Press Release

Nagarjuna Construction Company Limited [NCCL] achieved turnover of Rs.1002.41 crores (standalone) for the 1st quarter of the current year 2009-10 as against Rs.972 crores in the corresponding quarter of the previous year. The Company has reported earnings before interest, taxes, depreciation and amortization of Rs.103.79 crores and net profit of Rs.38.22 crores as against Rs.91.57 crores and Rs.37.09 crores respectively reported in the corresponding quarter of the previous year.

The Company has posted earning per share of Rs.1.67 (not annualized) as against Rs.1.62 in the corresponding quarter of the previous year. In the current year, the Company has so far secured orders aggregating Rs.2874 crores and the order book stood at Rs.13902 crores as at the end of the quarter.

The board of directors of NCCL has also accorded approval for the sale of a 9.5% equity stake in Gautami Power to the GVK group for a total consideration of Rs.112.63 crores subject to satisfaction of the terms and conditions of the transaction. The company anticipates that the sale will result in a capital gain of approximately Rs.50 crores for Nagarjuna Construction Co Ltd.

Place:Hyderabad
Date:30-07-2009 		For Nagarjuna Construction Company Limited
sd/-
A. Ranga Raju
Managing Director
   
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED
30th JUNE, 2009
(Rs.in Lakhs)
Sl.No.
Particulars
Quarter Ended
 Year Ended (Audited)
30-06-'09 30-06-'08 31-03-'09
1 Net Income from Operations 100039.32 95608.50 411993.73
  Other Operating Income 63.98 1485.40 3147.07
  Total Income 100103.30 97093.90 415140.80
         
2. Expenditure      
  a) (Inc.) / Dec. in stock-in-trade and work in progress 2613.40 (7011.60) (13782.50)
  b) Consumption of Raw materials 27934.60 36078.30 144203.60
  c) Sub-contractors work bills 31866.20 32057.60 140276.90
  d) Other Construction Expenses 11707.10 9909.30 39793.80
  e) Labour 9088.00 9608.80 39227.50
  f) Employee Cost 4541.30 5007.20 18859.40
  g) Depreciation 1269.80 1419.00 5330.20
  h) Other Expenditure 1973.70 2287.30 9195.00
  Total 90994.10 89355.90 383103.90
         
3. Profit from operations before Other Income, Interest & Exceptional Items (1-2) 9109.20 7738.00 32036.90
4. Other Income 137.40 85.30 416.30
5. Profit before Interest & Exceptional Items (3+4) 9246.60 7823.30 32453.20
6. Interest & Finance Cost (Net) 3462.50 2385.30 9635.90
7. Profitafter after Interest but before Exceptional Items (5-6) 5784.10 5438.00 22817.30
8. Exceptional Items - - -
9. Net Profit from Ordinary Activities before tax (7+8) 5784.10 5438.00 22817.30
10. Tax Expenses 1962.50 1729.90 7431.40
11. Net Profit from Ordinary Activities after tax (9-10) 3821.60 3708.10 15385.90
12. Extraordinary items (Net of tax expense) - - -
13. Net Profit for the Period 3821.60 3708.10 15385.90
14. Paid up equity share capital (Face value Rs.2 per share) 4577.02 4576.80 4577.02
15. Reserves excluding Revaluation Reserves as per balance Sheet of previous accounting year     163978.10
16. Earnings Per Share (EPS) (Rs.)      
  Basic and Diluted 1.67 1.62 6.72
17. a) Debt Service Coverage Ratio     2.49
  b) Interest Coverage Ratio     3.15
18. Public Shareholding      
  a) Number of Shares 172903783 173810992 172918783
  b) Percentage of shareholding 75.55% 75.95% 75.56%
19. Promoters and Promoter group Shareholding      
  a) Pledged / Encumbered - No. of Shares 17420000 - 24900000
  Percentage of shares (as a % of the total share holding of promoter and promoter group) 31.23% - 44.63%
  Percentage of shareholding (as a % of the total share capital of the company) 7.61% - 10.88%
20. b) Non/encombered - No. of Shares 38368227   30888227
  Percentage of shares (as a % of the total share holding of promoter and promoter group) 68.77% - 55.37%
  Percentage of shares (as a % of the total share capital of the company) 16.77% - 13.50%


Notes:

  1. The above results have been reviewed by the Audit Committee and approved at the meeting of the Board of Directors held on 30th July, 2009.

  2. The Company's operations consist of Construction / Project activities and there are no other reportable segments under Accounting Standard 17.

  3. The Statutory Auditors have carried out limited review of the Un-audited financial results for the quarter ended 30th June 2009.

  4. There were no investors' complaints pending at the beginning and at the close of the Quarter. The company has received and resolved 11 investor's complaints during the quarter ended 30th June, 2009.

  5. Figures have been regrouped to facilitate comparison wherever necessary.
By Order of the Board
for NAGARJUNA CONSTRUCTION COMPANY LIMITED
 


                              Sd/-
Place : Hyderabad
                         A. RANGA RAJU
Date : 30.07.2009
                     MANAGING DIRECTOR