Quarterly Results

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30th SEPTEMBER, 2009

(Rs. in Lakhs)

Sl.No.	Particulars	Quarter Ended		Half Year Ended		Year Ended (Audited)
Sl.No.	Particulars	30.09.09	30.09.08	30.09.09	30.09.08	31.03.09
1.	Net Income from Operations	106655.68	104593.70	206695.00	200202.20	411993.73
	Other Operating Income	47.62	988.30	111.60	2473.70	3147.07
	Total Income	106703.30	105582.00	206806.60	202675.90	415140.80
2.	Expenditure
	a) (Inc.)/Dec. in Stock-in-Trade and work in progress	(605.40)	(3541.20)	2008.00	(10552.80)	(13782.50)
	b) Consumption of Raw materials	38162.60	37360.80	66097.20	73439.10	144203.60
	c) Sub-contractor work bills	28900.20	33236.80	60766.40	65294.40	140276.90
	d) Other construction Expenses	10668.98	10497.10	22376.00	20406.40	39793.80
	e) Labour	11582.20	9361.10	20670.20	18969.90	39227.50
	f) Employee Cost	4531.70	5185.50	9073.00	10192.70	18859.40
	g) Depreciation	1290.00	1494.20	2559.80	2913.20	5330.20
	h) Other Expenditure	2577.20	2634.00	4550.90	4921.30	9195.00
	Total	97107.40	96228.30	188101.50	185584.20	383103.90
3.	Profit from operations before Other Income. interest & Exceptional Items (1-2)	9595.90	9353.70	18705.10	17091.70	32036.90
4.	Other Income	83.70	99.50	221.10	184.80	416.30
5.	Profit before Interest & Exceptional Items (3+4)	9679.60	9453.20	18926.20	17276.50	32453.20
6.	Interest & Finance Cost (Net)	3223.40	2746.00	6685.90	5131.30	9635.90
7.	Profit after Interest but before Exceptional Items (5-6)	6456.20	6707.20	12240.30	12145.20	22817.30
8.	Exceptional Items	-	-	-	-	-
9.	Profit from ordinary Activities before tax (7 + 8)	6456.20	6707.20	12240.30	12145.20	22817.30
10.	Tax Expenses	2063.80	2477.00	4206.90	4206.90	7431.40
11.	Net Profit from Ordinary Activities after tax (9-10)	4392.40	4230.20	8214.00	7938.30	15385.90
12.	Extraordinary items (Net of tax expense)	-	-	-	-	-
13.	Net Profit for the Period	4392.40	4230.20	8214.00	7938.30	15385.90
14.	Paid up equity share capital (Face Value Rs. 2/- per Share)	5131.68	4576.93	5131.68	4576.93	4577.02
15.	Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year					163978.10
16.	Earnings per Share (EPS) (Rs.) Basic and Diluted	1.85	1.85	3.52	3.47	6.72
17.	a) Debt Service Covarage Ratio	-	-	3.90	-	2.49
	b) Interest Covarage Ratio			2.82	-	3.15
18.	Public Shareholding
	a) Number of Shares	203913023	175639157	203913023	175639157	172918783
	b) Percentage of shareholding	79.47%	76.75%	79.47%	76.75%	75.56%
19.	Promoters and Promoter group Shareholding
	a) Pledged / Encombered - No. of Shares	4995000	-	4995000	-	24900000
	Percentage of shares (as a % of the total share holding of promotor and promotor group)	9.49%	-	9.49%	-	44.63%
	Percentage of shareholding (as a % of the total share capital of the company)	1.95%	-	1.95%	-	10.88%
20.	b) Non / Encombered - No. of Shares	47611687	-	47611687	-	30888227
	Percentage of shares (as a % of the total share holding of promotor and promotor group)	90.51%	-	90.51%	-	55.37%
	Percentage of shares (as a % of the total share capital of the company)	18.56%	-	18.56%	-	13.50%

Notes:

The above results have been reviewed by the Audit Committee and approved at the meeting of the Board of Directors held on 31st October, 2009.
The Company's operations consist of Construction / Project activities and there are no other reportable segments under Accounting Standard 17.
The Statutory Auditors have carried out limited review of the Un-audited financial results for the quarter and half year ended 30th September 2009.
The Company has raised an amount of Rs. 36735 Lakhs by issuing 27732900 Equity shares of Rs. 2/- each at a premium of Rs. 130.46 per share to Qualified Institutional Buyers (QIB's) on QIP basis. The shares were allotted on 03.09.2009. The amount raised has been utilised for repayment of short term loans, investment in SPV's and woking capital.
The Company has raised an amount of Rs. 10000 Lakhs by way of secured Non-convertible Debentures during the Half year ended 30.09.2009, the amount has been utilised for working capital and repayment of loans.
The Company has entered into an agreement for sale of shares held by it in Gautami Power Limited for a consideration of Rs. 11263.50 Lakhs. As per the terms of agreement the transfer of shares will take place in December '09, accordingly profit on sale of investment of Rs. 5006 Lakhs has not been recognised in the above results.
There were no investors' complaints pending at the beginning and at the close of the Quarter. The company has received and resolved 31 investor's complaints during the quarter ended 30th September, 2009.
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 : 31.10.2009

MANAGING DIRECTOR