After having posted profit after tax (PAT) of Rs 16.2 crore versus Rs 2.4 crore, Jayant Mhaiskar, vice chairman & managing director, MEP Infrastructure hopes to grow 10-15 percent in FY16.
Mhaiskar says new orders, specifically a tolling project in Delhi will help the company achieve this growth rate.
The company's net sales were up 86.4 percent at at Rs 907 crore vs Rs 487 crore.
Below is the verbatim transcript of Jayant Mhaiskar's interview with Latha Venkatesh and Sumaira Abidi on CNBC-TV18.
Sumaira: You have posted your FY15 earnings but if I see your consolidated number, it has come in at Rs 984 crore for the revenue which is a bit lower than your own guidance of about Rs 2,000 crore, how is FY16 looking to shape up and what are you hoping to do in terms of your topline?
A: We had indicated Rs 2,000 crore topline for FY15 which has been reduced to Rs 1,984 predominantly because of a specific Chennai project we were expecting some reversals in the cash flows, which has taken little more time which has not happened. So we are short by Rs 16 crore of that. As far as FY16 is concerned, I think we should be able to clock in the range of around Rs 2,000 crore as well for FY16.
Latha: What are your major revenue earners in terms of traffic growth? Which projects?
A: We have a bouquet of projects starting from one year projects to a 9-year concession and longer duration as high as 18 years wherein we have a mix of traffic and revenue which goes for different projects. As far as the split is concerned, we clocked close to around Rs 380 crore for the Mumbai project then we have different NHAI one year contracts, if you see my standalone balancesheet, Rs 907 crore is the total revenue which we have clocked predominantly out of one year contract and mid-term contract ranging between three-four years.
Latha: The one year contracts will be pure engineering-procurement-construction (EPC) contracts, is it?
A: We don’t deal into EPC, what we do is we do the tolling contracts which are predominantly one year in nature.
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