressively be pursuing the opportunities across the country and overseas."

During the quarter, SIMPLEX Projects has been awarded a contract for development of a housing project in Libya. The project is valued at Rs. 2000 Crores was awarded to Simplex Projects from Govt. of Libya as public works contract. The project includes construction of public building, schools, health centers, mosque, community hall and shopping complex.

Company has also has been awarded a contract from NDMC (New Delhi Municipal Corporation) to carry out major renovation and improvement work of Talkatora Indoor stadium, which will host the boxing events during the Common Wealth Games 2010. The contract valued at Rs. 75 Crores. Besides this, Simplex Projects is also executing another stadium project valued at Rs. 160 Crores, which includes a double basement car parking facility to accommodate more than 500 cars. The completion date for this project is November 2009.

The company's focus area of business includes residential buildings; industrial structures; hospitals; universities and educational campuses, transportation engineering like roads, bridges, flyovers & underpasses; irrigation and water supply projects; sewerage projects; commercial and and multi-level car parking.

Simplex Projects' clientele includes some of the major public sectors organizations like NBCC Ltd. BHEL, SBI, Konkan Railway, CPWD, Eastern Railway and major private sector organizations like L & T, DLF, Indian Hotels, Unitech, Godrej, Bengal Ambuja, Wipro, TISCO, Siemens Ltd.

Some of the ongoing civil and structural projects include construction of roads, flyovers and bridges in Patna and New Delhi; building projects for NBCC and New Delhi Municipal Corporation, Sports complex at Gangtok, Sikkim; design and construction of water treatment plant for PWD, Government of Manipur; and major piling and structural work for Delhi Metro, Marriot Hotel Kolkata; foundation work for WBIDC housing complex.

Simplex Projects has recently executed some major turnkey projects like construction of 4 road bridge at Patna; construction of 4 lane over-bridge at Taratala, Kolkata; construction of bridge at Shaktigarh and Palsit; construction of 14 story building for Bengal Ambuja Cement at Kolkata; civil and construction work for a 36 MW power project at Imphal, Manipur; civil and construction work at Bihar Caustic & Chemicals ltd. plant at Garhwa Road.

About Simplex

Simplex Projects Ltd. is primarily engaged in infrastructure construction and has a strong presence in the North and Eastern India. Incorporated in 1990 as a Public Limited Company, Simplex Projects started commercial operations in 1993. In a decade of its working the company has emerged as a major civil engineering and construction company. It's plant and Equipment resources encompass a very vide spectrum to include state of the art piling and construction equipment like Piling Rings(Driven and Bored), Boring Equipments, batching Plants, Concrete Mixers, Heavy Generator Sets, Construction Lifts, Shuttering, Scaffolding material and many more. Simplex Projects has technical collaboration with International construction giants for advance technique and research facilities in engineering. It also has technical rights to develop various kinds of fully Automatic mechanical Car Parking Systems.


CONTACT DETAILS
Raghwesh Singh, Mutual PR, +91 9810019989, rsingh@mutualpr.com
Vikas Mahajan, Mutual PR, +91 9953619912, vikas@mutualpr.com

KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, CONSTRUCTION, Financial Analyst, REAL ESTATE, STOCK EXCHANGES, TECHNOLOGY

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