Supreme Infra to build homes for army
Supreme Infrastructure India Limited has received the work order for DGMap Project for construction of residential accommodation for army at Hisar, Haryana . The project cost is Rs. 77.74 Cr & is expected to be completed in a time span of 27 months.
Supreme is required to construct about 161 units of 6 flats each totalling to 966 flats and 7.5 lakhs sq.ft area for the project. Supreme Infra has also been executing building construction projects in north for over 280 Cr including 3 million sq.ft residential complex and judicial court complex at Kapurthala in Punjab & Gurgaon etc.
The company also announced the financial closure for its BOT project for the 4 Laning of Manor Wada Bhiwandi Road in Thane. The concession agreement for this project was signed earlier in February this year. The project has been awarded to the company by PWD Maharashtra is about Rs. 430 Cr. Supreme Manor Wada Bhiwandi Infrastructure Private Limited, the subsidiary of Supreme Infrastructure India Ltd (SIIL) has already infused equity to the tune of Rs. 56 Cr as on date.
Commenting on the occasion, Vikas Sharma, Director, Supreme Infrastructure India Ltd said "With the robust figures reported this quarter we are moving ahead as per our calculations. The on-going projects are in sync with the timelines making it easy & credible for us to bag more contracts. We are extremely positive about the new DGMap project & plan to bag more of the similar ones reporting a strong order book in the next quarter."
Issue of Shares on Preferential basis
– Supreme Infrastructure India Limited announced the allotment of 8,66,275 shares to Supreme Construction & Developers Pvt. Ltd. & Pivotal Securities Pvt. Ltd. Through a notification to BSE on 21st June.
– Among the allotees Supreme Construction & Developers Pvt. Ltd. would be allotted 416275 shares and 450000 shares would be allotted to Pivotal securities Pvt. Ltd. The equity raised from the allotment is expected to bring approximately Rs. 20 Cr to the company which will be used towards expansion & growth in the BOT segments.
Some of its ongoing projects include:
• Construction of low cost housing projects for MMRDA
• Construction of IT Park in Powai
• Construction of Kapurthala Judicial Court Complex at Punjab
• Construction of 4-Laning of Road along Sidhwan Canal at Punjab.