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Madhucon Projects

BSE: 531497|NSE: MADHUCON|ISIN: INE378D01032|SECTOR: Construction & Contracting - Civil
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Mar 08
Chairman's Speech (Madhucon Projects) Year : Mar '09
The company, during the Financial Year 2008-09 has surpassed the major
 milestone of Rs.1000 Crores in revenue, with improved net profit. At
 the end of 2008-09 your companys order book position stands at Rs.5300
 Crores which would translate into improved performance in revenue and
 profit for the Financial Year 2009-10.
 
 Inspite of deteriorating global economic condition and ever threatening
 financial meltdown in 2008-09, the resilient Indian economy could
 witness a GDP growth rate of 6.7%. The infrastructure projects continue
 to get fillip from the Government in the form of ambitious investment
 plan of 65% of the total capital budgeted over the next five years in
 the sectors of Roads, Power, Ports, Airports, Railways and Mining and
 are adequately supported by the private sector by their participation
 in infrastructure development.
 
 Your company is well poised to gain from the favourable infrastructure
 development taking place in different sectors and would pave the way
 for substantial growth of the company. Your companys strategic
 decision in reorganizing the business models to create value and assets
 for the shareholders has paid rich dividends. Your company is
 successful in creating assets in BOT Roads, Power, Coal Mine and Real
 Estate in the shape of Hotel, Mall and Office complex. Your company has
 commissioned one BOT NHAI road project viz., Madhucon Agra - Jaipur
 Expressways Limited to commercial operation. Other 3 BOT Highway
 projects are expected to be commissioned before the end of this
 Financial Year. Your company hopes to earn a total toll revenue of
 approximately Rs.60 Lakhs per day, once all the 4 BOT projects are
 commissioned. Projects under the EPC divisions such as Irrigation,
 National and State Highways are progressing satisfactorily.
 
 The first phase of 540 MW Thermal Power Plant at Krishnapatnam is
 progressing well. Your company has increased Equity participation in
 the Power project to 74% and is planning to increase the capacity to
 1600 MW. Feasibility report in this respect is under preparation.
 
 Your company has achieved Financial Closure of the four star hotel
 project being planned in Hyderabad with service apartments and the
 construction shall be commencing shortly, along with the office
 complex.
 
 Your companys coal mining project in Indonesia is progressing well and
 during the Financial Year 2009- 10, the coal production and commercial
 operations shall commence.
 
 With the onset of stability in the Indian economy, the thrust given by
 the Government towards infrastructure development and improved business
 environment, your company will have a greater role and opportunity to
 play as a major player in the infrastructure development of the
 country.
 
 I wish to express my sincere gratitude and appreciation for the strong
 commitment shown by the employees in achieving the growth of the
 organization. I thank the customers, banks, business associates and
 above all, our shareholders for their continuous support to and faith
 in the Company.
 
                                                      N. Nageswar Rao
                                                             Chairman
 
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