C&C Constructions' net up 68% at Rs 690 cr

Infrastructure company C&C Constructions today reported a 68 per cent jump in its net profit at Rs 690.8 crore for the quarter ended June 30, 2010.

The company had reported a net profit of Rs 411 crore in the corresponding quarter of the last fiscal (2009-10).

C&C Constructions has an orderbook of Rs 2,600 crore with 16 projects, including two in Afghanistan. The company hopes to nearly double this orderbook in the next couple of years.

"Our orderbook is Rs 2,600 crore and we should be able to take this figure to Rs 5,000 crore in two years," G S Johar, chairman, C&C Constructions told PTI.

The company is constructing Parliament and the Indian Chancery in Afghanistan.

It is also executing a United States Agency for International Development (USAID) funded project in Afghanistan.

"We are executing the Afghanistan Parliament and Chancery projects, valued at $130 million and USAID funded project," Johar said, adding that another project for USAID.

The company is also eyeing mega road projects announced by the government, as an EPC (engineering, procurement and construction) contractor.

"We are not looking at building the road projects, we would like to take them up on EPC basis," he added.

Shares of the company closed at Rs 243.50 per piece, up 1.8 per cent on the Bombay Stock Exchange.