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    Saturday, 12 July 2014

    INDIA'S TOP 10 INFRASTRUCTURE COMPANIES

    (First list I studied) [not current list]

    It was difficult because filtering down the list to just ten names is a statistician’s nightmare.
    Of course, it would have been unfair if we had relied purely on statistics; there’s a lot more to it. We do not (and cannot) claim that this is the ultimate list since all such lists are subject to industry ups and downs.
    1 Larsen &Toubro Ltd
    Larsen &Toubro (L&T) remains the undisputed number one infrastructure company in India. Nobody could have summarised its role in nation building better than P Chidambaram, who called it India's only national sector company (on the company’s 70th anniversary when he was the Union Finance Minister). That was in 2007. Today, L&T continues to build on its reputation by maintaining an all round growth across the infrastructure segments where it operates. The recently concluded fiscal has been quite good for the company.
    As a company statement said, 'various cost optimisation initiatives launched by the Company, aided by lower input costs, led to an improvement in the profitability of both project and product businesses'.

    The Profit after Tax for L&T as a group for the year at Rs5451 crore grew by a whopping 44% as compared to the previous year. Subsidiaries and associate companies together contributed Rs613 crore to the Group's profits, posting a rise of more than 100% over the similar amount for the previous year. The Group’s consolidated total income registered Rs 43970 crore vis-a-vis Rs40511 crore for the previous year.
    The operating margin at 13.1% improved by 140 basis points over last year, while the order book crossed the Rs100,000 crore mark as of March 31, 2010. (The Engineering & Construction Segment’s contribution to this is Rs 63899 crore). The huge order book gives ample visibility to the company’s continued leadership position. L&T is well poised to take advantage of the opportunities presented by India's amazing infrastructure development. Moreover, L&T has considerable presence and capabilities in the international markets.
    www.larsentoubro.com
    2 Punj Lloyd Group
    This is the next 'No surprise' name. Punj Lloyd Group's consolidated total income for FY2010 stood at Rs10,539 crore with an EBIDTA of Rs218 crore and PAT at Rs108 crore. In a recent interview with Construction Week, Atul Punj, Chairman of the Punj Lloyd Group had said that his group aims to be amongst the top five EPC players globally by 2012.
    Quite pleased at the financial performance of the Group, he said, "We've seen good traction in order inflow from most of our business verticals during the quarter under review. Our order book continues to be robust at Rs27,770 crore which is 2.64 times of our FY10 revenues. Some of our large wins include India’s largest solar-based EPC contract as well as two projects from Mangalore Refinery. We have also completed repayment of all loans and outstanding of Simon Carves UK. The results of our initiatives enhance my confidence in our capabilities and strengths.
    I believe Punj Lloyd is well positioned to leverage the considerable opportunities in the infrastructure and hydrocarbons business." This year, the Group also won its first project in Thailand. The contract, valued at Rs574 crore, was secured from PTT Public Company Ltd, a Thailand state-owned oil & gas major and one of the largest corporations in Thailand listed in the Fortune Global 500 companies. Punj Lloyd Group sold its entire stake of 19.43% in Pipavav Shipyard (PSL) to the Company’s co-promoter, Skil Infrastructure, making profits of Rs3,071 million in the overall deal.
    www.punjlloydgroup.com
    3 Jaiprakash Associates Ltd
    Jaiprakash Associates Ltd (JAL) has emerged as a leading infrastructure conglomerate having business interest in a wide range of areas like engineering & construction, cement, power, expressways, real estate and hospitality. The Group showed an impressive performance during financial year ended March 31, 2010 with total revenues of Rs10316.04 crore; up 72.52% from Rs5979.52 crore in the same period last fiscal. This is the first time that the Group has crossed the Rs10,000 crore turnover mark.
    While Ebidta stood at Rs2891.44 crore up 40.36% from Rs2059.91 crore, the net profit (after extraordinary items) for FY10 stood at Rs1708.36 crore registering a growth of 90.45% from Rs897.01 crore in FY09. Commenting on this, Manoj Gaur, Executive Chairman, JAL, said, "The roadmap that we have laid at the start of the fiscal has helped us achieve an all round growth across all sectors. The group is fully geared up with the avenues opened by the government of India in infrastructure, real estate and power sectors. I would like to thank all our shareholders for the faith that they have reposed in the recent listing of our group company – Jaypee Infratech Ltd (JIL)."
    Commenting on the group’s performance in core business sectors, Mr Gaur further added, "We are currently on a high-growth path. Jaypee Group is a unique group with a de-risked business model having diversified portfolios with business interests in all spheres of infrastructure sector - be it engineering & construction, power, expressways and real estate."
    JIL sold over 1.5-million sq ft of developed real estate between April-May 2010 in the Group’s integrated township at Noida. In the last fiscal, JIL has sold over 13,000 units comprising of 20.35 mln sq ft area. In the cement business, Jaypee Group has an installed capacity of 21.3 MTPA and going forward it plans to scale up the capacity to over 33.00 MTPA by FY12.
    "With government’s impetus on infrastructure sector and our new capacities operating at full capacities, we expect a significant growth in our cement business," said Mr Gaur.
    http://www.jalindia.com/
    4 Lanco Infratech Limited
    With operating revenue up by 36% from Rs6945.66 crore to Rs9457.21 crore in 2009-10, Lanco Infratech is today one of the fastest growing infra companies in India. It has subsidiaries and divisions across a synergistic span of verticals including construction, power, EPC, infrastructure, property development and renewables.
    The company has Rs25713.70 crore worth of construction and EPC order book as on March 31, 2010 which is spread over power projects (88%); roads & building projects (8%) and other projects (4%). "The trajectory of the construction and EPC division is much strong and very visible. On a long run basis, at least over the next four years, we will see significant amount of visibility to the construction and EPC order book," J Suresh Kumar, CFO, Lanco Infratech Ltd told Construction Week.
    In the power segment, Lanco currently has 9311 MW under operation and construction. This includes 1349 MW under operation; 733 MW under synchronisation; 1875 MW expected be commissioned in FY 2011 and 5354 MW under construction. The company expects that 5354 MW of projects under construction to be commissioned by FY 2014.
    "In the space of power, we will be adding about 2,600 MW additional operating capacity this year, increasing our operational capacity to around 4,000 MW of which our merchant portfolio would be about 766 MW. The cash flows that we are going to generate from these projects will cater to the equity requirements of power projects which are currently under execution and development," Kumar added.
    The company is currently constructing two road projects in Karnataka, the 81 km Bangalore-Hoskote-Mudbagal stretch on National Highway 4 and the 82 km Neelamangla - Devihalli stretch on National Highway 48 on Build, Operate and Transfer (BOT) basis. The total project cost is estimated at Rs1300 crore and involves six laning of 16 km stretch and four laning of the remaining stretches.www.lancogroup.com

