B. D. Mundhra in Calcutta on Friday. Picture by Kishor Roy Chowdhury

Calcutta, July 1: The net profit of Simplex Concrete Piles (India) has jumped 159 per cent to Rs 25.17 crore for the fiscal ended March 31 from Rs 9.7 crore achieved in the previous fiscal.

The increase in the company’s earnings came on the back of a 53 per cent growth in sales at Rs 999.01 during the reporting fiscal against Rs 652.74 crore in the year earlier. The profit before tax grew 142 per cent to Rs 34.4 crore from Rs 14.24 crore over the same period.

“We have been consistently growing at the rate of 30 per cent and expect to gross a turnover of Rs 1,300 crore during the current fiscal. Plenty of opportunities are emerging in the infrastructure sector, both at home and abroad. We are looking at 15 per cent of our turnover during the current fiscal coming from overseas projects and the share is expected to grow to 50 per cent over the next five years,” said B. D. Mundhra, chairman and managing director, Simplex Concrete Piles (India) Limited.

The company’s improved profitability can be attributed to its large portfolio of projects that spreads across all sectors ? industrial, power, marine, construction, water management and urban infrastructure, pointed out Mundhra. The order book of the company currently boasts of a Rs 3,800-crore booty.

Simplex also plans to establish its presence in overseas markets including the CIS countries during the current fiscal, mentioned Amitabh Mundhra, director of the construction company. “At present, we have presence in most of the countries in West Asia. We will shortly set up a subsidiary in Bahrain in the form of a 50:50 joint venture with a local partner.