Kaushalya Infrastructure Development Corpn Ltd Company Summary

Kaushalya Infrastructure Development Corpn Ltd Summary

Kaushalya Infrastructure Development Corporation Limited was incorporated as R.M.S Exim Private Limited on June 4, 1992. Subsequently, the Company name was changed to Kaushalya Infrastructure Development Corporation Private Limited on November 5, 2001. In the very next year it was converted in to Public limited company. The Company is primarily engaged in executing construction contracts relating to infrastructure, real estate developments, acquisition and development, and sale of land. It is also engaged in operating hotels and also in trading of School Shoes & Bag. The Company was initially engaged in trading in textiles and in year 2001 decided to venture into the construction business. The company has completed 31 projects in the last 6 years and is currently engaged in 16 projects in the Eastern part of the Country. The Company has serviced many reputed clients AMR Construction Ltd. Punj Lloyd Ltd., Engineering Projects (India) Ltd., Power and Energy Department, Gangtok Sikkim, Tantia Construction Ltd., Balasore Alloys Ltd., Allied Infrastructure and Projects (P) Ltd., District Engineer, Purulia Zilla Parishad, Purulia PMGSY, National Projects Construction Corporation Ltd., (Top 5 customers of the Company for the quarter ended 30.06.07 and year ended 31.03.07 respectively)During the year 2008, the company came out with an IPO (Initial Public Offering) of 95 00 000 Equity Shares of Rs. 10 /- each at a premium of Rs. 50 /- aggregating to Rs. 57 Cr which subsequently, got listed on BSE & NSE on 14 December, 2007. Bengal KDC Housing Development Ltd, Kaushalya Nirman Pvt. Ltd., Kaushalya Township Pvt. Ltd., Orion Abasaan Pvt. Ltd. and Bengal Kaushalya Nirman Ltd. were made subsidiaries of the Company in 2008. Kaushalya Township Pvt. Ltd.. Kaushalva Nirman Pvt. Ltd.. Orion Ahasaan Pvt. Ltd. were formed to acquire land parcels in Rajarhat Area for development of housing complexes in conjunction with Bengal KDC Housing Development Ltd. A substantial portion of land was acquired through these companies during the year 2008. A Joint Venture agreement with the West Bengal Small Industries Development Corp. (WBSIDC) was signed on 24th July, 2007 for setting up a new SPV company for developing industrial parks and complexes in the state of West Bengal starting with an industrial park at Jhargram in Mindnapore district on land possessed by Kaushalya Infrastructure Dev. Corp. Ltd. The company is formed in March 2008, with equity share holding of 11% by WBSIDC and 89% of the Kaushalya and its associates.Bengal KDC Housing Development Ltd held 34,000 in Kaushalya Township Pvt. Ltd., hence Kaushalya Township Pvt. Ltd., became a step down subsidiary of Company. On July 1, 2015 Bengal KDC Housing Development Ltd had transferred 33,482 shares through sale to M/s Muilibuilt Properties Pvt. Ltd. and hence effective from July 1, 2015, Kaushalya Township Pvt. Ltd., was made an Associate of Company.