Marg Limited
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BSE Code:
530543
NSE Code:
MARG
Business Profile
Business Profile
Marg (MARGCON), earlier known as Marg Constructions, is an infrastructure development company in South India. It was incorporated on Dec. 16, 1994 and got its present name on Dec. 17, 2007.
The company operates in the business verticals of port development, special economic zones (SEZs), IT parks, malls, townships, serviced apartments and power projects. It has completed power projects like the 48 MW 33/66 KV substation for Alstom in Karnataka; the 25 MW wind farm project for RCI Power, assisted by Government of Netherlands, at Tadapatri in Andhra Pradesh; and the 10.2 MW power project for Enercon India in Maharashtra among other projects. It has developed the IT parks Marg Square and Digital Zone 1 on the Chennai IT Corridor.
Future projects for 2007 and beyond include the concession agreement with the Government of Pondicherry to build a state-of-the-art, all-weather port in Karaikal with a planned investment of INR 11.2 billion. The company has acquired a cutter-suction-dredger from China for INR 520 million and forged an alliance with Pembinaan Redza, Malaysia to explore potential co-operation on a variety of areas for the Karaikal port project. It has received approvals for two special economic zones (SEZs) near Chennai spread over 612 acres. One of the SEZs would cater to the multi-services sector and the other is for the light engineering sector including auto ancillary. The SEZs are being developed as integrated townships. Other plans include development of malls like the Riverside Mall, serviced apartments starting with Marg Oakwood Residence in Chennai, residential colonies including the Kalavakkam Residential Colony, and IT parks in the commercial real estate space. The company launched its foray into the real estate luxury market with Tapovan, a weekend home.
The registered office is located at 4/318, Old Mahabalipuram Road, Kottivakkam, Chennai-600041.
Financials
Marg registered a 12.46% growth in net profit to Rs 65.9 million for the quarter ended September 2007 from a profit of Rs 58.6 million for the quarter ended September 2006.
Net sales rose 76.26% to Rs 490.7 million for the quarter ended September 2007 from Rs 278.4 million for the quarter ended September 2006.
Total income rose 63.31% to Rs 490.9 million for the quarter ended September 2007 from Rs 300.6 million for the quarter ended September 2006.
The earnings per share (EPS) of the company stood at Rs 2.59 for the quarter ended September 2007.
Recent Developments
01-JAN-08
Marg Constructions announced that the name of the company has been changed to `MARG` with effect from Dec. 17, 2007. The company has received the fresh certificate of incorporation consequent upon change of name on Jan. 02, 2008.