gayatri projects limited - Edelweiss

Benefit of the Joint VentureTo obtain technical qualification required for bidding the said project.RNS-GPL JOINT VENTURERNS-GPL Joint Venture has been formed on May 7, 2005 in the ratio of 50:50 for tendering and execution of work consistingof construction and completion of widening and strengthening of roads from Ramanathapuram to Tuticorn with a total lengthof 118 kms of State Highways in Tamilnadu. This is an unincorporated joint venture in the nature of partnership. No separateaccounts of RNS-GPL JV are maintained as all transactions pertaining to this JV are accounted for in the books of accountsof RN Shetty & Company Private Limited.GAYATRI-ECI JOINT VENTUREGayatri-ECI JV has been formed on August 18, 2005 in the ratio of 75:25 for executing the works for widening andstrengthening of existing National Highway from 2-lane to 4-lane from Km 60.0 to km 30.00 of Bijni to WB Border Section ofNH-31C in Assam. This is an unincorporated joint venture in the nature of partnership.Financial Performance(Rs. in lakhs)Sr. No. Particulars 2005-061. Sales -2. Other Income 0.013. Profit After Tax (0.67)4 Sources of Funds* 2240.50* Sources of Funds indicate joint venture member’s capital and secured loans.GPL-BRAHMAPUTRA CONSORTIUM LTD.GPL- Brahmaputra Consortium Ltd. JV has been formed on November 8, 2005 in the ratio of 26:74 for execution of works forup-gradation , strengthening, operation and maintenance on BOT basis in the State of Punjab of Hoshairpur – PhagwaraRoad (35.50 km), Sirhind – Morinda – Ropar road (43.22km), Dakha – Raikot – Barnala road (57.94 km) and Bhawanigarh– Nabha – Gobindgarh (55.42 km). The JV will be incorporated once the projects are awarded to the JV. There are nofinancial transactions in the JV during the year 2005-06 and hence no financial information is made available.115