On track to record 10-15% FY11 rev growth: Sunil Hi-Tech

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On track to record 10-15% FY11 rev growth: Sunil Hi-Tech

Sunil Gutte, the whole-time director of the company, in an interview on CNBC-TV18 spoke about their third quarter results and the outlook ahead.

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The first half of FY11 wasn't kind to Sunil Hi-Tech Engineers , but their third quarter saw a very good set of numbers. They have seen a 30% growth in terms of their sales performance.

Sunil Gutte, the whole-time director of the company, in an interview on CNBC-TV18 spoke about their third quarter results and the outlook ahead.

Below is a verbatim transcript of his interview with CNBC-TV18's Reema Tendulkar and Ekta Batra. For the complete interview watch the accompanying video.

Q: For the past three quarters, the company was posting a bit of decline in terms of revenue performance. Could you take us through the key highlights of what drove the revenues this quarter?

A: Last two quarters there has been a decline in the results. The main reason is the order book shift, mechanical jobs to civil and structural jobs with engineering is the reason. The engineering takes almost four-five months.

The first quarter because of engineering we couldn't do much and in the second quarter this time there was extended monsoon which is why major civil works got hampered. The moment these rains were over in the third quarter you can see a big jump in the revenue as compared to the last quarter in the last financial year and there is a considerable jump.

Q: One of the key concerns probably in the last couple of quarters was the execution. That seems to have picked up now. What is your expectation going forward and also can you touch upon the pick up in execution of orders which you have possibly seen?

A: I don't think there should be any doubt on the execution. Next quarter seems to be good. Our forecast what we envisaged during the beginning of the year around 10-15% growth YoY and we are on track. We would be catching up in fact with our subsidiary and consolidation we would be better as compared to last year.

Q: What exactly would your order backlog be right now?

A: Around Rs 2,000 crore as on December quarter.