The company has clocked a total turnover of Rs 465.52 crore and a net profit of Rs 28.17 crore for the financial year 2005-06. During the quarter ending March 2006 the total turnover of the company remained at Rs 150.96 crore and net profit at Rs 9.33 crore. The company derives 50% to 60% of its revenue from Commercial segment 14% to 15% from Residential segment and Rest from Industrial segment.

In terms of Geography the company derives 50% of its revenue from Delhi and 50% from Southern states (Karnataka, AP, Tamilnadu) and Maharashtra. The company is currently is looking for Kolkatta market to enter into Eastern part of the country. The company is also looking for and is in discussion with different parties to get suitable work-orders in SEZ space and is in talks with some foreign parties to qualify itself for biding for the Metro Railway project at Delhi. According to the company getting the quality manpower currently is putting some pressure on its growth although the order inflow remain healthy.

As of now the company gives complete solutions to each of the project it handles and takes projects, which have good revenue visibility. It also do subcontract works exclusively for furnishing as well. In the furnishing works the EBIDTA margin is 18-19%, which the management feels will slightly improve in future after the furnishing material manufacturing plant is set up by the company’s subsidiary at Badi.

From the residential property at Pune the company expects an EBITDA of Rs 400 to Rs 500 per square feet. The total square feet of that property is 2.1 lakh. Part of this project will be completed this year. During April and May 2006 the company has already executed orders of worth Rs 120 crore. The current order execution period for the various orders of the company remains in the range of 4 months to 12 months time.

The company does not see any negative impact on its revenue from the executed residential properties due to the rise in interest rates. The property developers have already sold almost 80% to 90% of the properties. Also all its other orders are covered by escalation clause so the rise in prices of the materials has its minimal impact on the profitability of the company.

Guidance

On 1^st June 2006 the company has a total order book of Rs 1000 crore spanning the area of 210 lakh square feet (as against Rs 800 crore at the time of the IPO). In this 160-lakh sq feet is from commercial segment 40 lakh sq feet from residential segment and 10 lakh sq feet from Industrial properties. During the first half of this year the total order execution of the company would be in the range of Rs 65 crore per month and during the second half the same would be in the range of Rs 120 crore per month. In this way the company sees a turnover of Rs 1000 crore during FY07. The company will try to maintain the current margin despite some rise in its staff cost.

Funds utilized till date (June’06) (Rs. in crore)