Nagarjuna Construction to pay 40 per cent dividend

Hyderabad: Nagarjuna Construction Company Ltd registered growth of 67 per cent in sales turnover and 73 per cent in net profit for the fiscal ended March 31, 2004.

The company registered a sales turnover of Rs 762 crore compared to Rs 458 crore in the previous fiscal, gross profit of Rs 62.89 crore (Rs 41.9 crore) and a net profit of Rs 31.57 crore (Rs 18.39 crore).

In a press release, the company said it has recorded an EPS of Rs 32.66 (Rs 19.46). The board has recommended an equity dividend of 40 per cent for the year under review, subject to the approval of share holders. The company has set a target of Rs 900 crore turnover for the current fiscal, said A.A.V. Ranga Raju, managing director.