Era Infra Q2FY09 net profit at Rs. 35.67 cr; up by 44.30%

Revenues at Rs. 418.96 cr; up by 63.38%

Financial Highlights (all comparison to Q2FY08)

Revenues at Rs 418.96 Crore up by 63.38% as compared to Rs 256.43 crore

EBIDTA at Rs 96.70 Crore up by 67.88% as compared to Rs 57.60crore

Net Profit at Rs 35.67 Crore up by 44.29% as compared to Rs 24.72 crore

Operating margin stood at 23.08% as compared to 22.46%

EPS for the period stood at Rs 3.09 v/s Rs 1.88

Financial Highlights (all comparison to H1FY08)

Revenues at Rs 809.89 Crore up by 60.59% as compared to Rs 504.30 crore

EBIDTA at Rs 186.09 Crore up by 47.45% as compared to Rs 126.21crore

Reports Net Profit of Rs 64.06 Crore up by 12.46% as compared to Rs 56.96 crore

Operating margin stood at 22.98% compared to 25.03% in Q2FY08

EPS for the period stood at Rs 5.55 v/s Rs 5.33

Era Infra Engineering Ltd, an integrated infrastructure development company with a pan India presence, today announced its financial results for the quarter ended September 30, 2008.

For the quarter ended September 30, 2008, the company recorded revenues of Rs 418.96 crore, an increase of 63.38% from Rs 256.43 crore in the corresponding quarter last fiscal. EBIDTA stood at Rs 96.70 crore, an increase of 67.88% as compared to Rs 57.60 crore in Q2 FY08. Net profit stood at Rs 35.67 crore, up by 44.29% from Rs 24.72crore. The operating margins increased to 23.08% from 22.46% in the corresponding quarter last fiscal.

For the half year ended September 2008, Era Infra Engineering’s revenue was at Rs. 809.89 crore, up 60.59% from Rs. 504.30 crore during the corresponding period last year. The EBIDTA for the half year stood at Rs 186.09 crore, registering an increase of 47.45% from Rs126.21 crore. The company reported a Net Profit of Rs. 64.06 crore, up 12.46% as against Rs. 56.96 crore in the same period of last year. The operating margins increased to 22.98% from 25.03% in the corresponding quarter last fiscal.

Commenting on the company’s performance, Mr. H. S. Bharana, Chairman & Managing Director, Era Infra Engineering Ltd. said, “We are pleased to report an operationally good second quarter especially in the difficult economic scenario. Our robust economic growth is the result of continuous order flow, foray into new sectors and strict adherence to timelines. With the growing trust and new orders in pipeline we are looking at a consistent, healthy growth throughout this financial year’.

Highlights of the quarter:
During the quarter the Construction & Contracts division of Era Infra Engineering Limited received the following contracts:

Rs. 208.94 crore from Naya Raipur Development Authority (NRDA) for construction of Head of Department Building in Chhattisgarh

Rs. 129.65 crore from AAI for the construction of a new expandable modular integrated terminal building at the Raipur Airport. Era Infra has been engaged with the Pune airport project as well which is on the verge of completion.

Rs. 111.27 crore from CPWD for Up-gradation, renovation and new construction for Commonwealth Games-2010 in J N Stadium Sports Complex, New Delhi

Rs. 95.5 crore from BHEL for civil, structural & architectural work at 1 x 500 MW Thermal Power Station in Gujarat

Rs. 79.20 crore for Commonwealth Games 2010 from CPWD for the construction of Wrestling Stadium at Indira Gandhi Stadium Complex, New Delhi

Rs. 70.75 crore from CPWD for up-gradation, renovation and new construction for Commonwealth Games 2010 in Dr. Karni Singh Shooting Range, Tuglakabad

Rs. 58.52 crore for Main Power Block from BHEL for civil, structural & architectural work at 1 x 350 MW Cycle Power Plant at Hazira, Gujarat

Rs. 52.55 crore from CPWD for up-gradation of Institute of Medical Sciences at Banaras Hindu University under PMSSY

Rs. 42.35 crore for construction from DSIIDC for construction of Industrial Worker Housing with Cost Effective technologies at Narela

Rs. 35.17 crore from CPWD for construction of additional general pool office accommodation at Kavadiguda, Secunderabad

Rs. 30.98 crore from NATRIP for construction of buildings and associated works at Manesar

About Era Infra Engineering Limited:
Era Infra Engineering Limited (EIEL), a flagship company of Era Group. EIEL is a fully integrated infrastructure company participating in India's core infrastructure and construction sectors The Company develops and constructs highways, railways, airports, power and industrial projects, institutions & universities and residential & commercial complexes. For the year ended March 30, 2008 Era Infra recorded net profit of Rs 121.37 crore and EBIDTA of Rs 327.89 crore. More details about the company are available on www.eragroup.co.in.