MARG zooms on plans to kick start PURA pilot project at Karaikal district

10 Aug 2011

MARG is currently trading at Rs. 82.60, up by 3.10 points or 3.90% from its previous closing of Rs. 79.50 on the BSE.

The scrip opened at Rs. 85.90 and has touched a high and low of Rs. 85.95 and Rs. 82.00 respectively. So far 4953 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 243.80 on 08-Sep-2010 and a 52 week low of Rs. 77.05 on 09-Aug-2011.

Last one week high and low of the scrip stood at Rs. 90.40 and Rs. 77.05 respectively. The current market cap of the company is Rs. 303.05 crore.

The promoters holding in the company stood at 54.40% while Institutions and Non-Institutions held 9.14% and 36.46% respectively. 

MARG, one of India’s fastest growing integrated infrastructure companies has decided to start India’s first ever PURA pilot project at Karaikal district in the Union Territory (UT) of Puducherry. The company had bagged the PURA Pilot Project in Karaikal, Puducherry UT through competitive bidding under the PPP framework of Ministry of Rural Development (MoRD), Government of India. 

PURA (an acronym for Provision of Urban Amenities in Rural Areas) is a flagship program of the Ministry of Rural Development (MoRD), Government of India. It was envisaged by former President APJ Abdul Kalam as a sustainable and viable model for the delivery of basic urban services and facilities in rural areas to be managed through an implementation framework forged between local people, public authorities and the private sector. The scheme was re-configured after extensive consultation and research with state governments, private sector and multi-lateral development organizations. 

MARG has been mandated to develop multi-dimensional projects and social inclusion programmes which will generate livelihood opportunities and provide basic amenities across 8 village panchayats with an estimated population of 31,000 spread across 29.3 sq km of Karaikal District, Puducherry Union Territory. The total project cost is estimated at Rs 930 million.

The benefits to Karaikal district will be in the form of skill development for over 4,000 individuals who can be employed in nearby industries. Income boosting initiatives which will have a multiplier effect resulting in doubling the per capita income and ultimately a higher quality of life to all households in the targeted villages. Further MARG would be focusing on the amenities suggested by MoRD like sanitation facilities, village streets, water supply system, rainwater harvesting, local community empowerment, capacity building, watershed projects, agricultural focused activities and non-conventional energy solutions. 

Kancheepuram district (Tamil Nadu) encompassing a cluster of 11 villages covering an area of 123 sq.km at an estimated cost of Rs 100 crores. The investments made over a 10 year period are estimated to have a positive impact on the household income in the region. The household/ family income is expected to go up from Rs 1,36,000 per annum to Rs 4,50,000 per annum over the next decade.

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