Thursday, December 16, 2010

Vascon's H1 FY11 consolidated income grows to Rs. 431.69 crore up 19.09%. Net Profit up 33.21 % to Rs. 31.62 crore

Vascon Engineers Ltd H1 FY11 consolidated income grows to Rs. 431.69 crore up 19.09%.
Net Profit up 33.21 % to Rs. 31.62 crore 

H1FY11 Result
• Total income at Rs 431.69 crore, up 19.09 %
• Net Profit at Rs 31.62 crore, up 33.21 %

Q2FY11 Result

  • Total income at Rs 225.35 crore.
  • Net Profit at Rs 17.77 crore, up 34.49 %
  • Take over of GMP Technical Solutions Pvt. Ltd.
  • Acquisition of township project in Chennai
  • Launched ‘Forest County’ residential project in Pune

Vascon Engineers Ltd, a leading real estate and EPC player, on a consolidated basis recorded a turnover of Rs. 431.69 crore for H1FY11 as against Rs. 362.50 crore in H1FY10; marking 19.09% of growth. Similarly, net profit for the six months period was reported at Rs. 31.62 crore compared to Rs. 23.73 crore; an increase of 33.21%.

For Q2 FY11, Vascon Engineers Ltd. recorded a total income of Rs. 225.35 crore for Q2 FY11 as against Rs. 219.91 crore in Q2FY10. However, net profit touched Rs 17.77 crore against Rs 13.22 crore in Q2FY10 increased by 34.49 %.

During the second quarter, Vascon successfully took over GMP Technical Solution with a cash outflow of Rs 62.63 crore. GMP Technical solution is a company engaged in the manufacturing of modular clean room partitions and office partitions apart from offering HVAC, electrical and building management (BMS) systems.

Vascon acquired a township project consisting of 105-acre in Chennai. Forest County, an 18 acre, 18 building, residential project was also launched successfully in Pune.

Said R Vasudevan, Managing Director of Vascon Engineers Ltd: “Vascon has stuck to its strategy of a healthy mix between EPC and development projects and that is paying rich dividends. We are on the threshold of an exciting phase of growth and we hope to make a significant contribution to infrastructure development in the years to come. We plan to increase our presence in other tier II and tier III cities in the near future.” 

About Vascon Engineers:

Vascon Engineers Ltd. (VEL) is engaged in Real Estate Projects and EPC services with a track record of 25 years. EPC operations are in a number of states and union territories in India, providing high quality and innovative projects on a timely basis. EPC operations are focused on building construction in diverse areas like pharma, hospitals, factory buildings, educational institution buildings, Government buildings, MES, hospitality building etc. Real Estate projects comprises of residential and office complexes as well as shopping malls, multiplexes, hospitality properties and IT parks.

Mr. M. Krishnamurthi
Vascon Engineers Ltd
Tel: +91-20- 3056 2100

Parvathi Nair
Adfactors PR
Tel: +91-22-2281 3565

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