KITCO Achieves 19.19% Turnover Growth in FY18, Profits Up 11.62% – CORPORATE ETHOS

KITCO Achieves 19.19% Turnover Growth in FY18, Profits Up 11.62%

By: | November 8, 2018

Nov 8: After successful completion of CIAL, KITCO maintains 50% lower cost in KIAL too

KOCHI: KITCO Ltd, Kerala’s premier public sector technical consultancy organisation has achieved a 20% growth in turnover in 2017-18 at Rs 60.02 cr and profits rose 11.62% to Rs 9.34 cr.

Addressing a press meet here Mr Cyriac Davies, Managing Director, KITCO said that 138 projects in various sectors inclduing tourism, infrastructure, industrial and human resource development projects were undertaken during the year compared to 113 the previous year.

After the successful completion of International Terminal (T3) at Cochin International Airport at 50% lower cost compared to similar major airports, KITCO has been able to execute Kannur International Airport terminal also within the stipulated limit set by Airport Economic Regulatory Authority(AERA) at Rs 65,000 per square metre, Mr Cyriac Davies said. The total cost of the project is Rs 632 cr and total area of the terminal building inclusive of basement retail, day hotel space, ATC tower and other infrastructure is 10.82 lakh sq feet. KITCO had shot into the limelight with the successful completion and commissioning of Cochin International Airport (CIAL) has been able to successfully execute several airport infrastructure projects. The organisation is also empanelled under AERA (Airport Economic Regulatory Authority of India).

The challenge in implementing the Kannur airport terminal was the 35 metre difference between ground level and runway. The difference in levels were effectively utilised by providing utilities in the lower most level, and the arrival area in the next higher level and finally departure in the highest level. When an airport project becomes cost effective, tariff determination for various services will be reduced and in turn will lead to lower cost of travel, Cyriac Davies said.

Kannur Airport will be the first LEED Gold certified green airport in Kerala. KITCO is also providing project management consultancy expansion of existing Integrated Terminal Building at Mangaluru International Airport.

On a pan-India level, KITCO is working on many projects including strategic sectors like defence wherein KITCO is working for BEL, HAL, Air India etc for their critical mission projects. For BEL, KITCO is providing consultancy for setting up a defence system integration complex in Andhra Pradesh and for HAL, consultancy is being provided for setting up an aero engine research and development centre.

Among the key projects under implementation include the integrated water transport project in Kochi built by Kochi Metro Rail Ltd at a cost of Rs 747 cr, rejuvenation of public schools in Kerala under the Protection of Public Education (PPE) mission, consultancy services for three medical colleges at Kasargode, Manjeri and Idukki. KITCO is acting as a special purpose vehicle (SPV) on behalf of government of Kerala for setting up of sports infrastructure at various parts of the state with KIIFB funding assistance. KITCO has submitted documents to KIIFB and obtained approval for projects worth Rs 500 cr (for 34 projects) till date. Projects of around Rs 300 cr is under implementation and expected to be completed by 2019.

Mr Cyriac Davies noted that apart from establishing a pan India presence, the organisation has extended its services across the globe. It had recently bagged a project in Seychelles under EXIM Bank project to provide consultancy for super speciality hospital.