Consolidated Net Profit Rs. 7.17 crores
Hyderabad, September 15, 2017 : GOCL Corporation Limited, a Hinduja Group Company, has reported a Consolidated Gross Income of Rs. 145 crores ( previous year Rs. 165 crores ) for the year Q1 of 2018 and consolidated net profit of Rs. 7.17 crores. ( Rs. 7.63 crores ).
On a standalone basis, GOCL turnover was Rs. 26.72 crores with a net profit of Rs. 4.03 crores.
There was a marginal decline in turnover due to lower prices although volumes increased over Q1 of the previous year.
Division wise performance and highlights are as under:
ENERGETICS AND EXPLOSIVES
During Q1 of the current financial year there was a decline in domestic trade detonator volumes but export detonator volumes surged with respect to Q1 last year. The detonating cord volumes grew by 30% whilst demand for boosters grew by 150% and packaged explosives by 15%. Requirement for electronic detonators was also high during Q1 this year as against Q1 of previous year. The Company has taken up projects for upgrading the technology of non-electric detonators to meet requirement from opencast mines and quarries as well as exports.
The wholly owned subsidiary, IDL Explosives Limited ( IDLEL ) achieved a turnover of Rs. 112 crores for Q1 2018. Profit Before Tax is Rs 2.86 crores.
The Company along with its wholly owned subsidiary company IDLEL has won major orders worth Rs 202 crores in a recently concluded tender floated by Coal India Limited for a period of 2 years for cartridge explosives & accessories against Rs 140 crores in the previous two years orders. In addition, orders from a major integrated steel plant for explosives worth Rs. 100 crores over 3 years received. Currently, the Company along with its IDLEL has Rs 550 crores worth of pending order on hand.
REALTY DIVISION
Ecopolis at Bengaluru
Block 3 is a LEED Gold certified building which is ready for fit outs and has received Occupancy Certificate as intimated earlier. The MLCP (11 levels) is designed as an infrastructure bank which accommodates DG sets on the ground level, hybrid HVAC chillers on the terrace level and additional car parks in the remainder levels which will cater for three buildings in the campus.
Block 2 which is also a green building and pre-certified LEED Gold rated with a constructed area of 1.06 million sft. Block 2 is under-construction and will be ready for fitouts in Q1 2018. This building also has 3 levels of basement to accommodate clients’ carparks. Work is in progress in all aspects such as façade, MEP works, lobby interiors and other related works which includes road infrastructure and landscaping.
Proposed metro link to Kempegowda International Airport will run parallel to the International Airport road, on Ecopolis side and will be completed in year 2020. This infrastructural initiative will give a major boost to development of North Bangalore as it will connect North Bangalore to the remainder of the residential quadrants of Bangalore.
There have been many enquires and discussion on large Built-to-suit campus for MNC which is underway. There has also been discussion for take-up of space in Block 3 and Block 2.
The Developer Company is closely working with consultants and local brokers in this regard. They have received clients’ sale/lease and built to suit requirements and are working towards a positive conclusion.
Kukatpally at Hyderabad
Robust growth of office occupancy in Hyderabad has given a boost to the real estate market in the city. This trend will help the development of our land at Kukatpally. The 100-acre land parcel will be developed as an integrated mixed use township consisting of IT / ITeS commercial space, hospitals, retail, with educational and hospitality spaces besides residential buildings. The Master Plan for the 100-acre development has been redesigned and a detailed design for Phase 1 of the development has been put up for approval.
Corporate Comm India(CCI Newswire)
