A captive EPC order and a healthy revenue from infrastructure and residential projects have contributed to a 15 per cent jump in profit after tax for Marg Ltd during the third quarter in the current year as compared with the corresponding quarter in the previous year.
The net profit for the quarter ended December 31, 2011, was Rs 18.40 crore (Rs 15.90 crore). Revenue has jumped 52 per cent to Rs 483 crore (Rs 317 crore).
Marg Swarnabhoomi, the company's SEZ and township project, Marg ProperTies, the residential sales business, and Karaikal Port, the infrastructure business, will be major drivers of growth, said a company press release.
The company EPC order book stands at Rs 3,250 crore with external orders accounting for about 35 per cent.
EPC revenue during the quarter was Rs 465 crore (Rs 300 crore), a jump of about 55 per cent.
In Marg Swarnabhoomi, over 245 residential units have been sold taking the total sales to 1,687 units. A high-rise residential project ‘Four Seasons' was launched during the quarter.
Marg ProperTies sold 98 units and is set to launch a new project during the fourth quarter with a total sales value of Rs 73 crore.
Karaikal Port, the company's flagship project, handled 1.45 million tonnes of cargo during the third quarter with estimated revenue of Rs 57.9 crore. It has achieved financial closure for Phase 2A extension for Rs 437 crore with four banks. This capacity expansion will add 7 million tonnes a year cargo capacity taking it to 27 million tonnes.
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