Simplex bags orders worth Rs 115cr

Kolkata-based civil engineering and construction company Simplex Projects has bagged piling, foundation and residential projects worth Rs 115 crore, a company press release said.

Among these projects include piling and basement work for the upcoming residential complex of West Bengal Industrial Development Corporation(WBIDC) at Rajarhat.

This project is scheduled to be completed within six months.

This apart, Simplex is executing projects for leading builders like DLF, Unitech and Ambujas.

The company is involved in the construction of a housing complex by the Unitech Group at Kona Expressway.

BK Mundhra, MD, Simplex Projects said: "Simplex Projects is among the leading piling companies in eastern India. With such high value piling contracts and most of it being completed in this financial year,we expect to surpass our target in terms of both growth in the volume and the profits."

The company is all set to make its presence felt nationally with a number of joint venture projects all over the country.

It has bagged a project for the municipal corporation in New Delhi which includes the construction of a road under bridge for the corporation.

Simplex has lined up a capex of Rs 50 crore for 2007-08 and plans to invest Rs 150-200 crore in the next couple of years on machinery and equipment, P Mishra, VP (finance) of the company told Business Standard.

Most of the equipment will be procured from the domestic suppliers while a few specialised piling machines have to be imported from Germany, he added.