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Marg Construction MoU with Malaysian company

October 25, 2007

Karaikal Port, a wholly owned subsidiary of Marg Construction has entered into a MoU with Pembinaan Redzai Sdn Bhd (PRSB), a leading Malaysian company engaged in management and operation of forest plantations, logging, saw milling, chipping and other downstream manufacturing and related activities. PRSB also undertakes civil engineering and construction works and project management services in Malaysia.

Meanwhile, New Chennai Township, its another wholly owned subsidiary has got regulatory nod for setting up a special economic zone for light engineering sector.

The current price of Rs 223.50 discounts Q1 June 2007 annualized EPS of Rs 17.86 by a P/E multiple of 12.51.

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