Rajeswari Infrastructure Limited
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BSE Code:
526823
NSE Code:
RAJINFRA
Business Profile
Business Profile
Rajeswari Foundations (RAJESWARI) is engaged in the engaged in the business of developing residential and commercial building projects. Originally started as a partnership firm, it was converted into a public limited company on Apr. 19, 1993. Earlier known as Rajeshwari Graphics, the company got its present name with effect from Nov. 05, 2004.
With a focus on construction of independent bungalows, the company also has expertise in the areas of civil and structural work, prepress of reprographic work for the printing industry, offset printing, and pressure sensitive adhesive labels and non-adhesive labels. In the year 2003, RAJESWARI entered into civil construction activities with the brand name, RGL Dream Bungalow. It constructs and sells independent bungalows with all amenities at apartment price. Its main customers are software professionals and NRI customers.
Some of the ongoing projects are Arumugam Nagar Ph - II and Rajeshwari Nagar Ph ? II, III and IV at Mugalivakkam. In FY08, the company identified projects like Pallikaranai (Service Apartments) valued at Rs.240 million; Rajeswari Nagar, Mugalivakkarn (Phase IV) valued at Rs 75.4 million; Rajeswari Nagar, Mugalivakkam (Phase V) valued at Rs 58 million and Nanmangalam valued at Rs 134.4 million.
The registered office is at B-3, C Block, Parsn Paradise Apartments, No. 109, G.N. Chetty Road, T. Nagar, Chennai-600017.
Financials
Rajeswari Foundations registered a net profit of Rs 2.56 million for the quarter ended September 2008.
It recorded a net sales of Rs 29.53 million for the quarter ended September 2008.
Total income was Rs 29.53 million for the quarter ended September 2008.
The company posted earnings per share of Rs 0.54 for the quarter ended September 2008.
Recent Developments
19-OCT-07
The Board of Directors of Rajeswari Foundations has made allotment of 7,95,000 convertible warrants of Rs 10 each at a premium of Rs 13 per share as per SEBI Guidelines to the promoters of the Company on preferential basis.
Future Plans
The company plans to develop well defined Modern Township. The township will include shopping malls, multiplexes, entertainment parks and swimming pools, etc.
The project would come up with total built up area of 0.720 million sq. ft in two phases, which consists of 0.360 million sq.ft in each phase (built up area per bungalow to an extent of 1,500 sq.ft for 15 bungalows in an acre).
The proposed project cost is approximately Rs 600 million. The company expects to complete this project within 18 months and expects to generate around Rs 900 million.