An infra company, engaged in building highways, airports, power generation and transmission and telecom facilities the company would have ended the second quarter on a higher note but for the soaring costs.
For Q2 ended 30th September 2008, on a YoY, net sales rose by a whopping 162% but a 186% rise in construction costs, 150% rise in employee cost and over 4.5 times rise in interest outgo led to the company post a flat growth. Net profit was at Rs.4.95 crore which is almost equal to Rs.4.93 crore posted in Q2FY08. Revenue from Indian operations rose 225% while overseas rose 53%.
The company has a burgeoning order book. It was awarded two contracts amounting to Rs.202 crores from the Himachal Pradesh Road and Infrastructure Development Corporation, marking its first entry in the state of Himachal Pradesh. Earlier the company had bagged three orders cumulatively worth Rs.209 crores from the state of Punjab under the World Bank aided development scheme. In November it bagged four orders valued at Rs.963 crores for Improvement/Upgradation of State Highway roads from the Bihar Government, of which orders worth Rs.578 crores are with its long standing joint venture partner M/s. BSCPL Infrastructure Ltd. The balance orders of Rs.385 crores are in its own name. These orders have to be executed over an average period of 33 months. With these orders the company's order book now stands at around Rs.1300 crores which it is confident of executing by June 2009.
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