NCC has been buzzing in trade and is at 52-week high on back of some orders and ratings upgrade from agencies like ICRA and Fitch.
YD Murthy, Executive VP-Finance, NCC is confident that the order accretion is only going to increase going ahead. The company has received order from Nagpur Metro worth Rs 600 crore.
He is happy with the current order book position of the company. They have received fresh orders worth Rs 10,500 crore in FY17.
They also expect to receive arbitration award payment of Rs 22 crore from National Highway NHAI soon, said Murthy.
Payment from some other awards are also expected after giving bank guarantee upto 75 percent. Overall the arbitration awards in favour of the company are to the tune of Rs 1500 crore, of which Rs 120 crore is likely to come over a period of time.
The overall arbitrations that are underway are for about Rs 1500 crore but the awards are yet to be declared, said Murthy, adding that it could take about 12 months.
He said the company has also been successful in bringing down the debt in the parent company through monetisation of assets – two road assets and one power asset. This has helped us to bring down the interest rates and the debt-equity is at a comfortable level at 0.5:1.
So, in FY17-18 the finance cost is likely to come down by Rs 32-35 crore. The standalone finance cost stood at Rs 293 crore for the 9MFY17.
He is also upbeat of topline growing by around 10 percent in FY17 and margins would be better than 9 percent.
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