Other Data (Operations, Litigation & Compliance etc.): (Official use only)

Company Profile:

§         Bhagheeratha, founded in the year 1976, is today, a name synonymous with innovation and excellence in civil engineering & construction.

§         It is billed as one among the premier multi-divisional corporate conglomerates in the industry of engineering construction companies in India, the Bhagheeratha network spreads across the entire country and the Middle East.

§         The company has its registered and head office in Kerala with 4 regional offices at Delhi, Mumbai, Guwahati & Jabalpur and a presence All over India.

§         At the time of formation in 1976 the company had a capital base of Rs. 3 million (US$ 0.065 million) which has now increased to a turnover of Rs. 1850 million (US$ 40 million)  

§         An IS0 9002 Certified company has employee strength of 1047 at various project sites.

§         The company has expertise in construction, maintenance and repairs of:

1.        Roads and high ways

2.        Bridges

3.        Dams

4.        Irrigation canal

5.        Tunnels

6.        Turnkey projects

7.        Pipelines

8.        Power transmission

9.        Structural & erection works thru its subsidiary companies.

§         The projects handled recently by the company.

1.        Etawah IC –Project a joint venture with PATI, Malaysia.

2.        Kerala State Transport Project - repair and maintenance work of Kerala state.

3.        Kerala State Transport Project - upgradation of feeder canals.

4.        Sultanate of Oman - road construction work

5.        Narmada main canal,

6.        Doyang Dam, Nagaland

7.        Konkan Railway Tunnels

§         Quality - Quality, customer delight and goodwill are not only a mere obsession but also a way of life in Bhagheeratha. In consonance with this policy, Bhagheeratha is currently implementing Total Quality Management (TQM). They are one of the very few Indian companies in the Civil construction field who have acquired ISO 9002 certification from M/s Det Norske Veritas(DNV), Netherlands.

§         Recognition - They have also won several National Awards for our expertise and excellence in Quality Construction. We were awarded "THE NATIONAL AWARD FOR CONSTRUCTION OF THE MOST OUTSTANDING BRIDGE, five times in 1992, 1996 1998 and 1999 (2 awards). They have also won the coveted Government of India EEPC awards several times for our excellence in project exports.

Bankers:

§         State Bank of India (Kaloor Commercial Branch, Kerala State)

§         Union Bank of India (Panampilly Nagar Branch, Kerala State)

§         Syndicate Bank (Perumanoor Branch, Kerala State)

§         Dena Bank (M.G. Road Branch, Kerala State)

Proposed Business Interest with Taiwan company:

§         Interested and Open to offloading 70 – 75% equity/stake in the company to a foreign investor for an asking price of approx. US$ 15 million.

·         According to Prof. M D Nalapat, Professor of Geopolitics & UNESCO Peace Chair, Manipal Academy of Higher Education (personal friend and advisor to the company) and officials of Bhageeratha Engineering Ltd. in the last few years main thrust has been given to construction activities in the infrastructure sector – especially in roads, power, ports, etc. Also in the energy sector both National Hydro Power Corporation and national Thermal Power Croporation are planning to increase power production to promote manufacturing and business potential in India.

·         Considering the lucrative Indian infrastructure sector, Mr. Sunny C Madathil, Managing Director, Bhageeratha Engineering Ltd. is keen to expand and increase the working capital of the company so as to enable Bhageeratha to undertake bigger projects and contracts and utilize existing infrastructure, equipments and facility to optimum capacity.

·         He would like to raise the working capital through a foreign equity partner which would give an advantage to the foreign company to enter the burgeoning Indian markets.

·         A takeover by a Taiwan company would enable it to acquire a lot of Government construction tenders since this said Indian company has already acquired permissions and sanctions to operate such deals.

·         Bhageeratha has many types/classes of Registrations with various Indian authorities like Public Work Departments of various state departments, Indian railways, Refineries, Port trusts etc. The class being A, AA, Special Class, SV, Super Class, Grade 1, Highest etc. to operate and execute government tenders.

·         Hudson Fairfax (www.hudsonfairfax.com), an USA investment company is dealing on behalf of Bhageeratha Engineering Ltd. through their Managing Partner, Mr. Armeane Choksi by taking up their cause and promoting this venture of inviting investment or equity partners.

·         Bhagheeratha's corporate vision envisages it to be a Rs. 5.5 billion (US$ 120 million) global company by the year 2006.