Our Bureau

Kolkata , Feb. 3

SIMPLEX Concrete Piles (India) Ltd, one of the largest infrastructure solution providers, is now looking at BOT (build, operate and transfer) projects.

Already, it has bid for a few such projects, including those on offer from the National Highways Authority of India.

This new line of business activity may result in the company tapping the market for fresh capital.

"As of now, we are not considering any public issue. However, we are open to such possibilities," the company's Chairman and Managing Director, Mr Bithaldas Mundhra, told reporters here.

With piling now forming just 14 per cent of the business, the company is contemplating a change in name. "Piling is no longer our main business activity. However, there is a lot of sentiment involved with our current identity and we are still debating the issue."

Simplex expects to register a turnover of Rs 900 crore this year against Rs 641 crore during 2003-04. The company earns most of its revenue from the civil and structural business in the power, marine and logistics sectors.

The company has registered Rs 9.73 crore profit during the third quarter this fiscal against Rs 2.23 crore in the same period the previous year.

Overall, Simplex has posted a profit of Rs 12.35 crore during the nine-month period against Rs 5.13 crore during the same period last year and Rs 9.7 crore in the whole of 2003-04. Turnover has grown from Rs 455 crore to Rs 673 crore during the nine-month period.

Stating that the current trend of 30 per cent growth could be maintained in the foreseeable future, Mr Mundhra said the company had built up a strong order book during the last quarter. Apart from the domestic market, the company has bagged orders worth Rs 600 crore from West Asia and North African countries.

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