Dear Stakeholders,
I am pleased to share an update on our progress and strategic direction amidst a
transformative period for our infrastructure sector. As we reflect on the advancements
made and challenges faced, it is clear that our commitment to innovation and resilience
remains pivotal.
The National Highway (NH) network has witnessed a remarkable expansion, growing by 60%
from 91,287 km in 2014 to 1,46,145 km in 2023. This growth highlights the government's
dedication to improving connectivity and infrastructure across the country. In alignment
with this expansion, the National Highways Authority of India (NHAI) has identified 53
highway projects valued at Rs. 2.1 trillion to be developed through the
Build-Operate-Transfer (BOT) model. This significant shift in resource generation strategy
marks a new era of infrastructure development, focusing on leveraging private sector
expertise while balancing fiscal responsibilities.
Approximately 5,214 km of high-traffic road stretches set to be developed under the BOT
model. Notably, Maharashtra will see the highest number of BOT projects, with 14 projects
spanning 522 km at an estimated cost of Rs. 39,477 crore. Uttar Pradesh will follow with
six projects covering 1344 km at a cost of Rs. 50,333 crore. These projects represent
significant opportunities for us to contribute to the nation's infrastructure growth. Our
company is poised to play a crucial role in this transformation envisaged by the
Government.
At a standalone level, we reported a Revenue from Operations of Rs. 225.00 million
compared to Rs. 894.14 million in the previous year. Our Net Loss increased to Rs.
5,621.14 million from Rs. 3,575.48 million last year. On a consolidated basis, Revenue
from Operations was Rs. 7,788.89 million, down from Rs. 8,247.27 million, with a
Consolidated Net Loss of Rs. 5,332.50 million compared to Rs. 3,649.15 million previously.
While these figures reflect the challenging environment, they also underline the need
for strategic realignment and operational efficiency. We are committed to navigating these
challenges and positioning ourselves to capitalize on future opportunities.
Routine inspections and maintenance are integral to ensuring road safety and longevity.
By addressing issues proactively, we demonstrate our commitment to the well-being of
communities and the enhancement of infrastructure quality.
At SIPL, we adhere to the best practices in environmental stewardship, safety, and
service excellence. The best practices include implementing rigorous environmental
conservation efforts, adopting eco-friendly construction materials, and employing
technologies that minimize carbon footprints and resource consumption. By managing
efficient mobility, we aim at reducing pollution, and ensuring that our projects harmonize
with natural ecosystems. Safety practices involve the strict enforcement of safety
protocols and standards to protect workers, stakeholders, and the public. This includes
regular safety training, comprehensive risk assessments, and the use of advanced safety
equipment. We also continuously engage with communities and stakeholders to address their
needs and concerns to foster trust and satisfaction.
As we move forward, our focus will be on strengthening our operational capabilities,
embracing innovation, and expanding our project portfolio. We remain dedicated to driving
excellence and delivering infrastructure that meets the highest standards of quality and
sustainability.
I extend my sincere gratitude to our dedicated employees, valued partners, and
stakeholders for unwavering support and collaboration. Together, we will continue to build
a legacy of excellence in infrastructure development.
Thank you for your continued trust and partnership.
Regards,
Shashin V. Patel
Chairman & Whole Time Director.