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* - Tentative Dates
The Company proposes to utilize the net proceeds from the issue towards funding the following objects:
VSF Projects Limited's revenue decreased by -84.34% and profit after tax (PAT) rose by 245352.78% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 91.24 | 67.22 | 65.57 | 65.57 |
| Revenue | 0.26 | 1.63 | 1.65 | 1.74 |
| Profit After Tax | 35.35 | 0.01 | -0.08 | 0.15 |
| Reserves and Surplus | 43.62 | -3.11 | -5.60 | -5.52 |
| Amount in ₹ Crore | ||||
Established in June 1992, VFS Projects Limited is an integrated construction and infrastructure development and execution company with two main business lines: 1) The construction business and 2) Aquaculture.
Initially, the company has set up an aquaculture farm at Ankalapatur village in Tirupati district of Andhra Pradesh to cultivate the Black Tiger (P. Monodon) variety, which is 100% export-oriented. The farm has a total of 64 ponds. The project also includes its own hatchery for captive use with an installed capacity of 40 million seeds per year.
In 2011, the company proposed to set up a supercritical thermal power plant with a capacity of 1 x 350 MW in the first phase at Ankulapatur (V), Chillakur (M), SPSR Nellore (Dist) in Andhra Pradesh. The company received TOR approval for the power plant project from the State Level Environment Appraisal Committee on January 06, 2011, but the project could not be implemented and had to be put on hold due to power surpluses in the states of Andhra Pradesh and Telangana. Project implementation was discontinued in 2016. The company now wants to use the land for the construction of a multi-product Free Trade and Residential Zone (FTWZ/SEZ).
