Simplex Infrastructures Q1 net dips to 10.34%

New Delhi, July 31 (UNI) Simplex Infrastructures today posted a decline of 10.34 per cent in its net profit at Rs 10.4 crore in Q1 FY07, as against Rs 11.6 crore during the same period last year.

However, the sales saw an increase of 13 per cent at Rs 352 crore in Q1 FY 07 from Rs 311 crore in Q1 FY06.

On the future outlook of the company, Simplex Infrastructures CMD B D Mundhra said the company targets a turnover of Rs 5,000 crore in the next 4-5 years and also aims to grow its order book, not just in terms of quantity but also quality, which currently stands at Rs 4,590 crore.

The turnover for Q1 2006-07 stood at Rs 352 crore, up by 13 per cent.

''In preparation for the strong growth ahead, the company has made substantial investments in manpower and equipment. Also, we have diversified into the varied profitable infrastructure segments such as Airports, Railways and Urban Infrastructure for aggressive growth,'' Mr Mundhra said.

Simplex is also eyeing real estate sector since strong infrastructure opportunities are emerging in this space. The company is bullish about overseas markets and is targeting 40 per cent of the turnover from project exports, the CMD said.

The company has presence in diverse infrastructure sectors and is planning to bid for BOT/Annuity projects in roads and highways, power transmission, ports, hydro, railways and water supply.

Simplex infrastructures is also targeting turnkey, EPC, O&M projects in metal, cement, oil and gas pipelines.

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