SAAG RR Infra posts 103 pc growth in turnover for FY'06

Mumbai, May 25 (UNI) SAAG RR Infra Limited, a subsidiary of SAAG Consolidated (M) BHD (Malaysia), registered growth of Rs 32.24 crore in turnover for the financial year ending March 2006, an increase of 103 per cent over the last financial year.

Announcing the results, the company's profits grew by 363 per cent from Rs 58.99 lakh in 2004-05 to Rs 132.30 lakh in 2005-06. SAAG RR also achieved record-high revenue and operating income in the same fiscal.

The company's Managing Director R Sriram said, ''This year, the country has witnessed growth in the infrastructure sector and this has reflected in the results of the company, in terms of business and profits. We are quite aggressive in bidding for new projects and have over the past three months bid for almost Rs 65 crore worth of projects.'' Earlier this year, the company had signed a technology transfer agreement with SAAG Drilling and Well Services Sdn Bhd for the engineering, construction and deployment of advanced Modular Electric Work Over Rig. The agreement was the first step for SAAG RR towards entering the Oil&Gas sector in India and Middle East.

UNI SN MJ VKG1655