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Simplex Projects Limited has informed the Exchange vide notes to Accounts in the unaudited financial results for the quarter and half year ended September 30, 2008 (taken on record by the Board of Directors of the Company at its meeting held on October 31, 2008) regarding the details of funds raised through IPO and utilisation of said funds. The details of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

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Corporate Notices

PANAJI- Urban Planning and Real Estate Leadership Summit honoured individuals and associations for their excellence and best practices in real estate and urban planning recently. Mr Som Mittal, president, Nasscom was the chief guest at the celebrated night at Taj Exotica. GIREM is a propriety event from Triple Tree Exhibitions and Sports Pvt Ltd.

The winners included CL Raheja (Lifetime Achievement Award), SIMPLEX Projects (Special Jury Award), Mr Arun Nanda of Mahindra (Person of the Year), DLF Universal (Company of the Year), Jones Lang LaSalle Meghraj (Real Estate Consultancy Firm), Ascendas (Company with Best Practice), DLF Emporio (Iconic Project), Magarpatta Township, Pune (Best Urban Development Project), Olympia Tech Park (Green Building), HDFC (Investor of the year), Asipac (Marketing Firm of the year), Phoenix Retail (Promising Future Company), L&T (Construction Firm of the year), Meinhardt (Engineering Firm of the year) and RSP Architects (Architecture Firm of the Year).

Mr Shyam Sundar, executive director, Triple Tree said: “GIREM awards, have been designed to recognise and appreciate leadership qualities in companies and people who make the difference as we march towards new development and a proud India.”

The jury follows a rigorous measurement based methodology to select the recipients in each nomination for leadership, innovation, excellence and best practices.

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The traffic department has blamed the showpiece automated parking plaza on Lindsay Street for the car crawl in and around one of the busiest festive shopping destinations in town.

Top police officers have requested the Calcutta Municipal Corporation (CMC), co-promoter of the Rs 32-crore Simpark, to look into the problem after cars lining up for an underground parking slot choked the length of Lindsay Street on Sunday. It was much the same on Wednesday, with cars having to wait as many as 20 minutes each for their turn on the hydraulic ramp.

The ripple effect on traffic around Lindsay Street left the traffic personnel on duty at the end of their tether.

“We first got a taste of it on Sunday, which was the start of the season of festive buying. Nothing moved along Lindsay Street for some time in the evening. We have spoken to the CMC and its partner (Simplex Projects Ltd) about the chaos,” additio18parkonal police commissioner K. Hari Rajan told Metro.

At 3.42pm on Wednesday, a Maruti Swift (WB 02U/9425) was third in a row of cars waiting to enter the plaza through the gate opposite Lindsay Hotel. The driver of the car, Biswanth Haith, switched off the engine after 15 minutes as the Simpark operators struggled to cope with the rush.

“It takes far less time to park along the road. Even the parking fee for an hour is less than the Rs 20 per hour that the plaza operators charge. My employer waited in the car for sometime and went shopping. I will probably still be in queue by the time he is back,” he said.

For drivers waiting to take their cars out of the plaza, the wait is just as long and frustrating. Depending on the car count on a given day, the waiting time is between 10 and 20 minutes. Cops fear it will get worse as the festive season peaks.

“There are four ramps to take the cars down and then come up with the ones that are to leave the parking lot. The waiting time increases when a ramp is returning with a parked car,” said an attendant at one of the gates.

Simplex Projects officials said the waiting time for each car was increasing because of the festive rush. “The queues you see are because this is the season for shopping. By January, we hope to start the fifth gate,” said Shantanu Banerjee, an official of the company.

Police have suggested that the hydraulic lifts be converted to electronic ones and the hawkers be removed. “I have asked the additional police commissioner to make suggestions that I will forward to the mayor,” said civic commissioner Alapan Bandyopadhyay.

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Simplex Projects is listed at antya.com as “Incorporated in the year 1990 as a Public Limited Company. The Registered Office at Calcutta is controlling Project Sites all over India. In a decade of its working SPL has emerged as a renowned civil engineering and construction company.The Company has procured a fleet of costruction equipment over this period.It got Listed in the Bombay and National Stock Exchange at Rs. 180 and the stock prices reached its peak at Rs. 480.”

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Simplex Projects, Integrated engineering and construction service provider, is
open for subscription with an initial public issue of 30-lakh equity shares of
Rs 10 each in the price band of Rs 170-Rs 185 through a 100 per cent book building
process. The issue closes on July 13. The net issue will constitute 25 per cent
of the fully diluted post issue paid up capital of the company. No more than 50
per cent of the net issue will be available for allocation on a proportional basis
to qualified institutional buyers. Five per cent of the QIB portion is for allocation
on a proportionate basis to mutual funds only. The remainder is for allocation
on a proportionate basis to QIBs and mutual funds. Further, not less than 15 per
cent of the net issue will be available for non- institutional bidders and not
less than 35 per cent of the net issue will be available for allocation on a proportionate
basis to retail individual bidders. The company has reported a profit after tax
of Rs 10.49 crore for the fiscal 2006-07 on a turnover of Rs 136.24 crore.

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The equity shares of Simplex Projects Ltd (Scrip Code: 532877) are listed and admitted to dealings on the Exchange in the list of ‘B1′ Group Securities.It listed in the market at 323 against the issue price of 180 rs.

The Stock can be tracked here : http://www.bseindia.com/price_finder/stockreach.asp?scripcd=532877

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Simplex Projects Ltd is entering into the retail car parking space and wants to sell semi-automatic car parking solutions to society-managed apartments and multiplexes.

The Rs 130-crore construction company, which specialises in automated multi-level car parking system, will soon put up model car parking space in four metros to showcase the semi-automatic technology it is getting from a Korean company.

Said Pradeep K Mishra, senior vice-president (finance & accounts), “We believe there is a market for retail car parking technology specially in cities where parking costs are gradually increasing. The technology will enable, say, four cars to be stacked up on one another.”

According to Mishra, monthly car parking fees in apartments at Nariman Point in Mumbai could be as high as Rs 15,000.

Mishra said Simplex, to begin with, would bring four prototype models from the Korean firm. “Once the technology transfer is over, we will start manufacturing the entire system in Kolkata.”

Simplex on Thursday signed a technology transfer agreement with EWW, a Dutch company, for a fully automated car parking system. It will sign another agreement with the Korean company for the technology transfer of the semi-automated parking system.

The money to fund these technology collaborations comes from the private placement of 14 lakh shares at Rs 70 per share to Enam Securities. “We are spending part of the proceeds on technology acquisition.”

Simplex Projects has created a fully-automated multi-level car parking system for 280 cars on built-own-operate & transfer (BOOT) basis for a period of 20 years at New Market, Kolkata.

The company is working with the Delhi Municipality Corp as a consultant for development of 11 car-parking zones. Simplex will develop another three zones itself.

The company is also planning for an initital public offer of 30,00,000 equity shares and plans to raise around Rs 50 crore.

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