Discrimination faced by Mumbaikars...

If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.

Friday, April 26, 2013

IRB Infrastructure Ltd: End of Bear Phase
IRB Infrastructure Ltd is an integrated infrastructure development and construction company in India with significant experience in the toll roads and highways sector. IRB is one of the largest private developers in India with 18 BOT Projects out of which 12 Projects are under operation. IRB Infrastructure Ltd has a massive order book, of approximately Rs. 9100 Cr out of which Rs. 7100 Cr worth of order book is to be executed in the next three years. Such massive order book gives the company a good visibility for the next three years. The company according to media report would continue to bid for viable projects.
Financials:
  • IRB Infrastructure Ltd, declared a profit of Rs.1.43bn (1 billion= 100 Cr) on total income of Rs.9.47bn for the Q3FY13. Income from operations was up by 23% to Rs.9.14bn for Q3FY13 from Rs.745 crores for Q3FY12. 
  • IRB has also declared 3rd interim dividend of Re. 1 per share for FY13. 
  • Due to strong construction activities, construction revenue increased by 29% in comparison to Q3FY12. 
  • Construction segment Operating EBITDA remained strong at around 26% during the quarter ended 31st December, 2012.  
  • Toll revenue also increased by around 10% in comparison to Q3FY12 on the back of moderate traffic growth.
 Update on Projects
  • From 1st January 2013, IRB Infrastructure Lted has commenced toll collection on its Ahmedabad Vadodara Expressway and construction on NH8, both forming part of Ahmedabad Vadodara BOT Project. The Construction period is 3 years with concession period of 25 years. The average daily toll collection stands at Rs.40 mn on gross basis. 
  • IRB Infra has also received all requisite approvals to commence work on its Sindhudurg Airport project and accordingly construction will commence in this quarter. The Project is having total capital outlay of Rs. 3.50 bn to be funded with debt equity mix of 2:1 which will be funded from internal accruals
  • In Q3FY13, IRB Infra bagged the project of  Four Laning of  Goa/ Karnataka Border – Kundapur section of NH- 17 from existing 93.700 Km to 283.300 Km  in the State of Karnataka under NHDP Phase IV  on Design, Build, Finance Operate and Transfer (DBFOT) Toll Basis.
The company continues to focus on BOT infrastructure projects in the road and highways sector. The company in the last quarter had successfully complete real estate project having land bank of ~1200 acres and Airport Project. The company is  currently identifying strategic investment opportunities.

Very recently IRB Infrastructure Developers said its wholly-owned subsidiary, IRB Westcoast Tollway, has executed concession agreement with the National Highways Authority of India (NHAI) for a road project in Karnataka on design, build, finance, operate and transfer (DBFOT) (Toll) basis. The project has a concession period of 28 years. Scope of work involves upgradation of existing section of National Highway (NH)-17 between Goa/Karnataka border and Kundapur from existing 2 lane highway to 4 lane highway. Estimated project cost is approximately Rs.2600 crore and the construction is to be completed within 910 days from the appointed date. IRB Westcoast Tollway will get tolling rights on NH-17 upon completion of construction. The grant sought by the IRB Westcoast Tollway from NHAI is Rs.536.22 crore.
Recently, IRB Infrastructure Developers Ltd's  founder VD Mhaiskar bought 2.7 lakh shares in the company.  
IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles. The scrip of the company should be bought at the CMP of Rs.116, for a target of Rs.126-129, in the coming weeks.