IRB Infra says its order book is at Rs 9100cr in Q3

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IRB Infrastructure Developers announced its financial results for the quarter ended December 31, 2011. The company's consolidated net profit came in at Rs 131 crore in the third quarter of FY12 as against Rs 133 crore YoY. Consolidated income from operations climbed 11% to Rs 745 crore from Rs 669 crore during the same period.

Chief financial officer Anil Yadav tells CNBC-TV18 that the company's order book is at Rs 9,100 crore at the end of the third quarter. "Our order book comprises of nearly Rs 7,000 crore worth of EPC orders," he adds.

IRB Infra says it is on track to achieve financial closure on the Ahmedabad project by February 2012.

Below is an edited transcript. Watch the accompanying video for more.

Q: Your margins and revenue topline have largely met what the street was expecting. What is the outlook for the next quarter?

A: We have given guidance at the beginning of the year that we will achieve Rs 3,000 crore of turnover and Rs 500 crore of bottomline. We are sticking to our guidance and are on track to achieve that.

Q: Your income is Rs 745 crore and your profit is at Rs 131 crore. What was the EBITDA and what were the margins?

A: Total consolidated income has gone up to Rs 779 crore from Rs 681 crore in December 2010 registering a growth of 14%. EBITDA for December 2011 has gone up to Rs 375 crore from Rs 305 crore in December 2010 registering a growth of 23%.

Q: On your operating margins, we last heard you had done about 43-44%?

A: Operating margins is close to 44% at Rs 341 crore on the topline of Rs 745 crore.

Q: What was the order book at the end of Q3? What is the order pipeline looking like right now?

A: The order book as of Q3 is Rs 9,100 crore and roughly Rs 35-40,000 crore worth of project we have already qualified and based on their viability we will bidding for the project and the rate will totally depend upon the bidding in the future. It's very difficult to quote any number as to how much we can win by year end.

Q: The market is watching out for the Ahmedabad-Vadodara Highway and by when you could achieve financial closure on that. What's the progress on that front?

A: As far as the Ahmedabad-Vadodara financial closure is concerned, we are on track to achieve it. We will achieve the financial closure on schedule.

Q: By February end you should be able to complete it?

A: Yes.

Q: Can you give us an idea of whether you will be able to maintain this 44% margins or whether in the coming year this could be trimmed a bit because of the huge competition in the road construction space?

A: We have Rs 9,100 crore of order book. Close to Rs 7,000 crore odd is the order book of EPC that is already bagged by the company. We don't foresee that there will be any decline in the margins. Margin of the company will be between 42-44% going forward based on the current raw material prices etc.

Q: How many projects will start yielding revenues in FY13? You said Rs 3,000 crore for the current year. Is there some visibility on revenues in FY13?

A: The project that will become operational next year will be Jaipur-Deoli that will be yielding toll revenue and Talegoan-Amravati those will start at the very fag end of FY13.

Q: So the guidance for FY13 revenues would be how much?

A: As of now it's difficult to provide guidance for FY13. We might be providing guidance at the end of our annual audited results, as of now we are not providing any guidance for FY13.