MARG Group eyes pan-India presence, to enter northern market

Posted By: Pti
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Chennai, Feb 15 (PTI) As part of establishing a pan-Indiapresence, diversifed business conglomerate MARG Group, apredominant player in various verticals in the Southern regionof the country, is making a north India foray with a slew ofprojects, a top official said today.

"We are doing projects in Delhi and doing another projectin Lucknow. Besides, we are doing in National Capital Region.

Totally, these should be (worth) around Rs 700- Rs 800 crore",MARG Ltd CEO (EPC), Industrial Project, Suresh Kumar toldreporters here.

Asked how they would expand their presence in theNorthern regions, MARG Ltd (EPC division) Executive Director,Munavar Sheriff told PTI they would establish themselves inthe areas where they have a presence. "We are doing projectsin Delhi, NCR, and in UP. That is our plan. Our vision is tohave a pan-India presence", he said.

Kumar said the company has had a presence in northIndia for more than a year, with the majority of the projectsthey are involved in being construction activities.

"We are constructing a housing board project, a hospital,a married accomodation, Defence quarters in Delhi. Similarlyin Lucknow we are diong a housing project", he said.

Sheriff said MARG Ltd, across its verticals currently hasaround Rs 3,600 crore worth projects in hand and had alsosecured an external order worth Rs 765 crore.

MARG Ltd Chairman and Managing Director, GRK Reddy,alter told reporters that they may take their Group entity,Karaikal Port Private Ltd, to the capital market by next year.

"May be in one year (it should get listed)", Reddy said.

Reddy along with senior company officials was here toannounce the third quarter results for the period endingDecember 31, 2010.

MARG Ltd today reported a 19 per cent growth on their netprofits at Rs 15.9 crore for the third quarter ending December31, 2010 as against their net profits at Rs 13.4 croreregistered over the previous quarter.

The EBITDA (Earnings Before Interests, Taxes,Depreciation and Amortisation) also grew by 17 per cent atRs 35.3 crore for the third quarter ending December 31, 2010as against Rs 30.1 crore registered during the previousquarter.

"Our results for the quarter ending December 31, 2010 arevery encouraging. Despite the challenging businessenvironment, our income has increased by a healthy 37 percent", Reddy said.

In 2009-2010 the company reported revenues of Rs 702.78crore with a Compound Annual Growth Rate (CAGR) of 82 per centgrowth during the past three years.

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