WS Industries (India) Ltd. is planning to develop a modern logistics park and an integrated township at Sunguvarchatram in Sriperumbudur taluk, said Chairman S. Nagarajan.
The erstwhile manufacturer of porcelain insulators for electrical transmission lines, which expanded the infrastructure business, emerged as the successful bidder at an auction recently held by the Central Bank of India for 254 acres in Kancheepuram district. The total project outlay for land is about ₹107 crore.
“The company envisages a modern logistics park, and in consultation with architects, proposes to develop an integrated township with attendant infrastructure,” he said in the Chairman speech.
The land is situated in the prime industrial hub of Sriperumbudur, Sunguvarchatram and Oragadam, and is in close proximity to major multinational companies such as Samsung, Foxconn and Saint Gobain.
The acquisition came with approximately 150-acre pre-approved by State Government for light engineering and factory buildings. There is a huge requirement for MNCs to scale up their warehousing, he said in the annual report.
Besides, WSIL also entered into a joint venture with the Bengaluru-based Prestige Group for the development of IT/ITES parks in 6.53 acres of immovable property owned by it at Porur in Chennai.
On the infrastructure side, he said that the company had already bagged orders valued at ₹753 crore for integrated storm water drainage works, macro drain works, and civil constructions including an integrated bus terminal and a multi-utility facility centre pipe line projects.
For the year ended March 2023, the company posted a net profit after tax of ₹20 crore against a loss of ₹59 crore in the year-earlier period. Revenue from operations stood at ₹80 crore against nil in the previous year.
