The last month of the fiscal 2009-10, saw a record number of projects contracts being awarded. In March, 117 contracts worth Rs 45,597.57 crore were bagged by Indian companies. This was the highest number of contracts finalised in a month in the last two years. Whether this is an indication of revival in investment activities or just a one month phenomenon we will have to wait and watch.

Amidst the shivers of the economic downturn, the January-March quarter of 2009 saw only 155 contracts worth Rs 53,588.59 crore being bagged by Indian companies. In contrast, the January-March quarter of 2010 however saw a large total of 282 contracts with an aggregate value of Rs 91,555.06 crore being cornered by Indian companies.

Further, the month of March not only saw a record Indian contracts being awarded, but the 16 foreign contracts bagged by Indian companies were also the highest in the recent past.

Patel Engineering bagged the largest foreign contract of the month. The company earned a contract worth Rs 4,500 crore to develop an integrated township in Port Louis, Mauritius which involved construction of tourist heritage centre, apartment complex, office building, shopping malls, entertainment hub, marine garden etc. The five prominent sectors that ruled the month were Electricity, Real Estate, Petroleum Products, Roadways and Metallurgy.

In the Power sector, 30 contracts worth Rs 19,425.26 crore were awarded. BHEL clinched two contracts valued at Rs 5,778 crore from Elena Power & Infrastructure for design, engineering, manufacture, supply, erection and commissioning of steam turbines, generators and boilers for projects at Nashik (5x270 MW) and Amravati (5x270 MW). The Jammu & Kashmir Government gave away a contract to GVK Developmental Projects worth Rs 5,000 crore. The scope of work involved developing a 690-MW Ratle hydro electric power project on the Chenab river in Kishtwar district. BHEL also bagged a contract from Indian Oil Corporation (IOC) for setting up 376 MW captive power plant at the upcoming Paradip Refinery project in Orissa. The contract was worth Rs 3,348 crore.

Larsen & Toubro won two major contracts in the Petroleum Products sector. The first worth Rs 2,035 crore was given by ONGC Mangalore Petrochemicals for an aromatics complex at Mangalore SEZ while the second contract worth Rs 1,400-crore was from IOC for setting up a Fluidised Catalytic Cracker reactor regenerator project at Paradip refinery in Orissa.

The Roadways sector saw nine projects being awarded amounting to Rs 3,587.46 crore. The NHAI awarded a contract valued at Rs 1,000 crore to a consortium of JMC Projects (India) and SREI Infrastructure for construction of a four-lane highway between Rohtak to Bawal section in Haryana. A Rs 670-crore project was won by Ramky Infrastructure from IL&FS Transportation Networks. It included widening of 2/4 lane highway between Moradabad and Bareilly (chainage 148 km - 190 km), Uttar Pradesh.

Larsen & Toubro once again, emerged as the company to bag the highest number of contracts. The engineering giant captured 24 contracts including three overseas worth Rs 9,558.1 crore. It won projects across sectors like Power Distribution, Metallurgy, Hospitals, Water & Waste Management etc. The company secured a contract worth Rs 1,013 crore from ONGC for Mumbai High North project and a Rs 627 crore contract from HLL Lifecare for Jawaharlal Nehru Institute of Postgraduate Medical Education and Research, Puducherry, involving construction of a 400-bed women & children hospital including hostel complex, teaching block.