gayatri projects limited - Edelweiss

GAYATRI PROJECTS LIMITEDFinancial Performance(Rs. in lakhs)Sr.No. Particulars 2005-06 2004-05 2003-041. Sales - 3526.15 6662.232. Other Income - - -3. Profit After Tax (5.54) 6.29 5.184 Sources of Funds* 286.83 286.83 605.61* Sources of Funds indicate unsecured loans.Benefit of the Joint VentureTo obtain technical qualification required for bidding the said project.SIMPLEX - GAYATRI CONSORTIUMSimplex-Gayatri Consortium has been formed on December 4, 2001 in the ratio of 70:30 for the purpose of submitting anoffer for the work of Four Laning of Satara-Kolhapur to Maharashtra State Border Section of NH-4 Package - II from Km 616/000 to Km. 639/000 and execute the said work. This is an unincorporated joint venture in the nature of partnership.Financial Performance(Rs. in la khs)Sr.No. Particulars 2005-06 2004-05 2003-041. Sales - - -2. & Other Income - - -3. Profit After Tax - - -4 Sources of Funds* 4.00 335.78 961.33* Sources of Funds indicate Advances from ClientsNote : Revenue is recognized under completed contract method as per AS-7 Accounting for Construction contracts issuedby ICAI.Benefit of the Joint VentureTo obtain technical qualification required for bidding the said project.JAIPRAKASH - GAYATRI JOINT VENTUREJaiprakash-Gayatri JV has been formed on July 9, 2004 in the ratio of 60:40 for the purpose of participation in the prequalificationbids as a joint venture and to participate subsequently in the tenders for the projects. This is an unincorporatedjoint venture in the nature of association of persons.Financial Performance(Rs. in lakhs)Sr. No. Particulars 2005-06 2004-05 2003-041. Sales 14509.83 - -2. Other Income - - -3. Profit After Tax - - -4 Sources of Funds* 15652.00 4648.66 -* Sources of Funds indicate joint venture member’s capital and unsecured loans.114