ARSS reports impressive Q1 result
Bhubaneswar-based ARSS Infrastructure Projects Limited, with interests in construction of roads, highways, bridges, irrigation projects and EPC activities for railways, has reported impressive first quarter result.
It’s PAT in the first quarter of FY 2011, stands at Rs34.05 crore as against Rs8.90 crore in the same period in the previous fiscal.
The company’s net income from operations in the first quarter of the current fiscal stands at Rs356.48 crore, an increase of 59% from Rs224.28 crore in the previous fiscal.
Sunil Agarwal, President & CEO, ARSS Infrastructure Projects Limited, said, “We are pleased to continue the same growth that we showed last year. As we spread ourselves to other parts of the country and move up the infra value chain, this growth will continue.”
In the first quarter of FY 2011, the company has bagged six prestigious projects collectively worth Rs458.75 crore. ARSS Infra received an order worth Rs114.49 crore from Rites Limited for construction of earthwork, bridges, supply of P-way material, supply of ballast and P-way linking for proposed private railway siding. It also bagged project worth Rs99.90 crore from Madhya Pradesh Road Development Corporation Ltd. in May this year.
It has secured assignments worth Rs80.32 crore and Rs71.62 crore from Greater Mohali Area Development Authority (GMADA) and SAIL, Bokaro Steel Plant respectively. ARSS Infra received another project from Northeast Frontier Railway, Guwahati worth Rs41.56 crore.
Early June this year, the company has also bagged a project worth Rs50.86 crore from Rayagada (R&B) Division, Rayagada, Odisha.