Concurrent (India) Infrastructure Limited
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BSE Code:
531261
NSE Code:
Business Profile
Business Profile
Kushagra Software (KUSHSOFT) was incorporated in 1994. The operations of the company are centered on the software business, finance and share trading. KUSHSOFT deals in trading of major software products like software for accounting in health insurance, software for bodybuilding gymnasiums, software for beauty and skincare programs, ..etc. Recently, the company partnered with Concurrent Infrastructure for the development of residential complexes at Hitech City, Madhapur, Hyderabad to target the high-end home seekers and software professionals in Hyderabad. The major financial activity of Kushagra Software is providing finance to corporates. The registered office of the company is located at Mumbai, India.
Financials
Kushagra Software registered a profit of Rs 0.17 million for the year ended March 2008.
Net Sales dropped by 13.20% to Rs 518.03 million for the year ended March 2008, from Rs 596.82 million for the year ended March 2007.
Total income decreased 12.72% to Rs 526.03 million for the year ended March 2008, from Rs 602.72 million for the year ended March 2007.
The earnings per share (EPS) of the company stood at Rs 0.01 in the year ended March 2008.
Recent Developments
18-MAR-08
Kushagra Software and Concurrent Infrastructure has received a letter of intent from one of the leading real estate funds for the development of 11.25 acres of land located near Hi-Tech City of Hyderabad. Under the proposed development, Concurrent Infrastructure is planning to have 2, 00,000 SFT per acre which makes the company to have a total salable area of 22, 50,000.
09-JAN-08
Kushagra Software along with its joint venture partner Concurrent Infrastructure has planned to develop 2.2 million SFT residential complexes at Hitech City, Hyderabad. The project is expected to generate a revenue of Rs 10.41 billion and will cater to the needs of high-end home seekers and the company intends to target the Software Professionals located in Hyderabad.Concurrent Infrastructure, the joint venture partner has initiated the discussions with the Pedigree Real Estate Funds and also the company is in the final stage of negotiation for striking a deal with a private equity real estate funds.Recently, the board of directors of the company approved the formation of joint venture (JV) with Concurrent Infrastructure, a Hyderabad based infrastructure provider, to partner in developing infrastructure projects.The board also approved raising of Rs 150 million through preferential issuance of shares, of face value Rs 10, at a premium of Rs 15 for the purpose of participating in joint venture with Concurrent Infrastructure.
Future Plans
The board of directors of the company are envisaging to augment the investment base of the company through participation in various equity/debt/bond markets and in mutual funds with a view to earn good returns for the company.