basil infrastructure projects ltd Management discussions

1BASIL INFRASTRUCTURE PROJECTS LIMITED ANNUAL REPORT 2010-2011 MANAGEMENT DISCUSSION AND ANALYSIS REVIEW OF OPERATIONS: Your Company has earned a Gross Revenue of around Rs 78.92 Lakhs during the previous year. FUTURE PROSPECTS: Your Company has participated in the Joint Venture as FSCM for setting up two hotel Projects in Hyderabad and the hotel Projects are in the Construction stage. The Company is required to raise capital for the equity contribution of the Company in the hotel projects. Your Company is also exploring various opportunities to develop infrastructure and hotel projects under Public Private Participation (PPP) mode in collaboration with other developers in India. Looking into the market conditions, it is anticipated that the Company will start the development work in the financial year. PROJECT STATUS OF JOINT VENTURE: Golden Jubilee Hotels Limited a joint venture Company incorporated for the development of two prestigious hotel projects namely Trident and The Oberoi near Shilpakalavedika, Madhapur, Hyderabad. The approvals/ clearances as required from various authorities for the implementation of the projects have also been received. Your Directors are pleased to report that almost 90% of the civil construction work on the Trident project has been completed with considerable progress on the procurement and installation of the Plant & Equipment. Simultaneously, the finishing work has also commenced with finalization of all the interior design development work with review and approval of the Mockup Rooms during the year. The civil work on The Oberoi nearly 55% of the total core and shell has been completed. All contracts for the MEP Services have been awarded and the design development work of various consultants including the interior design is in progress.