NALCO plans to diversify into nuclear power

NALCO has identified Kakarapar Atomic Power Station (KAPS) - 3 & 4 project for development, jointly with Nuclear Power Corporation of India Ltd at a cost of Rs11,450 crore.

State-run aluminium major NALCO today said it plans to diversify into nuclear power generation by investing Rs 11,450 crore jointly with Nuclear Power Corporation of India in a project.

Addressing at the annual general meeting, NALCO CMD B L Bagra said that the company has identified Kakarapar Atomic Power Station (KAPS) - 3 & 4 project for development, jointly with Nuclear Power Corporation of India Ltd at a cost of Rs11,450 crore.

The recommendation for the investment is under consideration by the government, he said.

"The company earned a net profit after tax of Rs 1,069 crore in 2010-11 as compared to Rs 814 crore in previous year, registering a jump of 31%," Bagra said.

Similarly, sales revenue during the year at Rs 5,959 crore was higher by Rs 904 crore, an increase of 18% as compared to the previous year, he said.

Rise in profit was because of higher sales, Bagra said adding the results would have been still better, but for the adverse impact of exchange rate of rupee on sales, which made a dent of Rs 159 crore during the year.

Operating cost was higher by Rs 399 crore, an increase of 10% over previous year due to increase in the prices of coal, fuel oil and wage revision, he said.

NALCO achieved highest-ever domestic metal sale of 340,752 tonne surpassing the previous record of 289,032 tonne in 2009-10. It was 17.9% higher than last year.

Total metal sale of the company in 2010-11 was 438,952 tonne, which is the highest-ever, surpassing previous best of 435,979 tonne achieved during the previous year, he said.

In the late afternoon, NALCO was trading at around Rs61.85 per share on the Bombay Stock Exchange, 0.73% up from the previous close.

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GVK Power subsidiary wins highway contract in MP

GVK emerged winner in the competitive bidding process for the four-laning of Shivpuri Dewas section of National Highway No 3 in Madhya Pradesh

GVK Power & Infrastructure today said its subsidiary GVK Transportation has bagged a contract for four-laning of Shivpuri-Dewas section of National Highway.

The subsidiary emerged winner in the competitive bidding process for the four-laning of Shivpuri Dewas section of National Highway No 3 in Madhya Pradesh, GVK Power & Infrastructure said in a filing to the BSE.

However, the company did not disclose the financial details of the contract to be executed on design, build, finance, operate and transfer pattern under the Phase-IV of the National Highways Development Programme.

The National Highways Authority of India has issued a letter of award to GVK Transportation Private Ltd, it said.

The Shivpuri-Dewas section lies on the country's 332-km long road, which is known as Mumbai-Agra Highway, it added.

It is a vital trade corridor connecting Western and Central part to Northern India spanning a length of 332 km.

The company has been awarded a concession period of 30 years, including a construction period of 2.5 years, it said.

The Concession Agreement for the project would be signed shortly, it added.

In the late afternoon, GVK Power was trading at around Rs15.80 per share on the Bombay Stock Exchange, 1.56% down from the previous close.

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Sobha Developers to invest Rs 250cr in Chennai property

Sobha Developers will be launching in new areas, especially in Chennai, where the property will be spread over 1 million sq ft. at an investment cost of Rs250 crore

The real estate company, Sobha Developers, said it will invest Rs250 crore to develop its property in Chennai.

"We will be launching in new areas. We will be launching in Chennai, where the property will be spread over 1 millionsq ft. The investment cost for this is Rs 250 crore," Sobha Developers managing director, J C Sharma, said on the sidelines of the Real Estate Investment Forum and Business Spaces 2011.

On the company's revenue, he said, "We are expecting Rs1,500 crore worth of new space sales (in the current fiscal) from Rs1,100 crore last year."

The firm registered a net profit of Rs182 crore in FY'11, an increase of 32.85%from Rs137 crore posted in the year-ago period.

Sobha sold 2.78 million square feet in FY'11 as against 2.08 million square feet in the year-ago period.

The Bangalore-based company said its total debt stood at Rs1,300 crore and it will repay close to 35% of the same this year. "Our total debt is Rs1,300 crore. In FY' 12, we have to repay Rs 450 crore."

The debt to equity ratio of the company is 0.65:1, the best it has ever had, Sharma said.

In the late afternoon, Sobha Developers was trading at around Rs217 per share on the Bombay Stock Exchange, 0.39% up from the previous close.

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COMMENTS

peter

5 years ago

Hai

I would like to invest my money in the land, i have chooses more then two places, in that 'The village' in the omr Chennai, It's attracted me very much because of the cheap rate luxury apartments. Is shoba developers going to build a apartments like that or shopping complex...?

Peter

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