A: One should keep in mind that the infrastructure companies are very general or we can even include the contracting companies also. So, the companies those who are infact owning the assets whether it is sea port or airport or power projects or roads. They will all stand to gain because you cannot have an income on a sustainable or a continuous basis with growth by merely executing their contract because they will always be having a low price per earning (PE) multiple. So, those companies which are asset owned or which are asset backed will always be with an advantage.

The Railway Budget has decided to to make 50 stations as world-class. If I take an investment of average Rs 1,000 crore because you cannot make a railway station world-class with lower investment, you have an opportunity of Rs 100,000 crore. Those projects will go to the asset backed infrastructure company or the construction company because we have seen Parsvnath having a same model applied for the Delhi Metro Project. So, I see this as a big growth driver for the real estate companies. Then second is metal because already especially in the non ferrous metal we have seen the prices having bottomed out. And since then there has been a recovery whether you are talking about copper, zinc, lead or aluminium.      

Q: RNRL files special leave petition in Supreme Court (SC), you want to react to that news?

A: This again was expected because all the battles will keep going on and ultimately the destination for all those things will be at the SC.   

Q: What is the reason for RNRL filing this special leave petition?

A: I think the plea could be in that special leave petition (SLP) that expeditious implementation of the Bombay High Court order and secondly, the government has been saying that their interest will get prejudiced or may be this is a national property. So, they are trying to impress or trying to clarify in that SLP that this is in no way impacting the interest of the government. So, they want to have some order confirming or just corroborating with their views that this is in no way prejudicial and let some order get passed by SC. But I do not think if you really see the legal development or the procedure even SC will entertain this SLP which is likely to be heard next week. Probably, they’ll wait till 15 July which is the last day for making an appeal by the RIL to SC and which is most likely. So may be both the petitions will be bunched together by the SC bench and it will be taken up at that time only.