Kerala's Kitco achieves 19.2 per cent growth in turnover, profits up by 11.6 per cent

Kitco is also providing project management consultancy for the expansion of the existing integrated terminal building at the Mangaluru International Airport.

Published: 09th November 2018 01:22 AM  |   Last Updated: 09th November 2018 11:57 AM   |  A+A-

Rs 2000, cash,money

For representational purposes (File | Reuters)

By Express News Service

KOCHI: Kerala’s public sector technical consultancy organisation Kitco Ltd (Kerala Industrial and Technical Consultancy Organisation) achieved 19.19 per cent growth in its turnover in the 2017-18 fiscal year (FY). It achieved a turnover of Rs 60.02 crore and its profits rose by 11.62 per cent to Rs 9.34 crore.

“Kitco has achieved a pan-India presence. It undertook 138 projects across the country in various sectors, including tourism, infrastructure, industrial and human resource development, in 2017-18, compared to 113 in the previous FY,” Kitco managing director Cyriac Davies told reporters on Wednesday.

After successfully completing work of international terminal (T3) at the Cochin International Airport for half the cost than similar major airports, Kitco was able to execute the work of Kannur International Airport terminal at Rs 65,000 per sq m, he said. The total cost of the project is Rs 632 crore and the total area of the terminal building is 10.82 lakh sq feet (approximately 1 lakh sq m).“The challenge in implementing the Kannur airport terminal was the 35 m difference between ground level and runway. When an airport project is cost-effective, tariff determination for various services will be reduced which, in turn, will lower travel costs,” Davies said.

The Kannur airport will be the first LEED (Leadership in Energy and Environmental Design) gold-certified green airport in Kerala. Kitco is also providing project management consultancy for the expansion of the existing integrated terminal building at the Mangaluru International Airport. It is working on sectors like defence, undertaking various projects of BEL and HAL. Kitco is providing consultancy for setting up a defence system integration complex for BEL in Andhra Pradesh and for HAL, consultancy is being provided for setting up an aero-engine research and development centre. Davies said Kitco recently bagged a project in Seychelles under the EXIM Bank project to provide consultancy for super-speciality hospital.

CSR fund not misused: Kitco MD  

Kochi: Refuting allegations of misappropriation of its Corporate Social Responsibility (CSR) Fund, the Kerala Industrial and Technical Consultancy Organisation (Kitco) managing director Cyriac Davies has said the Forest Department’s claim it was unaware of Kitco’s project was untrue.  RTI activist N Sivakumar had alleged Kitco siphoned off H53.23 lakh in the name of empowering tribal women.  Davies said the project was implemented with the help of Rajagiri Outreach.  

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