GAMMON INDIA LIMITED

Overview
SUMMARY OF BUSINESS
We are the flagship company of the Gammon group and are one of the oldest civil engineering and construction
companies in India. We believe that we are one of the largest contractor and developer of infrastructure projects
in India. Our operations are divided into our engineering, procurement and construction (“EPC”) and
construction business, infrastructure development business and international business. We provide construction
services in areas such as transport engineering, power transmission and distribution, energy, environment and
pipelines, hydroelectric power structures, hydraulic and irrigation, and industrial structures and buildings. Our
Company was incorporated in 1922 by John C. Gammon and was listed on the BSE in 1962 and the NSE in
1996. We undertake the development of projects as a developer in addition to providing services as a contractor.
For the year ended March 31, 2009, we had total consolidated revenues and profit after tax of Rs.52,121.81
million and Rs.648.42 million, respectively.
Our EPC and construction business comprises the following areas:
transport engineering, where we undertake the design and construction of roads, bridges, metros,
flyovers, ports and airports;
power transmission and distribution, where we undertake the design, engineering, erection, testing and
commissioning of transmission and distribution lines, substation and overhead lines, project
electrification, rural electrification and system improvement projects;
energy, where we undertake the engineering and construction of nuclear power, thermal power, hydro
electric power and non-conventional power plants;
environment and pipelines, where we undertake the construction and design of water treatment plants,
cross-country oil and gas pipelines and water supply projects;
hydroelectric power structures, where we undertake the construction of structures for hydroelectric
power plants, such as dams, powerhouses, surge chambers, intake structures, and head race tunnels;
hydraulic and irrigation, where we undertake the engineering, design and construction works for dams,
tunnels, irrigation pipes and hydraulic structures; and
our industrial structures and buildings, where we undertake the construction of multi-storey buildings,
residential, commercial and hospitality and other industrial structures.
We are also involved in the development of Build-Operate-Transfer (“BOT”) projects in infrastructure and other
infrastructure development projects through our subsidiary Gammon Infrastructure Projects Limited (“GIPL”),
of which we currently, directly and indirectly, hold 76.23%. GIPL, listed on the BSE and the NSE, undertakes
projects on a public private partnership (“PPP”) basis and its current portfolio of projects consists of 19 projects
in the roads, bridges, ports, hydroelectric power and biomass power sectors, of which, four are in the operations
phase, 10 are in the development phase and five are in the pre-development phase. GIPL also offers services in
other areas of project development, such as project advisory services, project funding and operations and
maintenance (“O&M”).
Through our international operations, we focus on power equipment manufacturing and oil and gas exploration
around the world. During the year ended March 31, 2009, we completed a number of acquisitions in the power
equipment manufacturing sector, which has a limited number of players and high barriers to entry. We acquired
substantial stakes in a few European companies: (i) Sofinter S.p.A. (“Sofinter”, together with its subsidiaries,
the “Sofinter Group”), an integrated group of companies that is engaged in the manufacturing of industrial
boilers, power utility steam boilers (including Heat Recovery Steam Generators (“HRSGs”)), EPC related to
power utilities and research and development of flameless technology using waste and low grade coal with zero
carbon emissions and (ii) Franco Tosi Meccanica S.p.A. (“FTM”), a manufacturer of steam and hydro turbines
for power utilities. Our erstwhile associate company, Associated Transrail Structures Limited (“ATSL”),
engaged in the business of design, supply, erection and commissioning of power transmission lines and rural
electrification schemes, amalgamated with our Company, effective from July 7, 2009, with an appointed date of
April 1, 2008. Subsequent to this amalgamation, S.A.E. Power Lines S.r.L. (“SAE Powerlines”), a company
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