Photo by Lone PrimateA new project, Yamuna Expressway is introduced by Jaypee in the northern state of Uttar Pradesh which is a 165-kilometer, six-lane expressway. This project has a total cost of 2 billion dollars. It connects Noida, near Delhi with city of The Tajmahal, Agra. Realty of about 25 million sq ft. along the expressway is being planned by the company. Mr Manoj, Chairman of Jaypee Group told the media that although the expressway will be started in phases from November onwards, it will generate toll revenues in FY12 only.
Revenue of 100 billion is planned to be generated by 2015/16 by the firm. This fiscal, they saw a revenue of Rs. 25 billion, all from real estate sales. The managers to the Jaypee Issue were Bank of America-Merrill Lynch, SBI Capital Markets, Kotak Mahindra Capital, IDFC Capital, ICICI Securities, Morgan Stanley India, Axis Bank, JM Financial, Enam Securities.
In March, on the last day of the offer at the bottom of the price range, a share sale of $2.2 billion in state-run miner NMDC was covered. ($1=47 Indian rupees)