Chennai-based diversified infrastructure company Marg Ltd has lined up projects worth Rs 2,760 crore over the next three years. These include expansion of Karaikal port, a ship repair facility and residential and commercial projects.
Announcing the company’s results here recently, its chairman and managing director GRK Reddy said Marg had set up a port at Karaikal under the infrastructure vertical and would invest Rs 1,500 crore in Phase II expansion. The project upon completion would increase the port's capacity to 21 million tonnes from the current five million tonnes by next year.
The ship repair facility near here will involve an investment of around Rs 400 crore. Reddy said the marine infrastructure business contributed 20 per cent to the overall revenues and this would be increased to 30 per cent.
Over the next two years, the company was planning to develop 3,000 houses with a total outlay of Rs 650 crore. Of this, 60-70 per cent will be in the affordable segment.
Oscar Braganza, executive director - real estate and industrial clusters, Marg Ltd, said they had acquired 7.3 acre of land at Karapakkam on the outskirts of Chennai, where the company was developing a commercial project with an outlay of Rs 710 crore. The project includes a shopping mall, 252-room hotel, service apartments, office space and a theatre. The project will be completed by 2012, he added.
Power plant
Reddy said the company was also planning to set up a 200-mega watt power plant. The Rs 800-crore project would come up near its integrated township project Marg Swarnabhoomi. “Our township project itself would require 100 mega watt. We have started looking for land and are doing other due diligence”, said Reddy.
Meanwhile, the company has engaged a private consultant for business restructuring to improve productivity, operational efficiency and for better use of existing resources.
It reported a net profit of Rs 11.4 crore during the quarter ended June 30, 2010, an increase of 2.7 per cent compared with same period last year. Income from operations rose 42.5 per cent to Rs 174.8 crore from Rs 122.7 crore.