Eye 25-30% growth in H2FY17; reduce long-term debt: Gayatri

Gayatri Projects reported a 48 percent jump in net profit to Rs 10 crore year-on-year (YoY) in Q2 of the current fiscal. The total income grew 10.3 percent to Rs 350 crore. Speaking to CNBC-TV18, TV Sandeep Reddy, MD of the company said profit is higher due to increased execution and tax reversal. Gayatri Project’s orderbook has doubled over last one year. The current orderbook stands at Rs 7,000 crore. The company is expecting ramp up in execution in the third quarter. Focus is also on reducing long-term loans, Reddy said. The management is eyeing 25-35 percent growth in second half of FY17. Watch video for more..