SP Tulsian, sptulsian.com told CNBC-TV18, "I am not happy with the Punj Lloyd's numbers. I have been quite apprehensive and I continue to do so. We should not really be too gung-ho or too enthused on the topline growth which they have posted of Rs 3,200 crore plus or close to Rs 3,300 crore. Ultimately the bottomline remains a concern."
He further added, "What is more confusing is that still there is no clarity on their overseas contracts. I have been hearing it for past six quarters that they should be able to turnaround and that has been the commentary of the management also. So unless and until the company post the bottomline in black and some improvements in their margin from their overseas contracts till then I will not be keeping a comforting view. As such if you really take the view on all the contracting stocks on all these engineering and construction companies on a relative basis if you make the comparison with maybe the two stocks like IVRCL and NCC probably you find much better value prevailing in those other two stocks than Punj Lloyd."
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