Jaiprakash Associates Ltd is a diversified infrastructural industrial conglomerate in India. The company is the leader in Engineering and Construction of Hydropower projects in India. They are the only integrated solution provider for Hydropower projects in the country with a track record of strong project implementation in different capacities. The company is in the business of heavy civil engineering construction, expressways, cement, and real estate and hospitality. The company is engaged in the business of integrated engineering construction and operates at the locations of their clients and uses electric energy for implementation of various projects undertaken by them. They are also engaged in the business of manufacture and marketing of cement and own five star hotels at New Delhi, Mussoorie and Agra and a Golf Course with associated recreational and residential facilities at Greater Noida as part of their real estate business. Jaiprakash Associates Ltd, a part of the Jaypee Group was incorporated in the year in the year 1995 under the name Bela Cement Ltd. The company was promoted by Jaiprakash Gaur, a well known leader in the construction of multi-purpose river valley and hydropower projects. In the year 2000, Jaypee Rewa Cement Plant and Jaypee Bela Cement Plant were merged. In April 1, 2002, the cement division of Jaiprakash Industries Ltd was hived off and merged with the company. The name of the company was changed to Jaypee Cement Ltd. In the year 2003, Jaiprakash Industries Ltd was amalgamated with the company with effect from April 1, 2002 and the name of the company was changed from Jaypee Cement Ltd to Jaiprakash Associates Ltd with effect from March 11, 2004. Subsequently, the subsidiaries of Jaiprakash Industries Ltd, namely Jaypee Hotels Ltd, Jaiprakash Hydro-Power Ltd, Jaiprakash Power Ventures Ltd and Jaypee Karcham Hydro Corporation Ltd became the subsidiaries of the company. During the year 2003-04, the company completed the contracts such as Contract for civil and hydro-mechanical works of 300 MW Baspa-II Hydroelectric Project in Himachal Pradesh, Contract for construction of Pressure Shafts and Underground Power House Complex of the Prestigious 1,500 MW Nathpa Jhakri Hydro-electric Project in Himachal Pradesh and EPC Contract for 300 MW Chamera (stage II) Hydroelectric Project in Himachal Pradesh. During the year 2004-05, the company completed the work of concrete gravity Dam and 1,000 MW capacity surface Power House of Indira Sagar (Narmada), Hydro-electric Project in Madhya Pradesh. During the year 2005-06, the company completed the work of construction of Dam and Power House of 1,000 MW Indira Sagar (Narmada Sagar) Hydro-electric Project. They entered into joint venture with Government of Madhya Pradesh and formed a Special Purpose Vehicle, namely Madhya Pradesh Jaypee Minerals Ltd, for development of Amelia (North) Coal Block in Sidhi (MP) at an investment of Rs 400 crore. In June 2006, Jaypee Greens Ltd merged with the company with effect from April 1, 2005. During the year 2006-07, the company completed the contracts such as, Dul-Hasti Hydroelectric Project (390 MW) in Jammu & Kashmir, Vishnuprayag Hydroelectric Project (400 MW) in Uttarakhand, Tehri Hydroelectric Project (1,000 MW) in Uttarakhand, Sardar Sarovat Hydroelectric Project (1450 MW) in Gujarat and Tala Hydroelectric Project (1,020 MW) in Bhutan. Thus, they completed the projects with power generation capacity of 4,260 MW. In October 5, 2006, Jaypee Powergrid Ltd was incorporated as a subsidiary of Jaiprakash Hydro-Power Ltd for transmission of energy from Karcham Wangtoo Hydro Electric Project of 1000 MW at Kinnaur in Himachal Pradesh from Wangtoo to the interconnecting point with the northern grid at Abdullapur, Yamunanagar, Haryana. In April 5, 2007, the company incorporated Jaypee Infratech Ltd as a wholly owned subsidiary for implementation of Taj Expressway Project comprising 165 KM 6/B lane access controlled Expressway connecting Noida & Agra and related activities including development of land and in April 11, 2007, they incorporated Bhilai Jaypee Cement Ltd in Chhattisgarh as a joint venture with Steel Authority of India Ltd. In May 25, 2007, the company incorporated Himalyan Expressway Ltd as a wholly owned subsidiary for implementation of 27.14 km long Zirakpur- Parwanoo Road Project in the States of Punjab, Haryana and Himachal Pradesh on BOT basis. During the year 2007-08, the company completed the contracts, namely Teesta- V Hydro-electric Project (510 MW) in Sikkim, Omkareshwar Hydro-electric Project (520 MW) in Madhya Pradesh and construction of civil works of Zone-III Laole-Quazigund Section of Katra-Baramullah Railway Line in J&K. Also, they handed over the 390 MW Dulhasti Hydro Electric Project in the State of Jammu & Kashmir to NHPC. They commissioned the Wind Turbine Generators with an aggregate capacity of 49 MW (40.25 MW in Maharashtra and 8.75 MW in Gujarat). During the year, the company signed an agreement with Gujarat Mineral Development Corporation Ltd for setting up a 2.4 MTPA cement plant in Gujarat through a Special Purpose Vehicle, namely Gujarat