Maytas grew only under YSR, thanks to undue patronage

DESARAJU SURYA
Hyderabad: The Congress government in Andhra Pradesh has virtually acknowledged that Maytas Infra, promoted by Satyam Computers' ex-chief B Ramalinga Raju and his family, had indeed registered the fastest growth during the Y S Rajasekhara Reddy regime. State finance minister K Rosaiah, however, said the government was still trying to get a "confirmation" on this. Bowing to mounting pressure from opposition parties, the government has also agreed to come out with more details on Maytas. "This company has been in business since 1996-97 under the name of Satyam Constructions when the TDP was in power. The allegations being made by the opposition parties are far from truth. We will give you all the details," he promised. Rosaiah, who is also the state Cabinet's official spokesman, released the turnover figures of Satyam Constructions (renamed as Maytas Infra in 2003) from 1996-97. Figures given by the finance minister clearly indicated that Maytas Infra rose meteorically since 2003-04. The company which registered a turnover of Rs 383.39 crore in 2004-05 when the Congress assumed power in the state, grew rapidly to Rs 396.04 crore in 2005-06, Rs 782.05 crore in 2006-07 and Rs 1873.93 crore in 2007-08. The company has interests in road works, irrigation projects, oil and gas, energy and other major infrastructure works. Referring to the past, the minister pointed out that Satyam Constructions had a turnover of Rs 20.76 crore in 1996-97, Rs 49.35 crore in 1997-98, Rs 92.43 crore in 1998-99, Rs 101.02 crore in 1999-2000, Rs 124 crore in 2000-01, Rs 146 crore in 2001-02, Rs 192.26 crore in 2002-03 and Rs 299.33 crore in 2003-04 when the TDP was in power.