At the outset I would like to thank you for showing trust in the Company in itsjourney so far. With the help of your support in the QIP the net worth of the Company hasgrown from Rs. 1054* Crore to Rs. 1680 Crore thereby enabling the Company to bid forvarious projects.
The year gone continued to be quite robust for the infrastructure sector especiallyroads where projects more than 10000 knots valued at Rs.l lac Crore were awarded by theCentral Government with a promise to award 5000 kins in 016-17. Also the FinanceBudget 016 allocated Rs.97000 Crore for the ensuing year. This entails a tremendousopportunity for the Company to participate and win projects at desired margins.
In the last year Compary could bag road projects of Rs. 2800 Crore. Though due toteething problems for the projects won they could not start execution in the yearresulting in no growth in EPC revenues in this year but we are confident that we willmake up for the same in the coming year. We are glad to state that we have forayed inoverseas project after bagging a road project in Maldives in a JV and hope to perform wellin the same. We are glad to state that toll revenues have had robust growth in the lastyear and with expectation of economy to perform better the same will continue to grow. Wehad to terminate one of our minority JV project with L&T viz. Pimpalgaon Nasik GondeProject due to lack of government support to collect toll. On prudency grounds we havewritten off/provided for all the sums we have invested in the project till date. This willstop future losses of the project to the Company.
We continue to ramp up our orders in the current year with the huge opportunityavailable. Also with thrust on the power T&D sector with the Uday Scheme on thehorizon we expect steady pace of activity in this space too.
With the state of affairs on economic front and our preparedness we are poised foranother cycle of growth.
I thank the Board Members my Colleagues the Stakeholders including the ShareholdersPrivate Equity Partners Lenders Employers Vendors and Employees for all the support andparticipation in helping us create global footprints in Infrastructure.
With best wishes