Gayatri Projects in focus as the company reduces gross debt by Rs 40 crore in 11 months of FY18. In an interview to CNBC-TV18, TV Sandeep Reddy, MD of the company spoke at length about the debt paring plans and gave his outlook for the future.
Gayatri Projects announced that they are reorganising their energy investments in their wholly-owned subsidiary. In an interview with CNBC-TV18, TV Sandeep Reddy, MD of Gayatri Projects spoke about the same.
Gayatri Projects has won Rs 1,363-crore irrigation order in joint venture (JV) with two companies. "We have a JV with 70 percent share and other two partners own 30 percent", TV Sandeep Reddy of Gayatri Projects told CNBC-TV18.
The company recently concluded the construction of a 1320-MW thermal power plant in Andhra Pradesh and its overall power portfolio now aggregates 2,640 MW.
Gayatri Projects bagged a highway contract worth Rs 1255 crore in JV with Russian company PTPS. The Indian company is the majority partner; and the Russian company is into construction.
The airport development team will start the work on Navi Mumbai Airport by December 2016 and make it operational by end of 2019, says Cidco Chief Engineer Sanjay Choudhary.
TV Sandeep Reddy, MD, Gayatri Projects said Longwall technology would aid revenue growth substantially for the company from underground projects.
TV Sandeep Reddy, MD of the company, says the company will sell Jhansi and Lalitpur projects post getting commercial operational date (COD).
It is an ADB funded project to be completed in 48 months, said TV Sandeep Reddy, MD, Gayatri Projects.
Going forward the company also plans to bid aggressively for the NHAI order, said TV Sandeep Reddy, nanaging director of Gayatri Projects.
The total orderbook for Gayatri Projects at the end of December quarter is around Rs 6000 crore, said managing director, TV Sandeep Reddy.
Gayatri Projects is setting up a 1,320 megawatt (MW) power plant in Krishnapatnam, which is in an advance stage of construction, says TV Sandeep Reddy, managing director Gayatri Projects.
Gayatri Projects raised some money via qualified institutional placement (QIP) some time back. They will be using the money to reduce high cost debt and meet long-term working capital requirements, Sandeep Reddy, MD of the company told CNBC-TV18 in an interview.
In an interview to CNBC-TV18, TV Sandeep Reddy, managing director of Gayatri Projects said, rights were supposed to be completed before June, but SEBI clearance was delayed. “We are hoping to get the SEBI clearance shortly. And then we would probably complete the rights issue before December.”
In an interview with CNBC-TV18, TV Sandeep Reddy, MD, Gayatri Projects, spoke about the latest happenings in his company and sector.