Consolidated Construction Consortium has received orders for Airport Terminal Building at Dehradun valued Rs 34.64 crore, Paediatric Hospital building at Bangalore valued Rs 16.00 crore, Auto components plant at Singur, WB valued Rs 6.27 crore, Five Star Hotel building at Chennai valued Rs 38.60 crore, Housing Project at Chennai valued Rs 100.00 crore, Factory building at Nalgonda, AP valued Rs 17.00 crore and Others valued Rs 29.51 crore during the month of January 2008.
Month: February 2008
Moser Baer plans 600 MW thin film PV capacity
Moser Baer India has informed us that its wholly owned subsidiary, PV Technologies India, has signed a memorandum of understanding (MoU) with a leading global equipment supplier to secure supply of critical equipment for a 565 MW phased expansion of its thin film photo voltaic modules manufacturing capacity, which together with the current project capacity of 40 MW will take the total manufacturing capacity to over 600 MW by 2010.
Thin film solar modules are ideal for energy farms, rural applications and building integrated photo voltaic markets. Photovoltaic modules based on large area thin film technology provide a path to cost parity between solar grid power. According to market estimates, the thin film based solar modules will see large emerging applications and a robust demand that, according to industry estimates is expected to grow ten fold; from 250 MW currently to 2GW with a market size of $5 billion by 2010.
Emaar MGF Withdraws IPO
Our analyst in Mumbai is informing that the Greedy management of EMAAR MGF Real Estate has withdrawn the IPO.
We were the only one to BOLDLY put an AVOID rating on the IPO. However, things changed this late afternoon as QIBs and FIIs withdrew their bids and the subscription fell from 0.83% to just 0.43%.
Puravankara Projects – Lehman initiates coverage
Lehman Brothers equity research has initiated coverage on Puravankara Projects with an OVERWEIGHT rating. Puravankara Projects Ltd (PPRO) is a high-quality real estate group exposed to the rapid economic growth of South Indian cities such as Bangalore,Chennai, and Kochi.
Puravankara has a high-quality landbank of 107m sq ft, and most of it is close to the economic hubs of cities. Average cost of acquisition is only INR 97 psf. (more…)
Simplex Castings receives Railways Order
Simplex Castings has bagged an order worth one hundred and forty million rupee from Ministry of railway, Governemnt of India for supply of coco bogies (chasis for electrical locomotive, WDG-4). Also orders worth more than one thousand two hundred million rupees are in hand which includes export orders worth three hundred million rupees from the company’s valued clients like Indu steel – France, Arcellor – Spain, Ingersoll Rand – Italy, Sandwik Asia – Pune, Al – Nasar Company for coke & chemicals – Egypt, Hyundai Corporation – Korea. The company is in a position to meet the rising demand of its customers who are fully satisfied with its quality.
Due to growing demand & consumption of the company’s products, there are lots of growing prospect for the company and in current year the company expects better result in comparision to the last year.
KEC International – Outperformer
KEC International reported a net profit of Rs526mn for the merged entity (inclusive of RPG transmission and NITEL) for the quarter, while the adjusted net profit (standalone KEC) was at Rs448mn (17% yoy), in line with our estimates. KEC’s revenues grew by 8% yoy to Rs6.2bn, while margins expanded by 60bps to 14.7% yoy led by execution of higher margin orders and execution of value added component of contracts.
On a consolidated basis (inclusive of RPG transmission) KEC has an order backlog of Rs50bn.The pipeline of international orders is extremely robust mainly driven by huge capex in Middle East (led by firm oil prices – 30% of international order backlog) and African countries (led by multilateral agency funding – 20% of international order backlog). (more…)