Infrastructure and Projects
The Company has amended its Memorandum and Articles of Association of the Company for entering into new line of business i.e. development of infrastructure projects. The Company has already entered into agreement for its first project “Tech-Park” which shall be ready for lease to Software/IT Companies in the last quarter of the financial year 2008 – 2009. The Company hopes to earn a tax free income of about RS. 18.00 crores per annum from this venture alone. The Company shall derive various advantages as envisaged under the Scheme of Central Government for development of Soft ware Technology Parks such as tax free holiday and various other incentives thus improving its income and profitability to a considerable extent. The Tech-park project is expected to be operational in the current financial year.