Siemens India books ₹900 crore order for E&M contract for Pune Metro Line 3
New Delhi, India (Urban Transport News): Siemens India has announced financial positions of the company for the quarter ending December 31, 2021 and noted a 11.8 % increase over the same quarter in the preceding year. “For the first quarter of Financial Year 2022 ended December 31, 2021, Siemens Limited registered Revenue from continuing operations of Rs. 3,197 crore, a 11.8 % increase over the same quarter in the preceding year. New Orders from continuing operations stood at Rs. 5,300 crore, a 65.3% increase over the same period last year. The Company’s Order Backlog stands at a healthy Rs. 15,575 crore. Profit after Tax from continuing operations of Rs. 245 crore, decreased by 6.5% over the same period last year,” said official statement.
“All our businesses demonstrated very strong growth. New Orders booked in the quarter included approximately Rs 900 crore booked for the electrical and mechanical system works of the Pune Metro Rail Line 3 corridor from Hinjewadi to Shivajinagar. The Company is executing this order as part of a consortium, together with Siemens AG, Siemens Mobility GmbH and Alstom Transport India Limited. While Revenues were marginally impacted due to delays in offtake by customers on account of COVID-19 and supply chain challenges resulting from global shortage of semiconductors, profit was impacted due to continuing increases in commodity prices and lower Forex gains than in the previous year. However, we continue to be cautiously optimistic about the increase in demand across all our businesses,” said Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited.
On Union Budget 2022, Mathur commented, “We welcome the increased Capex outlay of Rs. 7.50 lakh crore. With the continued focus on driving infrastructure growth in the country, a commitment to energy transition and sustainability and a clear direction on adopting technologies of the future, the Budget is directionally consistent and represents steadiness, continuity and predictability in Government policy making.”
The 23.3-km Pune Metro Line 3 will be completely elevated and will have 22 stations and will align with the existing Pune Metro lines at the Civil Court. The construction will be taken up in two phases, the section between Hinjawadi and Balewadi is expected to be taken up first followed by the section between Balewadi and Civil Court, Shivajinagar. A metro car shed has been planned to built in Hinjawadi.