AHLUWALIA CONT IND Share price

The corporate history of Ahluwalia Contracts (India) Ltd(ACIL) dates back to 1979 when Mr. Bikramjit Ahluwaliapromoted Ahluwalia Contracts (India) Private Ltd. ThisCompany took over the running business of four partnershipfirms in July 1979 The firms taken over were:(1) Ahluwalia Construction Co. Group II (1965)(2) Ahluwalia Construction Co. Group III (1972)(3) Ahluwalia Construction Co. Group V (1977)(4) Ahluwalia Construction Co. Bihar Works (1978)These firms were set up between 1965 and 1978 and wereengaged in construction business.Hence although the corporate history of AhluwaliaContracts (India) Limited dates back to 1979 when theCompany was initially incorporated as a private limitedcompany yet the real base for its construction operationsand reputation of Ahluwalia Group in construction industrywas built up as early as 1965 with the formation of firstpartnership firm under Ahluwalia Construction Group.Ahluwalia Contracts (India) Private Limited obtainedCertificate of Incorporation on June 02 1979 from Registrarof Companies Delhi and Haryana New Delhi. In 1989 theCompany became a deemed public limited company in terms ofSection 43-A of the Act by virtue of its high turnover. In1992 the Company was converted into a Public LimitedCompany by passing a Special Resolution on 23.12.92 bydeleting the clause contained in section 3 (i)(iii) of theCompanies Act 1956 from its Articles of Association.In the same year ie. 1992 Ahluwalia Contracts (India)Ltd (ACIL) jointly With Mr. Bikramjit Ahluwalia formedAhlcon Parenterals (India) Limited marking ACIL''sdiversification into the pharmaceutical sector. AhlconParenterals (India) Ltd has set up a project to manufactureIntravenous Fluids (IV Fluids) with an installed capacityof 14 million bottles p.a. and started commercialproduction in May 1994. The Project was appraised by IFCIand mainly funded by Foreign and Rupee Term Loansaggregating Rs.650 lacs and Equity Capital of Rs.720 lacs.PRESENT BUSINESS OF THE COMPANYAhluwalia Contracts (India) Limited (ACIL) has been engagedin the business of construction covering large constructionprojects such as industrial institutional hospitalshotels residential and group housing projects. Besidesundertaking construction contracts the Company is engagedin real estate development.Over the years the Company has built up a team ofprofessionally qualified personnel with hands-on experiencein their respective fields to undertake large projects. TheCompany also employs required number of experiencedtechnicians skilled semi-skilled and unskilled workmen onits projects to ensure proper execution of contracts.The Company has adequate construction equipment withtechnical infrastructure at disposal to undertake largemulti-site construction projects. It also has a wellequipped central workshop and storage facility located onPlot No. 39-40 Andheria Moade Chhatarpur Delhi. Besidesrepairs and maintenance facilities the site housesworkshops for bar-bending welding iron-frame work andalso for making of door and windows and carpentry joinary.As regards storage facility the site houses equipment andmaterials rendered surplus generally after completion of aproject and pending allocation to other projects. Besidesthe site also functions as a central store for all sitesfor bulk purchases.Besides this each project site is also equipped withstorage and site-workshop facilities to ensure promptavailability of required construction materials and sparesand servicing of equipment at sites. Professionallyqualified and experienced personnel and Well developedtechnical infrastructure facilities of the Company ensureconstruction quality and time-bound implementation ofprojects - key factors for success in the constructionindustry. The past experience and technical strengths ofthe Company have placed the Company in a position toundertake multi-site construction projects of even largermagnitude than in the past.The Company is well equipped to provide a diverse range ofconstruction services such as:-* Construction of buildings of highly intricate nature withhigh quality finish.* Construction of high-rise multistory buildings as well aslow-rise housing township development projects.* Construction of large institutional complexes.* Construction of five star hotels.* Construction of power houses.* Construction of overhead as well as underground watertanks and reservoirs.* Construction of sewerage and drainage works.* Prestressed and precast elements of large spans.* Fabrication and erection of heavy steel structures.* Industrial projects involving heavy fabrication anderection.