I am very pleased to extend a warm welcome to each one of you to 13th
Annual General Meeting of your Company.
June this year witnessed series of measures that outlined the
Government''s agenda for pushing the infrastructure sector projects with
specific targets for 2012-13 to take the GDP growth rate to 9 per cent
at a high-level inter- ministerial meeting chaired by the Prime
The announcements include: 2 new major ports in Andhra Pradesh and West
Bengal, 3-4 international airports, airline hub policy, elevated
freight corridor in Mumbai, and bullet train from Mumbai to Ahmedabad,
apart from that NHAI and DMRC had announced Rs 70,000 Cr of various
While things look rosy for the coming years if the Government''s agenda
gets implemented in full, the fact remains that the country''s overall
GDP has fallen8.4%inFY''llto6.5%inFY''12.
The Eleventh Five Year Plan (2007-2012), for instance, anticipated at
creating 78,700 MW of new power generating capacity however could
achieve only 70% of it by FY''12. Similarly the projects of the
National Highway Authority of India (NHAI) are running behind schedule.
As the macro economic outlook was dismal between FY 11 and FY12, this
had its bearing on your Company too. The revenues slipped from Rs.
95627.38 Lacs to Rs. 93828.05 Lacs, a fall of 1.88%.
Before concluding my speech, I would like to inform you that this is
only a temporary blip as our order book is healthy at Rs. 2,51,253
lacs at the close of FY12. Our Company is also diversifying at other
locations in order to tap upcoming opportunities in other states.
Towards this end it has already bagged a few large sized projects in
Delhi, Rajasthan and Gujarat and is also bidding in other states also.
I must express my profound gratitude to all of you for the steadfast
confidence you have reposed in our Company and the Team J Kumar through
all the times.