I am glad to share that FY16 has been a milestone year for us in terms of our business strategy. We have moved up the value chain from being a foundation engineering company to a complete EPC solutions company focused on infrastructure and construction sectors.
We received a large EPC order equivalent to around Rs, 250 Crores in Singapore. Such a large order is indeed very prestigious for our Company. It depicts that our customers have faith in our ability to execute orders for comprehensive projects. Such a significant order further consolidates our position in Singapore and demonstrates our superior execution skill and track record.
This year we have also acquired majority stake of 50.2% in the Singapore''''s Company “Swee Hong Ltd. (SHL)”. Swee Hong is one of the leading EPC Company listed in Singapore''''s Stock Exchange. This acquisition will help us cater to EPC opportunities in Singapore as well as other South East Asian markets including India.
The acquisition will be significant considering the robust demand outlook in Singapore and other countries for civil engineering works and smart cities projects. This would result in Kridhan moving up the value chain to larger EPC projects with the vision to create complete Infrastructure Solutions Company.
This year we achieved consolidated revenues of Rs, 489 Crores. 85% of the revenues came from our Foundation Engineering Business. We also reported a healthy EBITDA margin of 13.5%.
Going forward, Singapore, India and South East Asian markets would continue to be integral to our vision for growth. We have made inroads in EPC contracts and expect this to drive up our growth from here on.
I would like to thank you all for your support in our journey. We look forward to the new financial year with a lot of optimism.
Anil Dhanpat Agrawal Managing Director