aiprakash Associates Ltd (JAL),the flagship of the Jaypee Group, is the second largest engineering and construction (E&C) company in India. It is also the country’s leading low-cost cement manufacturer in the lucrative northern region. The company is poised to become India’s largest private hydro power generator on a build-own-operate (BOO) basis. A favourable business outlook, coupled with strong E&C order book and profitable investments in subsidiaries, makeJAL an attractive investment idea.
Company Background
The Jaypee Group is a well-diversified infrastructural industrial group with a turnover of over Rs 3000 crore. The group began as a partnership firm in 1972 under the name Jaiprakash Associates. It is engaged in E&G, construction, cement, private hydropower, road projects and hospitality. The group, which has over 25,000 employees, is managed by a professional team backed by a competent technical cadre.
Major Divisions
JAL operates in two segments – E&C and cement. While the engineering business contributes 64% to total income, the cement business accounts for 35%.
Engineering and Construction (E&C) Division
JAL’s E&C division operates mainly in the niche areas of river valley and hydro-power projects. It is an acknowledged leader in constructing multi-purpose river valley and hydropower projects and has been involved in major engineering works.
Over the years, JAL has successfully completed several projects, both in India and abroad, as an engineering, procurement and construction (EPC) contractor. It has earned a reputation of completing projects in a time-bound schedule. It has acquired abundant tunnelling experience (a very complex operation) in the tough Himalayan terrain. JAL’s main clients include state and central government bodies like NHPC, SPVs like Satluj Jal Vidyut Nigam Ltd and Narmada Hydroelectric Development Corporation Ltd.
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