Prajay Engineers posts net profit of 35.36 cr

Mumbai, May 4: Hyderabad-based Prajay Engineers Syndicate Ltd has posted a net profit of 264 per cent at 35.36 crores for the financial year 2006-07.

During the quarter ended March 31, 2007, the company's income was pegged at Rs 98.48 cr, up by 236.99 per cent from Rs 29.26 cr over the same period last year.

Prajay Engineers is engaged in construction activities ranging from building of malls, township, and high-end apartments to resorts and recreational facilities.

The company has earmarked Rs 450-500 cr for a diversification plan into the hotel and hospitality segment. It plans to create 1,000 rooms by 2009 in both the 5-star and the 3-star budget categories.

UNI