NTPC-BHEL Power Projects (NBPPL) has reported a turnover of Rs 1.15 billion, exceeding the target of Rs 900 million for the financial year 2010-11, its first year of commercial operations.
The joint venture of NTPC and BHEL reported a profit before tax of Rs 100 million, surpassing the PBT target of Rs 40 million. Set up in 2008, the joint venture mainly carries out the engineering, procurement and construction contracts for power and infrastructure projects in India and abroad.
For the current year 2011-12, the company has signed an MoU with NTPC and BHEL to achieve 90% growth in turnover with matching increase in profit.
NBPPL is setting up a power equipment manufacturing at Mannavaram in Chittoor district, Andhra Pradesh, which is expected to commence production in 15 months. It also proposes to set up a facility for coal and ash handling plants by 2012-13.
MoU signed
For the current year 2011-12, the company has signed an MoU with NTPC and BHEL to achieve 90% growth in turnover with matching increase in profit.
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