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IL&FS Engineering & Construction Co Ltd.

BSE: 532907 Sector: Infrastructure
NSE: IL&FSENGG ISIN Code: INE369I01014
BSE LIVE 15:40 | 17 Aug 42.80 1.35
(3.26%)
OPEN

41.65

HIGH

43.05

LOW

41.65

NSE 15:51 | 17 Aug 42.95 1.65
(4.00%)
OPEN

41.30

HIGH

43.40

LOW

41.25

OPEN 41.65
PREVIOUS CLOSE 41.45
VOLUME 4971
52-Week high 66.00
52-Week low 36.80
P/E
Mkt Cap.(Rs cr) 561
Buy Price 42.80
Buy Qty 498.00
Sell Price 0.00
Sell Qty 0.00
OPEN 41.65
CLOSE 41.45
VOLUME 4971
52-Week high 66.00
52-Week low 36.80
P/E
Mkt Cap.(Rs cr) 561
Buy Price 42.80
Buy Qty 498.00
Sell Price 0.00
Sell Qty 0.00

IL&FS Engineering & Construction Co Ltd. (IL&FSENGG) - Chairman Speech

Company chairman speech

MAYTAS INFRA LIMITED ANNUAL REPORT 2007-2008 CHAIRMAN'S REPORT Chairman's Message As I gaze out of my cabin and watch the bright sun belting down on the Deccan Plateau, it strengthens my belief that its brightness is reflective of the immense potential of the Indian economy. And a crucial parameter for our economy to shine bright is Infrastructure Development. Ironically, while the Indian economy has grown by leaps and bounds, Infrastructure still remains an area that is grossly underdeveloped and is dragging down the economic growth rate. Our Company has been early to sense a clear business opportunity here and soon, I believe we will be ranked among the very best in infra companies, noijust in India but globally too. Maytas Infra has very strong brand equity in the construction space and has leveraged the same to venture into the Infrastructure space wherein it intends establishing a plan leadership position. This initiative has been backed by a well thought out strategy keeping in mind the macroeconomic factors and the unique strengths of the Company. For the five-year period 2002-06, our country's construction expenditure has been estimated at Rs. 3313 billion. Yet there is a huge expenditure gap that needs to be filled in across various infrastructure segments like roads & highways, ports, airports and power. To address this gap, the Government of India has initiated various steps which include increased private sector participation in the execution of infrastructure related projects (under the aegis of PPP - Public-Private Partnership arrangements), providing for viability gap funding and establishment of agencies whose role would be to make these projects financially viable for private companies. In the five year period between FY07-FY11, it is estimated that infrastructure construction investmentswill exceed Rs. 6000 billion. Clearly, the trend in investments in the infrastructure sector over the last half decade has been upward. Even though external factors are hinting at a slowdown of sorts in the short term, the strong long-term prospects of the segment remain intact. This has accentuated the role of large and well-organized players like Maytas Infrawho can meet global quality standards using advanced technology and the other resources required in this segment. Maytas Infra, with its strategic expertise, strong execution capabilities, and commitment to adopting the highest quality, safety, and environmental policies has the capability to be a prominent global player in the near future. A testimony to our commitment and success thus far is reflected in our bagging the NICMAR Award 2007 of 'India's Fastest Growing Construction Company'. This has enhanced our responsibility, and we remain conscious of the fact that we have to raise the bar and set even higher standards for ourselves. We adopt motto of no cost overrun and no time overrun. Finally, each one of us at Maytas Infra acknowledges the additional responsibility which we now shoulder, of being a listed Company. I take this opportunity to thank our investors for their overwhelming response to our IPO and assure each one of you of ourvery best efforts. Sincerely R.C. Sinha Chairman