gayatri projects limited - Edelweiss

Brief Financials(Rs. In Lakhs)Particulars 2002-03 2003-04 2004-05Sales - - -Other Income - - -Profit After Tax - - -Equity Share Capital * (Face Value Rs 1000/**- per share) .02 0.02 1.00Reserves & Surplus (excl revaluation reserves and deferred tax reserve) - - -Earning Per Share (Rs.) - - -Book Value/ Share (Rs.) (29000.00) (29500.00) 340.00Net Worth (0.58) (0.59) 0.34* Does not include Share Application money.**Subdivide into shares of Rs 10/- each with effect from December 30,2005Parameswari Hotels & Theatres Private Limited is not listed at any Stock Exchange neither it has any subsidiary.Parameswari Hotels & Theatres Private Limited has not completed any public or right issuein the prceeding threeyears. It has not become sick under the SICA and is not under windingup.Parameswari Hotels & Theatres Private Ltd. is being amalgamated with M/s Gayatri Hi-Tech Hotels Limited witheffect from the appointed date as per the Order of the High Court of Andhra Pardesh dated July 21, 2006. Theshareholders of Parameswari Hotels & Theatres Private Limited will be entitled to 1 equity shares of Rs. 10/- eachfully paid up and 3 optionally fully cionvertible debentures of Rs. 100/- each of Gayatri Hi-Tech Hotels Ltd. for every1 equity shares held by them.OUR JOINT VENTURESThe company’s existing Joint Ventures are:IJM-GAYATRI JVIJM-Gayatri JV has been formed on December 21, 1998 in the ratio of 60:40 for submitting the prequalification, tender andsubsequent execution of various civil and / or structural works including Earth works, National and / or State Highways,Bridges, Dams, Reservoirs, Airports, Roads and Buildings within India. This is an unincorporated joint venture in the natureof partnership.Financial Performance(Rs. in lakhs)Sr.No. Particulars 2005-06 2004-05 2003-041. Sales 3286.69 9209.98 13714.612. Other Income 16.59 682.59 16.383. Profit After Tax (261.30) 420.46 (87.27)4. Sources of Funds* 7355.52 7001.62 8211.11* Sources of Funds indicate joint venture member’s capital and unsecured loans.Benefit of the Joint VentureTo obtain technical / financial qualification required for the road projects.GAYATRI-RANJIT JOINT VENTUREGayatri-Ranjit JV has been formed on February 2, 2001 in the ratio of 55:45 for the purpose of preparation, submission ofpre-qualification document and performs contract works viz. Kishangarh-Udaipur Section of NH-8 and Udaipur-Ratanpur-Gandhinagar of NH-8. This is an unincorporated joint venture in the nature of partnership.113