NTPC-BHEL Power Projects Ltd (NBPPL) on Saturday said it had recorded a turnover of Rs 115 crore in the current financial year (2010-11).
During the same period, the entity raked in a profit of Rs 10 crore. NBPPL, a joint venture between NTPC and BHEL, was set up in 2008 to carry out engineering, procurement and construction (EPC) contracts for power projects apart from manufacturing and supplying of equipment in India and overseas.
“For the year ended 2010-11, the company has achieved a record turnover of Rs 115 crore, against the target of Rs 90 crore, thus crossing turnover of Rs 100 crore in the very first year of its commercial operation,” the company said in a statement.
Profit before tax stood at Rs 10 crore in the last financial year, compared with the memorandum of understanding (MoU) target of Rs 4 crore. The MoU for the targets was signed by the company with NTPC & BHEL.
NBPPL's power equipment manufacturing facility at Mannavaram in Andhra Pradesh is expected to start production in 15 months, it said. The firm would set up the facility for coal and ash handling plants by 2012-13. “The company is expecting orders for 1x500 Mw Unchahar TPS from NTPC and 1x100 Mw gas-based Combined Cycle Power Project from NEEPCO,” the company said.