INKEL profits grow25 per cent in FY 2015-16


Kochi, May 09: INKEL Limited, Kerala’s PPP-model infrastructure development company promoted by the state government, registered an impressive performance during the financial year 2015-16 with a net profit of Rs 19.67 crores – up 25 per cent from Rs 15.8 crores a year earlier. 

 

“The pattern of revenue earnings during 2015-16 changed substantially due to the success of commissioning of Tower 2 at the INKEL Business Park in Angamaly, Thrissur, and diversifying into core areas like bridges and roads.  Deployment of large funds for development activities is a key reason for the change in revenue pattern,”said T Balakrishan, Managing Director, INKEL.

  

Consolidated revenue for the year was pegged at Rs 39.99 crores with a net profit before tax of Rs 19.67 crore.

 

“Another significant change in the nature of our operations is that we have begun to focus more on core infrastructure projects,” said MD.

 

He also added that the INKEL Business Park at Angamaly has attracted very good response from the industries.

 

“Tower 1 with 200,000 sq ft of space is fully occupied. And in Tower 2, of the built-up space of 200,000 sq ft, 70,000 sq feetwas sold out before its formal commissioning. Towers 3 and 4, each with 300,000sq ft and Towers 5 and 6, each with 100,000 sq ft will be ready by 2017-2018,” said Mr Balakrishnan.

 

INKEL, meanwhile, has also forayed into Solar Engineering, Facility Management, Advisory and Consultancy, and Modern AgriFarming.

 

The Piravom farm is fully commissioned and the Agri Farm project in Palakkad is under implementation.

 

Additionally, 21 industrial enterprises and seveneducational institutions have come up at Inkel Greens in Malappuram.

 

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

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