Maytas Infra achieves Turnover of Rs. 1637 crores, reports Net Profit of Rs.99.64 crores in FY 07-08

Hyderabad, India, June 30, 2008: IL&FS Engineering and Construction Company Limited [Maytas] has reported a turnover of Rs.1, 637 crores for the year as against Rs. 601 crores, registering a growth of 172% over the previous year and an EBIDTA of Rs.230 crores as against Rs. 104 crores of the previous year. The Company has also reported a net profit of Rs.99.64 crores as against of Rs. 53 crores of the previous year.

The Company has reported a basic EPS of Rs.18.44 for the year 2007-08 as against Rs. 10.62 of previous year.

CONSOLIDATED RESULTS

IL&FS Engineering and Construction Company Limited, on a consolidated basis has achieved a turnover of Rs.1,874 crores (Consolidated) for the year ended 31st March 2008 as against the turnover of Rs. 782 crores in the Previous Year, registering a growth of 140 % over the Previous Year. The Company posted an EBIDTA of Rs.244 crores (Consolidated) and net profit after tax of Rs. 90.75 crores for the year as against Rs. 117 crores and Rs. 49 crores respectively in the previous year.

The order book of the Company stood at Rs.6231 crores as on 31.05.2008

The Board of Directors at their meeting held on 30.06.2008 has recommended an equity dividend of 15 % (i.e., Rs.1.50 per Equity Shares) subject to the approval of Shareholders at ensuing Annual General Meeting (AGM).

Commenting on the results, Mr. B Teja Raju, Vice Chairman, Maytas Infra said, “The strong performance in FY 08 is a culmination of Company’s focus on strengthening the systems and processes and are in line with our mission of being one of the top 3 infra companies in the country .” He also added “We continue to win the confidence of the customers through our high standard execution capabilities, and intrinsic strengths like being technology driven integrated infrastructure company with presence in almost all the verticals. We are confident of achieving similar growth in the next fiscal also.”