Madhucon Projects Ltd is poised to commission first-phase 300 MW of the 1,920-MW Simhapuri thermal power project by the end of this year and 300 MW of phase II by August 2012. The company is making arrangements for coal supplies from its subsidiary, PT Madhucon Malaysia, after it secured in-principle clearance for jetty construction. The coal production is expected to begin in January 2012. Madhucon has also been chosen as a preferred bidder in a 300-MW power project in Indonesia. The power project, being executed through Simhapuri Energy, a company arm, is coming up at Thamminapatnam in Nellore district, close to the Krishnapatnam port. The thermal plant is under execution over three phases of 2x150, 2x150 and 2x660 MW supercritical units. The Hyderabad-based infrastructure company, which is into construction, road, power and coal mining, has eight road projects under its portfolio. It has completed four toll ways. Three road projects have started after the company achieved financial closure. It now commands an order book of Rs 6,500 crore and is prequalified for EPC contracts worth Rs 20,000 crore.
The company has recorded a net profit of Rs 6.05 crore for the second quarter ended September 30, as against Rs 6.73 crore logged for the corresponding quarter last year. The depreciation for the September quarter amounted to Rs 12.75 crore as against Rs 11.77 crore for the corresponding quarter last year. The company registered a growth of 18.31 per cent in its turnover at Rs 416.05 crore for the September quarter (Rs 351.65 crore). It's gross profit was up 83 per cent at Rs 42.21 crore as against Rs 23.02 crore.