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INKEL records rs 19.67-crore profit

Published: 10th May 2016 03:56 AM  |   Last Updated: 10th May 2016 03:56 AM   |  A+A-

KOCHI: INKEL Limited, the leading PPP-model infrastructure development company in the State, recorded a net profit of Rs 19.67 crore in the 2015-16 financial year, marking a 25 per cent growth from Rs 15.8 crore registered a year earlier.

“The pattern of revenue earnings in 2015-16 changed substantially, due to the successful commissioning of Tower-II at NKEL Business Park-Angamaly and diversification into core areas like bridges and roads. Allocation of large funds for developmental activities is a key reason behind the change in revenue pattern,” said INKEL managing director T Balakrishan.

Consolidated revenue for the year was pegged at Rs 39.99 crore during the year, and net profit before tax of was Rs 19.67 crore.

Balakrishnan said that INKEL Business Park-Angamaly had been receiving very good response from many industries.

Meanwhile, INKEL has forayed into solar engineering, facility management, advisory and consultancy, and modern agricultural farming. The company’s Piravom Farm has been fully commissioned, while the Agri Farm project in Palakkad is under implementation.

Also, 21 industrial enterprises and seven educational institutions have come up at INKEL Greens-Malappuram.

“The total value of projects in hand, including both the ongoing ones and those in the pipeline, stands at Rs 600 crore in the current financial year. Revenue is expected to grow substantially in the next fiscal year, in accordance with the growth in construction, bridges and roads, and contribution from new verticals,” added Balakrishnan.



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