Gammon Infra has booked Rs 20 crore revenue on account of the Vijayawada Project, is the word coming in from its managing director Kishor Kumar Mohanty. He says the company is targeting a topline of Rs 1500 crore by FY15-end.
In the December quarter, the company also received arrears worth Rs 35 crore on account of a project.
Gammon Infra’s Hajipur project is on the verge of commencement of operation and its three new projects will contribute 50 percent to next year’s revenues.
Below is the verbatim transcript of Kishor Kumar Mohanty’' interview with Sonia Shenoy & Ekta Batra on CNBC-TV18.
Ekta: This quarter has been good for you all on an optical basis’s it is seems. Your total income is up around 82 percent odd. Were there any sort of exceptional inflows this quarter which resulted in this 82 percent growth on our topline?
A: Firstly, we have started the operation of Vijayawada project so that has given a topline of around Rs 20 crore in the quarter. Second, we got some bonus amount on Gorakhpur that is around Rs 35 crore and besides that the traffic in MNEL and the business in Vizag port has shown a slight upward movement that has also given some hike. So overall it has been a reasonable increase in our topline and as has been indicated by me in the last quarter result also, crossing almost Rs 1,000 crore mark on annual basis. Key three projects are on the verge of completion if that gets completed now in one or two months time we will be inching towards Rs 1,500 crore topline.
Sonia: Rs 1,500 crore topline by the end of FY15 what would that amount to in terms of a revenue for the next quarter?
A: Revenue for next quarter might be, these three new projects will not contribute much because towards the end of next quarter only will they get completed so that may not be seen. However one quarter after that I am sure that result will be visible. Second thing is some EPC is coming into full swing, this season time so that will add some topline. We are doing some partial EPC work in two projects so that will add to topline. Besides that the operation in Vizag and MNEL swing improvement so that will go to around 10-15 percent increase in their respective projects topline.
Ekta: You have turned into the black this quarter on the bottomline cam we expect that for Q4?
A: A good time has come so we will only improve upon this bottomline rather than again going back to it.
Ekta: So you are saying a profit will be delivered in Q4 as well and what about FY16?
A: FY16 which we are looking at least a profit after tax (PAT) of around Rs 50 crore so that should be reasonable to expect.
Sonia: Can you give us an update on these three projects Pravara Nagar, Hajipur-Muzaffarpur and the Godavari Bridge project? When will these be completed and when do you expect revenues to be recognised from these projects?
A: Godavari and Pravara just in the last lap, in next 60-75 days they will be operational. Hajipur is fully ready for operation, it is just pending with NHAI for the decision and it might happen anytime. So all the three projects are on track. Patna Highway Projects Ltd is slightly delayed not on our account and due to the lack of faster decision process in NHAI it is slightly delayed otherwise that work is also complemented.
Sonia: What kind of revenues are you looking at for the next fiscal just a ball park?
A: Next financial year the revenues should be around Rs 1,250-1,500 because these three projects will contribute only half for the half year or little more than half of the year. Once they are for a full-year operation, topline will cross Rs 1,500 crore.
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