An ISO certified integrated Engineering, Procurement and Construction (“EPC”) company with experience in design and construction of various infrastructure projects for the Central and State Government, autonomous bodies, and private bodies across 9 States and 1 Union territory in India.
Principal business operations:
The company is accredited with various registrations as a contractor with various departments and agencies, pursuant to which it is eligible to participate and undertake projects awarded by various other departments and agencies.
The company has design and engineering, procurement, project management and quality management teams along with a fleet of 499 construction equipment and vehicles.
GFCF which is a measure of the net increase in physical asset, is estimated to have made an improvement in FY22. As a proportion of GDP, it is estimated to be at 32.5%, which is the second highest level in 7 years (since FY15). In FY23, the ratio of investment (GFCE) to GDP inched up to its highest in the last decade with 33.9% as per the advanced estimate released.
In order to become a US$ 5 trillion economy by 2025, infrastructure development is the need of the hour. The Government has launched the National Infrastructure Pipeline (NIP) combined with other initiatives such as ‘Make in India’ and the production-linked incentives (PLI) scheme to augment the growth of infrastructure sector. Historically, more than 80% of the country's infrastructure spending has gone towards funding for transportation, electricity and water & irrigation. Centre’s share in NIP is 39% whereas, State and Private sector’s share is 39% and 22% respectively.
With a population of 1.39 billion, India ranks as the world's second most populous country. While 65% reside in rural regions, rapid urbanization driven by economic growth strains metropolitan areas. However, this expansion is unsustainable without efficient urban planning and access to clean, affordable water. Despite serving 18% of the global population, India possesses only 4% of the world's freshwater resources, leading to water stress. Around 50% of its population faces high-to-extreme water shortages. Per capita water availability is declining due to population growth, and by 2050, significant water demand is expected, particularly for agriculture and urban drinking water. Urban areas grappling with contamination and inadequate treatment compound the water management challenge.
The Indian Railways, the world's largest rail network, spans over 0.12 million km with 0.07 million km of routes and 7,000+ stations. Handling 9,000 freight and 13,500 passenger trains, it transports 203+ million tonnes of freight and 24+ million passengers. As India's biggest employer, it contributes 1.5% to GDP and holds 45% of the country's modal freight. The government plans a 70% increase in the ₹2,400 billion rail budget for FY24. FY22 saw a record 1,418 million tonnes of originating freight, up from 1,233 million tonnes in FY21.
A robust infrastructure signals development for a nation, exemplified by road, bridge, airport, and railway expansion, crucial for economic growth. India boasts a 6.37 million km road network, second globally. This network handles 60% of freight and 87% of passenger traffic, with national highways and state roads improving connectivity. Despite pandemic challenges, India's road sector focuses on Bharatmala Pariyojana, integrating modes, enhancing safety, IT usage, funding, and green initiatives, contributing 4.5% to GDP. MoRTH spearheads quality road construction, fostering economic development.
The cement demand is expected to grow by 8-9% y-o-y to 380-385 MT in FY23 to driven by increase in Government push for infrastructure development especially in the rural segment, urban housing growth and constructions. India is one of the largest manufacturers of steel pipes in the world, which is one of the most important sub-industries of the Indian Steel Sector. It contributes around 8% of India’s steel consumption and is valued around ₹600 Billion. India’s steel production to be in a range of 117-119 Million tonnes, a growth rate of 3-5% and consumption growth rate is expected to be healthy at 10- 12% in FY23.
RISK FACTORS TO THE ISSUE:
1. Aadhaar and PAN Card of the taxpayer and the company
2. Bank Statements of the taxpayer/company/firm
3.Form 26AS: It is a summary of all the taxes that have been deducted from your income, such as TDS (Tax Deducted at Source).
4. Form 16: It is issued by your employer, which gives the details about the total salary + TDS deducted from it.
5. Investment and financial documents: If you have invested in shares, mutual funds, or fixed deposits, dividend statements, capital gains reports (if you have sold any assets), and interest certificates need to be attached.
6. Proof of other income: Other than your salary, if you have earned from different sources, such as from freelance work, rental income, or interest, you need to attach the documents, such as bonus receipts, interest certificates, rental agreements, and any freelance payment statements, to prove the same.
7. Deductions and tax-saving investments: To claim deductions under sections 80C - for investments in PPF, ELSS, etc., 80D - for insurance premiums, or 80G for the charitable donations, you need to attach the documents to prove the same.
8. Form 10E (If Applicable): If you have received salary arrears or any special bonuses, then you need to attach the Form 10E - it is used to claim tax relief for those payments under section 89(1) of the Income Tax Act, 1961.
9. TDS Certificates: If you have earned income from sources other than your salary, such as rent, interest, or professional fees, then your TDS might have TDS deducted. In this case, you need to attach the TDS certificates from those sources to show that tax has been deducted and deposited with the government.
10. Details of Foreign Income (If Applicable): If you have earned from abroad or own foreign assets, you need to disclose all the information in your ITR. Documents such as foreign bank statements, income certificates, or details of foreign investment are necessary to report this income correctly.
1. Aadhaar and PAN Card of the taxpayer and the company
2. Bank Statements of the taxpayer/company/firm
3.Form 26AS: It is a summary of all the taxes that have been deducted from your income, such as TDS (Tax Deducted at Source).
4. Form 16: It is issued by your employer, which gives the details about the total salary + TDS deducted from it.
5. Investment and financial documents: If you have invested in shares, mutual funds, or fixed deposits, dividend statements, capital gains reports (if you have sold any assets), and interest certificates need to be attached.
6. Proof of other income: Other than your salary, if you have earned from different sources, such as from freelance work, rental income, or interest, you need to attach the documents, such as bonus receipts, interest certificates, rental agreements, and any freelance payment statements, to prove the same.
7. Deductions and tax-saving investments: To claim deductions under sections 80C - for investments in PPF, ELSS, etc., 80D - for insurance premiums, or 80G for the charitable donations, you need to attach the documents to prove the same.
8. Form 10E (If Applicable): If you have received salary arrears or any special bonuses, then you need to attach the Form 10E - it is used to claim tax relief for those payments under section 89(1) of the Income Tax Act, 1961.
9. TDS Certificates: If you have earned income from sources other than your salary, such as rent, interest, or professional fees, then your TDS might have TDS deducted. In this case, you need to attach the TDS certificates from those sources to show that tax has been deducted and deposited with the government.
10. Details of Foreign Income (If Applicable): If you have earned from abroad or own foreign assets, you need to disclose all the information in your ITR. Documents such as foreign bank statements, income certificates, or details of foreign investment are necessary to report this income correctly.
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