    5 Nagarjuna Construction Company
    Since crossing the Rs1 billion-turnover in 1995, Nagarjuna Construction Company Ltd (NCC) has kept itself busy establishing new divisions for its business. It established a property division in 1996, followed by transportation (roads, highways and bridges), water, electrical, power, irrigation, metals and oil & gas.
    With a strong order book worth Rs15,370 crore, NCC is today one of the most dynamic infrastructure companies in India. Its order book includes 24% from buildings & housings, 16% from water & environment, 21% from international projects, 13% from new divisions, 10% from irrigation, 8% from transportation, 5% from electricals and 3% from metals. The company is looking at building an order book of around Rs25,000 crore by this fiscal.
    NCC has achieved a turnover of Rs5897 crore for the year ended March 31, 2010 as against turnover of Rs4786 crore in the previous year, registering a growth of 23%. It looks to become a US$2-billion turnover company by the next financial year.
    The company posted an EBIDTA of Rs 658.23 crore and net profit after tax of Rs282.74 crore for the year as against Rs504 crore and Rs181 crore respectively in the previous year. Seeing huge opportunities in power sector construction and execution business, NCC is looking at power generation capacity of 5,000 MW in a few years. It is expected to achieve financial closure of 1,320-MW Phase I project at Srikakulam by next month. It will take up the second phase of 1320-MW at the same location at the later stage.
    NCC was among the few companies to make early entry into BOT and BOOT projects. Moving forward, the company said it looks to increase focus on transportation and power sector. It is also looking at expanding in international markets by focusing more on roads, water supply and buildings projects. NCC employs 4,400 people directly and 35,000 piece rate workers indirectly.www.ncclimited.com

