BackIL&FS Transportation sees Rs4,000 crore orders in FY12
IL&FS Transportation sees Rs4,000 crore orders in FY12
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Mumbai: Surface transport infrastructure firm IL&FS Transportation Networks Ltd (ITNL) expects fresh orders worth Rs4,000 crore in FY12, as it hopes to win at least 200-300 km of road projects this year, a top official said on Thursday.
“It (FY12) started on a good note... The National Highways Authority of India (NHAI) had announced it will call bids for at least 7,000 km of road projects, and we expect to win some, managing director K. Ramchand told Reuters in an interview.
There was a lull in awarding of projects in FY10, but this helped the company focus on implementing its projects. The revenues from some of these projects would also start flowing this year, he added.
“We are L1 in certain projects, but these are the same old projects, nothing new as of now," he said, adding, its orderbook position as on 31 March stood at about Rs11,000 crore.
Last week, the company reported a 11% drop in net profit at Rs288 crore for Jan-March on a standalone basis, compared with Rs325 crore a year ago.
IL&FS Transportation Networks also sees its debt rising by another Rs3,000 crore in the current fiscal from Rs5,467 crore at end FY11.
“Our debt will grow because many of our projects are under commissioning... because you need the debt to start doing the projects."
It is also looking at bidding for road projects in the Middle East, Africa, Commonwealth of Independent States and East European nations. Elsamex, the company’s wholly-owned unit, is scouting for road maintenance contracts in the Middle East, he added.
The company, which was the lowest bidder for a $1.5 billion, 300-km-long road project in Kazhakstan, is awaiting the award of the contract, he said.
At 12.21 pm, shares of the company were trading lower at 1.35% at Rs200.50 a share in a steady Mumbai stock market.
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