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The greatest enterprise of a private sector of India in utility of the power, the Confidence Infrastructure has informed on 14 percent jump in its net profit for the financial quarter finished on June, 30th 2008.

The leading power producer and infrastructure builder said its net profit for Q1 of FY09 stood at Rs.253 crore, up from Rs.222 crore posted in Q1 of FY08 (year-on-year or YoY growth of 13.9 percent). During the same period, its total income rose from Rs.1984 crore to Rs.2618 crore (YoY rise of 31.95 percent).Meanwhile, the company is reportedly planning a 50:50 joint venture with China's Shanghai Electric Corporation to set up a Rs.12,000 crore ($3 billion) power equipment plant in India by 2010.Around Rs.9500 crore will be raised as debt while the remaining will be from equity.

The plant, with an initial capacity of 10,000 megawatts (MW) is expected to be bigger than the one announced earlier by NTPC-BHEL Power Projects Pvt Ltd. (NBPPL), an equal joint venture (JV) between India's top power producer NTPC Ltd and Bharat Heavy Electricals Ltd (BHEL), which said it plans to invest Rs.6000 crore in greenfield projects to set up a power equipment plant that would manufacture boilers and turbines.