New highway order to add 10-15% to margins: Gammon India

Gammon India Thursday said it has won an order worth Rs 870 crore from the National Highways Authority of India (NHAI) for a four-lane highway project in Karnataka. Speaking to CNBC-TV18, Senior Vice President KL Srinivasan said the company is expecting 10-15 percent margins from this project. The total orderbook of Gammon now stands at Rs 18,000 crore including order back log of Rs 12,000 crore, he said. The company is targeting overall margin of 10-15 percent for FY17. Srinivasan is hoping to get rid of current debt on back of boom in infrastructure and pick-up in the market. Watch video for more..