Annual Report 2010-2011 - Gammon India

4. Your Company has entered into Joint Venture Agreement with Multiplex Constructions India Private
Limited, an Indian arm of Brookfield Multiplex for construction of High Rise structures both residential
and commercial. The innovations at Brookfield and quality standards of Gammon complement each other
for a sustained relationship in the field of Real Estate.
5. Gammon Realty Limited has in the recent past also quoted some Re-development tenders and is well
placed in acquiring some of these jobs which will mark a foray of Gammon Realty in to the field of redevelopment.
10. Multistoried Buildings:
During the economic slowdown the real estate sector is grown in double digits and will continue to participate
the growth momentum. It has been observed that the demand for the real estate was increased as most of
the newly earning young people have started investing in property which is first in their priority list. Malls and
multiplexes are built to enhance the lifestyle of the common people.
Gammon India Ltd has successfully secured building projects valued at ` 1,500 crore in the year under review at
Mumbai and Bangalore region. These regions have shown huge demand for real estate. The major clients include
Runwal Group, Iskcon, RNA, Sattva Group, and Godrej.
Some of the major projects under execution include:
RNA Address at Kalina, Mumbai having cost of ` 60 crore.
Runwal Greens, the high-rise 8 towers in the centre suburb at Mulund, Mumbai having cost ` 313 crore.
5 star Hotel at Andheri, Mumbai Novotel having cost of ` 61 crore.
Salarpuria Gold one of the tallest Residential Tower of Sattva group at Bangalore having cost of ` 40 crore
with free issue of construction material.
Runwal Elegant, Andheri, Mumbai 3 towers of 30 floors having cost of ` 206 crore.
Sattva Magnificia & Sattva Galleria, Bangalore having cost of ` 88.79 crore & ` 31.91 crore respectively.
Successfully completed major projects are:
Hotel Leela Palace (5 Star), Chennai, having construction area of 800,000 Sq. ft. & costing of ` 117.65
crore.
GSTAAD Hotel, Bangalore costing of ` 7.88 crore.
Godrej Woodsmen Estate, Bangalore having construction area of 21,00,0000 Sqft & costing of ` 70.71
crore.
11. Public Private Partnership Projects:
Your Company undertakes Public Partnership projects through its subsidiary Gammon Infrastructure Projects
Limited. Detailed below is the review of projects in the operations phase and also projects under development:
A. Operational projects
1. Rajahmundry Expressway Limited (REL):
REL is an SPV created for executing the project for widening and strengthening of a 53 km stretch
between Rajahmundry and Dharmavaram in Andhra Pradesh on NH 5, connecting Chennai and
Kolkata. The project has a 17.5-year concession period, including a 2.5-year construction period. The
project has been capitalised at ` 25,600 lakhs. As of March 31, 2011, REL has received 12 annuities
from NHAI (each semi-annual annuity amounting to ` 2961.9 lakhs)
2. Andhra Expressway Limited (AEL):
AEL is an SPV created for executing the project for widening and strengthening of the 47 km stretch
between Dharmavaram and Tuni in Andhra Pradesh on NH 5, connecting Chennai and Kolkata. The
project has a 17.5-year concession period, including 2.5-year construction period. The project has
been capitalised at ` 24,800 lakhs. As of March 31, 2011, AEL has received 12 annuities from NHAI
(each semi-annual annuity amounting to ` 2791.2 lakhs).
A NNUAL R EPORT I 2010/11
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