25 Sep :Chairman IRCON and Chairman Railway Board, Shri K.C. Jena, while addressing the shareholders of IRCON, a public sector undertaking of the Ministry of Railways, on the occasion of its 32nd Annual General Meeting held recently in New Delhi informed that IRCON has set a landmark of crossing Rs. 2000 crore in turnover and achieved a profit before tax of Rs. 160.5 crore during 2007-08.
IRCON’s dividend declaration for the year 2007-08 including interim dividend amounts to Rs. 29.69 crore (its highest ever) @ 300 per cent of the paid-up share capital, which is 26.09 per cent of its post tax profits.
Chairman described IRCON as one of the flagship companies of Ministry of Railways for executing nation building projects, despite hardships, in difficult areas not only within the Country but also in places like Afghanistan, Mozambique, Ethiopia etc. Turnkey projects being executed in J&K, which have contributed more than 25 per cent to the total turnover for 2007-08, are a testimony to this fact. IRCON is also contributing in a big way to Pradhan Mantri Gram Sadak Yojana projects in 8 districts of Bihar and Rashtriya Sam Vikas Yojana projects in five districts of Bihar by doing EPC contracts right from concept including design & consultancy to completion and delivery.
He stated that IRCON’s sincere business development efforts have resulted in securing its largest ever project of over USD one billion in Malaysia and also projects in countries like Algeria and Sri Lanka recently. With an order book position of around Rs. 108 billion and upcoming dedicated freight corridor projects in India, the future is full of opportunities for the Company.