HSIIDC records 186 per cent growth in net profit

Chandigarh, July 11 (UNI) Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has registered a quantum jump of 186 per cent in its net profit after tax and dividend during the 2006-07 fiscal.

Mr M L Tayal, Principal Secretary to the Chief Minister and the HSIIDC Chairman, said after a meeting of the board of directors here today the Corporation had maintained a consistent record by earning a gross profit of Rs 40.89 crore this year, against the earlier record of Rs 29.43 crore last year.

The gross income during the year has also exceeded the target and touched a figure of Rs 57.05 crore as compared to Rs 44.80 crore during the previous financial year, he said.

Commensurating this impressive performance, the Corporation has declared an all-time high dividend of five crore rupees to the State Government.

The term loan activity of the corporation also achieved a significant growth during this year. The corporation sanctioned term loans to the tune of Rs 100.52 crore this year. The disbursement and recovery stood at Rs 45.71 crore and Rs 84.33 crore respectively during this period.

Mr Rajeev Arora, Managing Director of the corporation informed that HSIIDC has drawn an ambitious plan for setting up new industrial estates and infrastructure projects for which a land of about 17,000 acres is being created.

The investment outlay on providing infrastructure for these projects would come to Rs 12,000 crore. Prominent amongst these projects are, KMP Expressway, Industrial Model Townships at Rohtak, Faridabad and Jagadhari and expansion of IMT Manesar, Bawal, Barhi, Rai, Karnal and Saha industrial estates.

In addition to this, dedicated theme parks were being developed which include, Food Parks at Rai and Saha, Apparel park at Barhi, Footwear park at Bahadurgarh, Textile Cluster at Panipat, Auto Parts Cluster at Gurgaon, Light Engineering Goods at Faridabad, Agricultural Implements at Karnal and Technology Parks under campus development norms at Rai and Manesar, he said.

UNI