    6 IVRCL Infrastructures & Projects Ltd
    Established as a premier EPC & LSTK service provider in 1990, IVRCL Infrastructures & Projects achieved group turnover of US$1 billion in less than two decades of its operation. It has strong presence in water, transportation, building & industrial structures and power sector.
    The company entered into BOT/BOOT/DBOOT projects in 2001 and currently is executing some of the big projects across the country. With current order book standing at Rs23,375 crore, the Hyderabad-based IVRCL expects the figure to reach Rs32,000 crore in FY11, thanks to rise in government orders. In addition to its current order book, it has bided for close to about Rs19,000 crore worth of work which it expects to open soon.
    IVRCL had recently won Rs3,100-crore BOT toll road projects on the Goa-Maharashtra border from NHAI. The 122.06-km stretch will be taken up for four-and six-lane work on the NH 17 from Maharashtra-Goa border to Panaji-Goa-Karnataka. The project includes a six-lane cable-stay bridge over the Zuari river.
    The company has achieved a consolidated turnover of Rs5841.42 crore against Rs5074.07 crore, recording a growth of 15.12%. IVRCL is bullish about its revenue in current financial year to reach Rs7,000 crore, up from around Rs5,500 crore this year.
    The company sees huge potential in the water sector as almost all the states in India are water starved or water stressed. IVRCL has been maintaining about 45% to 55% top-line and close to about 60% bottom-line in the water sector. Moving forward, the company expects states like Rajasthan, Madhya Pradesh, Karnataka, Maharashtra and Gujarat to spend about US$4-5 billion each to meet water need, not only for drinking water but also irrigation. 
    www.ivrcl.com

    7 Simplex Infrastructures Ltd
    Present in business since 1924, Simplex Infrastructures is one of the largest pure play civil construction & engineering contractors in India. It has strong presence across various construction verticals, which include industrial plants, power plants – thermal; nuclear; hydel; urban infrastructures & utilities, buildings and housing, marine, roads; railways; bridges & elevated road & rail corridors.
    The company's order book at the yearend was 14% higher at Rs11,491 crore against Rs10,059 crore last year, comprising power (27%); building & housing (22%); industrial plants (19%); urban infra (16%); bridges (9%); marine & piling (3% each) and roads & railways(2%). The company said there was further order inflow of Rs1289 crore during the first two months of the current year. The company has given a guidance of top-line growth of 15-20% during the current year FY11.
    During Q4 FY10, the company secured Rs2,166 crore new orders, nearly double of Rs1,116 crore for the same quarter last year. This includes Rs1501 crore from domestic markets (69%) and Rs665 crore from overseas markets (31%). The order intake comprises of Industrial Construction Rs908 crore, Power Rs512 crore, Building & Housing Rs499 crore, Urban Infra Rs178 crore and Piling Rs69 crore. The order intake during the whole of FY10 stands at Rs5,984 crore against Rs5,629 crore last year.
    The company has created strong presence in almost all Middle East countries, West Indies, Sri Lanka as well as in Russia.
    www.simplexinfrastructures.com

