Mumbai : Gayatri Projects Limited (GPL), a prominent and well established infrastructure company specializing in road, irrigation,
power transmission and industrial projects, with a pan India presence and a strong asset development portfolio, has announced its results for the quarter & full year ended 31st March, 2013.

Commenting on the results, Mr.Sandeep Kumar Reddy, Managing Director, Gayatri Projects Limited said, “We are pleased with our performance, despite the challenging business environment. The performance of both our subsidiaries too continued to be progressive meeting our expectations. All our completed road projects under our subsidiary GIVL, continues to remain cash positive post fulfilling all its debt commitments and the subsidiary is well placed to gain from any lowering of interest rate.

In  addition, we expect the revenues under our road business to be further bolstered once work on Sai Maatarini Tollways Project which is expected to achieve financial closure shortly, commences.

Work on our power projects also continues to progress  as per schedule with TPCIL recently securing 25 years PPA  from the AP government at an attractive rate. We are confident that we will commence the first phase of the same from mid 2014 and NCCPL by FY 15.

Our diversified order book continues to remain strong thus offering stable earnings visibility and also assists us in  reducing the business dependency on a particular vertical.”

Source : Sachin Murdeshwar