Era Infra Engineering Ltd, an integrated infrastructure development company with a pan India presence, has announced its financial results for the quarter ended September 30, 2008. For the quarter ended September 30, 2008, the company recorded revenues of Rs4.18bn, an increase of 63.38% from Rs2.56bn in the corresponding quarter last fiscal. EBIDTA stood at Rs967mn, an increase of 67.88% as compared to Rs576mn in Q2 FY08. Net profit stood at Rs356.7mn, up by 44.29% from Rs247.2mn. The operating margins increased to 23.08% from 22.46% in the corresponding quarter last fiscal.

For the half year ended September 2008, Era Infra Engineering’s revenue was at Rs8.09bn, up 60.59% from Rs5.04bn during the corresponding period last year. The EBIDTA for the half year stood at Rs1.86bn, registering an increase of 47.45% from Rs1.26bn. The company reported a net profit of Rs640.6mn, up 12.46% as against Rs569.6mn in the same period of last year. The operating margins increased to 22.98% from 25.03% in the corresponding quarter last fiscal.

Commenting on the company’s performance, H. S. Bharana, Chairman & Managing Director, Era Infra Engineering Ltd. said, “We are pleased to report an operationally good second quarter especially in the difficult economic scenario. Our robust economic growth is the result of continuous order flow, foray into new sectors and strict adherence to timelines. With the growing trust and new orders in pipeline we are looking at a consistent, healthy growth throughout this financial year’.

Highlights of the quarter:

During the quarter the Construction & Contracts division of Era Infra Engineering Limited received the following contracts:
Rs2.08bn from Naya Raipur Development Authority (NRDA) for construction of Head of Department Building in Chhattisgarh
Rs1.29bn from AAI for the construction of a new expandable modular integrated terminal building at the Raipur Airport. Era Infra has been engaged with the Pune airport project as well which is on the verge of completion.
Rs1.11bn from CPWD for Up-gradation, renovation and new construction for Commonwealth Games-2010 in J N Stadium Sports Complex, New Delhi
Rs955mn from BHEL for civil, structural & architectural work at 1 x 500 MW Thermal Power Station in Gujarat
Rs792mn for Commonwealth Games 2010 from CPWD for the construction of Wrestling Stadium at Indira Gandhi Stadium Complex, New Delhi
Rs707.5mn from CPWD for up-gradation, renovation and new construction for Commonwealth Games 2010 in Dr. Karni Singh Shooting Range, Tuglakabad
Rs585.2mn for Main Power Block from BHEL for civil, structural & architectural work at 1 x 350 MW Cycle Power Plant at Hazira, Gujarat
Rs525.5mn from CPWD for up-gradation of Institute of Medical Sciences at Banaras Hindu University under PMSSY
Rs423.5mn for construction from DSIIDC for construction of Industrial Worker Housing with Cost Effective technologies at Narela
Rs351.7mn from CPWD for construction of additional general pool office accommodation at Kavadiguda, Secunderabad
Rs309.8mn from NATRIP for construction of buildings and associated works at Manesar

source: Indiainfoline

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