RPP Infra Projects ventures into Indonesian power project

The scope of work includes finance, designing, procurement, construction, commission, operation & maintenance of a coal fired steam power

RPP Infra Projects Ltd has passed the pre-qualification norms for the "Mamuju IPP Power Project" in Indonesia through its consortium with Truba Manunggal Power & Energy Ventures Ltd.

The consortium is expected to develop two projects of net capacity 2x25 MW each. These projects namely Mamuju Coal Fired Steam Power Plant IPP & Kendari Fired Steam Powered Plant IPP are connected to 150 kV Sub Station.

The scope of work includes finance, designing, procurement, construction, commission, operation & maintenance of a coal fired steam power plant using BOOT scheme which shall then be transferred to PLN.

P Arulsundaram-CMD, RPP Infra Projects said, "We have passed through tough competition to win this project. We are also hopeful that this is the beginning of many more such projects."

Truba Manunggal Tbl (TM) was incorporate in January 2001 and was listed on October 2006. The company's shares are currently traded on the Indonesia Stock Exchange.

On Tuesday, RPP Infra ended 1.25% up at Rs81.05 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.79% to 18,653.87

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Godrej Properties to develop two residential projects

Godrej Properties enters into a profit sharing joint venture with Godrej & Boyce to develop projects in Hyderabad and Thane

Godrej Properties Ltd (GPL), the real estate development arm of the Godrej Group, has formed two LLPs with Godrej & Boyce to develop residential projects in Hyderabad and Thane.

Godrej Buildcorp LLP (GB LLP) will develop the 9.16 acres land parcel at Moosapet, Hyderabad. The approximate developable area will be 2 million square feet. This is a profit sharing arrangement with GPL getting 35% of the profits from the project.

Godrej Property Developers LLP (GPD LLP) will develop the 3 acre land parcel at Thane. The approximate saleable area will be 0.26 million square feet. This is also a profit sharing arrangement with GPL getting 32% of the profits from the project.

Pirojsha Godrej, executive director, Godrej Properties said, "We are very happy to have entered into two LLP's with Godrej & Boyce. These are the second and third developments after our project, The Trees, in Mumbai that we will do in partnership with one of our Group companies. We look forward to additional future opportunities to partner with our Group companies. Our aim will be to create outstanding projects that offer our customers an environmentally friendly, well designed living environment."  

On Tuesday, GPL ended 2.31% up at Rs807 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.79% to 18,653.87.

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Greenply Industries net profit rises Rs12.96 crore for June quarter

Greenply Industries reported net sales of Rs352.32 crore for the June 2011 quarter, registering a growth of 34.44%

Greenply Industries Ltd said that its net profit for the quarter ended 30 June 2011 stood at Rs12.96 crore, compared to Rs10.39 crore in the corresponding quarter of last fiscal, registering a growth 24.69%.

The company reported net sales of Rs352.32 crore for the June 2011 quarter, registering a growth of 34.44% against Rs262.07 crore in the same period of the last fiscal. Earnings per share (diluted) for Q1FY11-12 stood at Rs5.37, compared to Rs4.31 in Q1FY10-11.

Saurabh Mittal, joint managing director & CEO, Greenply Industries said, "We have achieved a growth of 34.44% during the first quarter, and we expect better results in future on achieving optimum utilisations and superior value-mix in the new MDF and laminate plants."

On Tuesday, Greenply ended 2.63% down at Rs228 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.79% to 18,653.87.

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