    8 GMR Group
    When GMR opened the T3 at Indira Gandhi International Airport in New Delhi recently, it was more than the opening of a terminal. It was a statement that airport infrastructure in India had attained a new level. Although the revenues for the Group have gone up a modest 14% and the net profit has declined, the Ebidta went up 27%, cash profit by 14% and free cash flow by 27.5%, signifying the efficient and profitable operations of the business.
    Commenting on the performance of the full year, GM Rao, Group Chairman said: "We are continuing our focus on business building and institution building at the same time and achieved significant progress on both fronts.
     We made a strong start to the year as we acquired key power plants, thereby adding 1970 MW to our portfolio. We commenced operations in the newly constructed domestic terminal T1D of Delhi International Airport. We won three highway projects spread across three states. The 235 MW barge mounted power plant was successfully relocated from Mangalore to Kakinada.
    We successfully completed the construction of the brand new Delhi Terminal 3 and it will stand tall as an infrastructure icon and modern gateway of India for our country to be truly proud of.
     We launched some important institution building initiatives and strengthened several others across the company with special focus on all our stakeholders – shareholders, lenders, customers, government, employees, partners, environment and society. We launched Business Excellence program, Knowledge Management initiatives took speed, initiated Enterprise Risk Management framework, launched powerful development programs on leadership for senior executives and made significant progress in performance management and talent review. The year gone by has been satisfying on all fronts as we created a robust platform of sustainable long-term growth for our company. With 3 airports, 13 power plants, 9 highways, and 22 locations of our CSR activities we have positioned ourselves as a responsible corporate citizen and as a strong, infrastructure developer known for world-class quality delivered on time."www.gmrgroup.in

    9 Gammon India
    The last financial year wasn't exactly a memorable one for Gammon India; the DMRC accidents definitely did not help. But it would be wrong to judge the company purely on these two issues.
    There are many reasons why this company makes to the top ten list – one of the reasons being the fact that it is the only Indian Construction Company to have been accredited with ISO 9001 certification for all fields of civil engineering works including design. Another reason is the wide range of complex projects that the firm is handling across geographies with an order book standing of Rs14745 crore on the year ending March 31, 2010. This is substantially better (14%) compared to Rs12900 crore as end of FY09. The order book has a good mix of transportation, energy & transmission and water.
    Gammon India's operational income stood at Rs 4488.94 crore with the operating profit at Rs 418.19 crore. One highlight of the financial year gone by has been the acquisition of 69.41% stake in Ansaldo Caldaie Boilers India Pvt Ltd (ACBIPL). ACBIPL is engaged in the business of designing, procuring, manufacturing, erecting of steam generation units.
    Some of the key ongoing projects undertaken by Gammon India include a huge order from Iskcon, another Rs 631.81 crore order from Delhi Tourism and Transportation Development Corporation for construction of bridge and its approaches over river Yamuna at Wazirabad (Delhi), a contract aggregating Rs 308 crore from Jindal Power for civil works amongst others. Gammon India’s Italy-based wholly-owned subsidiary SAE Powerlines bagged $22.5 million worth of turnkey contract in Algeria for a 220 KV transmission line along with another power transmission project worth $31 million in Tanzania. Franco Tosi Meccanica SPA Italy, another subsidiary of Gammon India, secured Rs510 crore worth of order for the supply of hydro turbines.www.gammonindia.com

    10 Hindustan Construction Company (HCC)
    Even we were surprised to see Hindustan Construction Company at Number 10 - nothing to take away from the other companies at the top. One is further surprised to see that Mr Gulabchand has described the last one year as a 'slow year' in the annual report. Of course, he has added that the year 'allowed the company to focus on 'nuts and bolts' and prepare for more aggressive multi-pronged growth'.
    Nevertheless, one cannot overlook the various happenings at the Group in this 'slow year'. The Bandra-Worli Sea link was opened in June 2009 and then the company raised Rs480 crore through QIP in July 2009. While developing and implementing an excellent IT system for its own projects and for others, HCC also launched Asia's first IT Company for the infrastructure sector.
    It made its first international acquisition with Karl Steiner AG. HCC also made considerable progress at Lavasa; the project has now been expanded to 18000 acres as against the earlier plans of 12500 acres. HCC Real Estate too has shown great promise with 247Park. The company also signed contracts for several projects. There has been a sizeable growth in the company’s order book, which stood at Rs18810 crore as on March 31, 2010. HCC’s income from operations increased by 10% to Rs3863crore in 2009-10 with Ebidta increasing by 3% to Rs443 crore. 
    www.hccindia.com
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    Item Reviewed: INDIA'S TOP 10 INFRASTRUCTURE COMPANIES Rating: 5 Reviewed By: aj abhilash
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