FY16 AR is out.
Below is the extract of management discussion and analysis.
i) Nesco IT Park:
Income for the year was
12,046.02 lakhs (previous year 9,067.36 lakhs), an increase of
Your Company has started construction of IT building 4, having built up area of approx. 17,00,000
sq. ft. The building is pre-certified Platinum rated under the LEED India for Core & Shell rating
system from the Indian Green Building Council. IT buildings 1, 2 and 3 are fully occupied by well
renowned companies. Hall 3 provides Incubation Centre and Child Care Centre for children of employees working in Nesco IT Park.
ii) Bombay Exhibition Centre:
Income for the year was
11,183.36 lakhs compared to 8,586.27 lakhs in the previous year, an
increase of 30.25%.
During the year 156 exhibitions and conventions were held in our Centre, out of which 33 were new
organizers. Some of the new clients include Infinity Exhibitions & Conferences Pvt. Ltd., JP Morgan
Services India Pvt. Ltd., V-Rock Entertainment Agency, Dalit Indian Chambers of Commerce &
Industry (DICCI), New Media Communication Pvt. Ltd. and Artisians & Weavers Welfare Association.
The Maritime Exhibition organized by Ministry of Shipping held in April 2016 in Bombay Exhibition
Centre was inaugurated by Indian Prime Minister Mr. Narendra Modi when Chief Ministers of
Maharashtra, Gujarat, other states and several foreign and national dignitaries were present. This
exhibition has attracted large investments.
Our Centre continues to bring large number of visitors and tourists from out of City, State and
iii) Nesco Hospitality Private Limited:
Nesco Hospitality Private Limited, wholly owned subsidiary of your Company, has earned revenue
222.75 lakhs as compared to 6.10 lakhs during the previous period.
The Company has started food court services within our Nesco Complex with leading international
and national food brands and is targeting to cater the growing demand of quality food services
from the exhibition organizers, exhibitors, visitors and employees working in Nesco IT Park. Your
Company is taking steps to establish a large world class kitchen, construction is expected to start
in later part of this year.
In the year under review, Indabrator income was
2,501.74 lakhs (previous year 1,790.92
lakhs), an increase of 39.69%
2015-16 showed some progress in the capital goods industry. A number of projects which were
deferred in the previous year were completed in the current year. Your Company has recently won
several large contracts. Company has decided to expand its machine building division at its Visholi
Complex, Gujarat, construction for which is expected to start in Q4 of this year.
Income from investments and other income was
1,605.27 lakhs (previous year 2,827.33 lakhs).
Your Company had no debt as on 31 March 2016. Company’s liquid resources (fixed maturity plans,
mutual funds, cash & bank balances) increased by 6.59% to
41,439.01 lakhs from 38,878.07
Your Company has neither accepted any deposits from the public during the year nor are any
deposits outstanding for repayment.