Jaypee Cement & Infrastructure Ltd. Also, the company along with the affiliates acquired 74% equity shares in JPSK Sports Pvt Ltd. In March 2008, the company commissioned the phase I of Chunar and Dalla Cement Plants in UP and Grinding Unit at Panipat in Haryana. In April 23, 2008, the company incorporated a subsidiary namely Jaypee Arunachal Power Ltd to put up a Power Project in joint venture with Government of Arunachal Pradesh. During the year 2008-09, Jaypee Hotels Ltd, Jaypee Cement Ltd, Jaiprakash Enterprises Ltd and Gujarat Anjan Cement Ltd were amalgamated with the company with effect from April 1, 2008. The company acquired Bina Power Supply Company Ltd, which was incorporated to set up 1250 MW (two phases of 625 MW each) coal fired Thermal Power Plant at Bina in Madhya Pradesh. The company through their subsidiary, JPSK Sports Pvt Ltd targets to host the very first F1 Race in India in the year 2011. During the year, the company completed the work of 450 MW Baglihar-I Hydroelectric Project in J & K State. They commissioned their Cement Plant at Dalla and Sidhi and Grinding Facilities at Sevagram. In August 2008, the company signed four MoU with Madhya Pradesh Government to invest Rs 13,000 crore for setting up two cement manufacturing units, an aluminium production factory and a power plant for generating power. The power generation from these units would commence from 2011-2012. In addition, the company entered into an MoU with Government of Chhattisgarh for setting up a cement plant of 2 MTPA, Clinker plant of 1.5 MTPA & a captive power plant of 25 MW in Chhattisgarh. They also entered into another MOU for, setting up an integrated aluminium complex and a captive thermal power plant in Rewa. In February 2009, the company received letter of intent from Sangam Power Generation Company Limited for setting up of 2 x 66O MW Super Critical Technology - Karchhana Thermal Power Project at Allahabad, with approved coal linkage. In May 14, 2009, MP Jaypee Coal Ltd was incorporated as a joint venture with Madhya Pradesh State Mining Corporation Ltd for mining and sale of Coal from Dongri Tal-II Coal Block at Singrauli in Madhya Pradesh. During the year 2009-10, the company commissioned three new cement plants with aggregate capacity of 4.4 MTPA and their clinker manufacturing unit in Himachal Pradesh. The three new cements plants were Wanakbori (1.2 MTPA), Gujarat; Bagheri (2 MTPA), Himachal Pradesh and Roorkee (1.2 MTPA) Uttarakhand. Also, the company in joint venture with SAIL commissioned the cement plant of 2.2 MTPA capacity ahead of schedule (Units in Madhya Pradesh & Chattisgarh). In May 14, 2009, Madhya Pradesh Jaypee Coal Ltd (MPJCL) was incorporated as a joint venture with Madhya Pradesh State Mining Corporation Ltd (MPSMCL) for mining and sale of Coal from Dongri Tal-II Coal Block at Singrauli in Madhya Pradesh. In January 4, 2010, Madhya Pradesh Jaypee Coal Fields Ltd (MPJCFL) was incorporated on as a joint venture with Madhya Pradesh State Mining Corporation Ltd (MPSMCL) for mining and sale of coal from Mandla (South) Coal Block in District Chhindwara (MP). During the year 2010-11, the company completed the Civil and Structural works of Clinkerisation Unit at Satna and Grinding Unit at Bhilai of Bhilai Jaypee Cement Ltd, Civil and Hydro-mechanical works of 450MW Baglihar (Stage-I) Hydroelectric Project in Jammu & Kashmir and the construction of Drains in Parikarma Marg area for the project water drainage for Varindavan Town, Distt. Mathura. Also, the company submitted application for Prequalification for Head Race Tunnel and Power House Complex (Dibang Lot:4) of 3000MW Dibang Multipurpose Project in Arunachal Pradesh and Development of Food Parks at Bhopal/ Ratlam/ Harda in Madhya Pradesh and is expected to be qualified for the Projects. In Cement division, the company successfully commissioned their 2nd Unit at Sewagram, Gujarat (1.2MTPA) and 2nd Grinding Facilities at Wanakbori, Gujarat (1.2MTPA). During the year under report, erstwhile Jaypee Karcham Hydro Corporation Ltd (JKHCL) and Bina Power Supply Company Ltd (BPSCL) were amalgamated with Jaiprakash Power Ventures Ltd (all the three were subsidiaries of the company) with effect from the appointed date, April 1, 2010. In February 19, 2011, the company acquired Jaypee Cement Corporation Ltd. In July 2011, the company was awarded two contracts by Punatsangchhu-II Hydroelectric Project Authority, Bhutan for construction of following pertaining to 990 MW Punatsangchhu II Hydroelectric Project. The company is expanding their Cement Production Capacity to 30.75 MTPA. An additional capacity of 4.3 MTPA is being added through Joint Ventures with Steel Authority of India Ltd (SAIL) taking the Group`s total capacity to 35.05 MTPA by 2012 which shall further strengthen Jaypee Group`s position of being the 3rd largest Cement producing group in India. The company decides to demerge company`s Cement Plants in Gujarat & Andhra Pradesh and their other units viz. Asbestos Sheet Plants, Heavy Engineering Workshop & Hi Tech Casting Centre / Foundry into their wholly owned subsidiary, namely, Jaypee Cement Corporation Ltd.