Dilip Buildcon eyes Rs 11,000 crore revenue by FY18
The company, which is primarily engaged in construction of roads and highways, expects to close this fiscal with over Rs 4,000 crore in revenue as compared to Rs 2,600 crore in 2014-15 fiscal.
December 21, 2015 / 13:19 IST
With a strong order backlog, infrastructure firm Dilip Buildcon (DBL) is eyeing around Rs 11,000 crore revenue over the next two years. "We have a strong net order book of over Rs 11,500 crore which has to be executed over the next two-and-half years.
This gives us a clear visibility of almost similar amount of revenues over the next two years", company's head of Strategy and Planning Rohan Suryavanshi told PTI. The company, which is primarily engaged in construction of roads and highways, expects to close this fiscal with over Rs 4,000 crore in revenue as compared to Rs 2,600 crore in 2014-15 fiscal. DBL, present in 14 states including Punjab, Haryana, Uttar Pradesh, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand, Seemandra, Telangana, Karnataka, among others, is eyeing some more projects being bid out by the States as well as by the National Highways Authority of India (NHAI). "Around 2-3 years back, many private players who had bid for BOT projects were our largest customers with nearly 80 per cent of orders coming from these firms. But today, nearly 90 per cent of our orders come from the public sector as these private firms are facing huge financial crisis due to regulatory issues", Suryavanshi said. He further said the company will continue to bid for projects in the regions where it is already present. "Our strategy is to execute projects before schedule and deploy construction equipment owned by us to ensure timely execution. We have a modern equipment fleet of over 4,700 vehicles and other construction equipment of Caterpillar, SchwingStettar, Metso and Wirtgen", he said. Apart from constructing roads, the company has also undertaken projects in the irrigation and urban development sectors. "In the irrigation business we specialise in building dams and canals, while in the urban development sector we construct buildings and urban amenities. Besides, we recently bagged a coal mining contract. "We expect to bag some more EPC projects in these sectors going forward", Suryavanshi said. When asked about its plans to raise Rs 650 crore through initial public offer, he said: "We have already filed the DRHP and received the necessary approvals. But are now waiting for our bankers' go ahead as we feel this is not the right time to come out with an IPO. We expect to go public in the first quarter of 2016-17. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
