Quarterly Results

AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED
31st MARCH 2007

(Rs. in Crores)

Sl.No.	Particulars	9 months ended 31-12-06 Unaudited	Quarter ended 31-03-07	Quarter ended 31-03-06	Year Ended 31-03-07	Year Ended 31-03-06	Consoli-dated for the year ended 31-03-07	Consoli-dated for the year ended 31-03-06
1.	Income from Operations	2003.17	867.88	640.45	2871.05	1840.44	2948.55	1840.44
2.	Other Income	2.22	26.96	0.54	29.18	2.03	3.46	2.03
3.	Total Income	2005.39	894.84	640.99	2900.23	1842.47	2952.01	1842.47

4.	Total Expenditure	1806.16	795.14	587.29	2601.30	1676.38	2655.79	1676.99
	a) (Increase)/Decrease in Stock-in-Trade	(57.11)	(2.49)	(34.38)	(59.60)	(120.38)	(107.12)	(120.38)
	b) Consumption of raw materials	768.11	245.91	251.73	1014.02	758.46	1053.07	758.46
	c) Other construction expenses	783.42	429.48	268.62	1212.90	764.47	1264.50	764.48
	d) Labour	207.45	82.46	71.73	289.91	177.79	290.63	177.79
	e) Staff Cost	58.48	25.89	13.09	84.37	47.34	91.04	47.34
	f) Other Expenditure	45.81	13.89	16.50	59.70	48.70	63.67	49.30

5.	Profit before Interest, Depreciation and Taxes	199.23	99.70	53.70	298.93	166.09	296.22	165.48
6.	Interest	33.80	16.59	4.38	50.39	21.70	57.89	21.76
7.	Depreciation	20.30	9.60	5.36	29.90	18.16	38.08	18.16
8.	Profit before tax (5-6-7)	145.13	73.51	43.96	218.64	126.23	200.25	125.56
9.	Provision for Taxation	43.15	23.58	9.01	66.73	22.33	67.53	22.34
10.	Profit before prior year's tax	101.98	49.93	34.95	151.91	103.90	132.72	103.22
11.	Less : Prior year's tax		36.25		36.25		36.25
12.	Net Profit after prior year's tax	101.98	13.68	34.95	115.66	103.90	96.47	103.22
13.	Add:Appropriated towards prior year's tax from opening balance of Profit & Loss A/c		36.25		36.25		36.25
14.	Net Surplus after Tax	101.98	49.93	34.95	151.91	103.90	132.72	103.22
15.	Less: Minority Interest						0.01	(0.14)
16.	Share of Profit/(Loss) from Associate Cos. (Net of tax)						(0.15)	0.00
17.	Profit on Consolidation	101.98	49.93	34.95	151.91	103.90	132.56	103.36
18.	Paid up Eq. Share Capital (Face value Rs.2 per Share)	41.35	41.70	20.66	41.70	26.66	54.63	20.66
19.	Reserves excluding revaluation Reserves (As per Balance Sheet)				999.73	921.23	1032.85	920.68
20.	Basic EPS... Before prior year's Tax	5.93	2.41	1.70	7.35	6.04	6.42	6.01
20.	... After prior years's Tax	5.93	(0.34)		5.59		4.67
21.	Diluted EPS... Before prior year's Tax	5.88	2.37	1.68	7.29	5.96	6.37	5.93
21.	... After prior years's Tax	5.88	(0.33)		5.55		4.63
22.	Aggregate of Public shareholding
	a) No.of shares (of face value Rs.2 each)	144651113	152508018	76815459	152508018	76815459	152508018	76815459
	b) Percentage of shareholding	69.97%	73.14%	74.35%	73.14%	74.35%	73.14%	74.35%

Notes:

The Company has paid 40% interim Dividend. The Board of Directors has further recommended 20% as final Equity Dividend for the year 2006-07.
The Company's operations consist of Construction / Project activities and there are no reportable segments under Accounting Standards 17.
Figures have been regrouped to facilitate comparison wherever necessary.
Effective 1st April 2006, the Company has adopted the revised Accounting Standards - 15 (AS-15), Employee Benefits issued by Institute of Chartered Accountants of India. Pursuant to this, the net additional opening liability as on 1st April 2006, aggregating to Rs. 2.87 Crores (Net of tax expense) in respect of various employee benefits has been adjusted against the opening balance of General Reserve.
Pursuant to issue of Bonus Shares in the ratio of 1:1 on 23.09.06 the paid-up Capital of the Company stands increased to Rs.41.35 Crores. Accordingly, the Earning Per Share (EPS) for the previous periods has been recomputed in accordance with the Accounting Standard AS-20.
The above results were reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on 28.05.07.
The consolidated Financial Results include results of all the Subsidiaries and Associates of Nagarjuna Construction Company Limited and are prepared in accordance with AS-21, AS-23 AS-27.
Consequent to the insertion of an "Explanation" in Section 80 IA of the Income Tax Act, 1961, by the Finance Act, 2007 with retrospective effect from A.Y 2000-01, the company has reviewed its claim for benefit under section 80 IA. As a measure of prudence, the company made full provision for all such benefits claimed. The results for the period ended 31st March 2007 includes an additional charge of Rs.62.24 crores of which Rs.36.25 crores relate to earlier years. Accordingly, an amount of Rs.36.25 crores has been appropriated from the opening balance in the Profit & Loss Account towards prior years' tax. The additional tax for the 9 months ended 31.12.06, Rs.20.67 crores accounted during the current quarter has been included in the results for the 9 months ended 31.12.2006.
There were no investor complaints pending at the beginning and at the end of the quarter. 26 Complaints were received and resolved during the quarter ended 31.03.07.

By Order of the Board

for NAGARJUNA CONSTRUCTION COMPANY LIMITED

Sd/-

A. RANGA RAJU

Place : Hyderabad

Date : 28.05.2007

MANAGING DIRECTOR