JP Associates Records 72.52% Growth In Total Income

JP Associates Records 72.52% Growth In Total IncomeJaiprakash Associates Limited (JAL) has declared a net profit for fiscal ended March 2010 due to higher revenue, whereas its total income grew by 72.52%.

The company's board announced a final dividend of Rs 0.54 per equity share of Rs 2 each for the financial year ended March 10 plus the interim Dividend of Re 0.54 per equity share of Rs 2 each paid in November 2010.

During the year ended March 2010, JAL recorded total revenues of Rs 10316.04 crore as against Rs 5979.52 crore in March 2009.

While the EBIDTA remained up by up 40.36% to Rs 2891.44 crore, the net profit (after extraordinary items) for FY10 surged 90.45% to Rs 1708.36 crore.

EBIDTA margins for the last fiscal stood at 28.66% and net profit margins remained at 16.93%.

On per - share basis, earnings (after extraordinary items) for the financial year were Rs 8.08, up 87.47% from the Rs 4.31 in the previous year.

While commenting on the performance of the group in last fiscal, Mr. Manoj Gaur, Executive Chairman, JAL, stated, "We are extremely delighted to announce that our company for the very first time has crossed Rs 10,000 crore as its turnover and with the overall performance of all the businesses of the group, the roadmap that we have laid at the start of the fiscal has helped us achieve an all round growth across all sectors."

"The performance in our real estate business is evident from the fact that in Jaypee Infratech Limited (JIL) we have been able to sell over 1.5-million sq. ft. of developed real estate between April - May, 2010 in our integrated township at Noida. In the last fiscal, JIL has sold over 13,000 units comprising of 20.35 mn. sq. ft area at an average rate of Rs 3000/- per sq. ft. (approx.). Additionally, JAL has also sold premium real estate at its Noida and Greater Noida projects of approximately 1.4 mn. sq. ft at an average rate of Rs. 5500 per sq. ft. (approx.) in FY10," Mr. Gaur said.

In cement business, Jaypee Group has an installed capacity of 21.3 MnTPA and also plans to boost the overall capacity to more than 33.00 MnTPA by the next two years (2012).

In power business, presently the company has 700 MW (Hydropower) in operation and by 2011; the total hydropower capacity will be 1700 MW with the commissioning of 1,000 MW Karcham-Wangtoo project in Himachal Pradesh.

JAL also said that it plans to take its overall capacity to more than 13,000 MW by 2019 with 60:40 thermal-hydro mix. (With Inputs from Agencies)