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One company turnover showed 11,363 pc growth
The DVAC said the 10 companies allegedly linked to Velumani, had grown phenomenally. One firm, CR Construction - had its turnover jump from Rs 38 lakh to Rs 43.5 crore, , registering 11,363% growth between 2012-13 and 2018-19.
Chennai
KCP Engineering too grew from Rs 42 crore turnover to Rs 454 crore in six years and showed 967% revenue increase. The DVAC also dug out details of firms like Ace-Tech Machinery India Private Limited, Constronics Infra Limited, Constromall Good Pvt Ltd, Sri Maha Ganapathy Jewellers Private Limited, Aalayam Foundations Private Limited, Vaidurya Hotels Private Limited, Ratnaa Lakshmi Hotels Private Limited, Aalam Gold - Diamonds Private Limited, AR ES PE Infra Private Limited, all believed to have benefited from their connection with the former Local Administration Minister.Â
Varadhan Infrastructure’s turnover grew from Rs 2.02 crore in 2012-13 to Rs 66.7 crore in 2018-19 (3,202% growth); Aalayam Foundation’s turnover was from Rs 55 lakh to Rs 15 crore in 2018-19 (2,636% growth); ACE tech grew 354% during the same time from Rs 34 crore to Rs 155 crore. Hosur Builders had just Rs 93 lakh turnover in 2015-16. Its growth was 2008% in two years to Rs 19.6 crore. Constronics India’s turn over recorded a growth of 4,796% from Rs 86 lakh to Rs 42 crore. A firm named Constromall Goods showed revenue growth of 273% in one year. Its turnover went from Rs 84 lakh in 2018-19 to Rs 3.14 crore in 2019-20. Similarly, Aalam Gold and Diamonds revenue went up from Rs 106 crore to Rs160 crore in just one year.
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