"As far as the balance sheet is concerned we have absolutely no issues on hand. We are comfortable in terms of interest payment," Virendra Mhaiskar said.
IRB Infrastructure is confident of maintaining healthy margins in the coming quarters. Toll collections have increased in some areas, and a few projects are on the verge of completion, says Anil Yadav, CFO of IRB Infrastructure in an interview to CNBC-TV18.
Anil Yadav, CFO, IRB Infrastructure Developers says the company has an Rs 8,400 crore order book position. Going forward, the company will aim for an order book of 300 to 400 kilometres in a year.
VD Mhaiskar, CMD, IRB Infrastructure said revenues for Q3 have been robust on back of sound execution of projects on the construction side and also because of higher toll collections.
VD Mhaiskar, CMD, IRB Infrastracture Developers, says that there was delay in getting environment clearance (EC) and forest clearance (FC) for the Ahmadabad-Baroda project but now the clearance is in place and IRB Infrastructure has taken over that project from NHAI on January 1.
IRB Infrastructure plunged over 7 percent yesterday on reports of CBI raid. In an interview to CNBC-TV18, the company‘s chairman and managing director VD Mhaiskar clarified that there was no Central Bureau of Investigation (CBI) raid on any IRB office yesterday.
V D Mhaiskar, CMD of IRB Infra said the construction segment revenue stands at Rs 597 crore in Q2 and the tolling revenue for the same quarter is Rs 248 crore. He added that the current quarter saw 6.2% average growth in project inflows.
IRB Infra has received a service tax demand notice from the IT department on September 10 and VD Mhaiskar, CMD of IRB said they are looking at a one time penalty of around Rs 300 crore applied on three of its operational special purpose vehicles (SPVs).
IRB Infra has successfully retained margins and the company doesn't see any immediate pressure on operating margins.
VD Mhaiskar, chairman and managing director, IRB Infra in an interview to CNBC-TV18 spoke about the latest happenings in the company and the way ahead.
A lot of bidding companies in the infrastructure sector are facing intense competition in the last one year. K Ramchand, MD of ITNL tells CNBC-TV18 that however the competition is reducing in the space because of adverse condition like interest rates.
VD Mhaiskar, chairman and managing director, IRB Infra denies reports of over bidding on the two corridors and they have won the bid on the numbers that have been shared with the analysts and news channels.
IRB Infrastructure Developers CFO Anil Yadav tells CNBC-TV18 that the company's order book is at Rs 9,100 crore at the end of the third quarter.
In an interview to CNBC-TV18, VD Mahiskar, chairman and managing director, IRB Infra said, "If there would have been any intention of hiding it, we would not have registered it in India and paid a full duty of almost Rs 20 crore on it."
The National Highways Authority of India cancelled the Goa road project that it had awarded to IRB Infrastructure in January 2010 due to the inability to acquire land for the project. In an interview to CNBC-TY18, AK Upadhyay, chairman of NHAI says, this is just one off case.
IRB Infra expects to clock nearly Rs 500 crore profit in FY12. VD Mhaiskar, chairman and managing director, IRB Infra in an interview to CNBC-TV18 said, "We are pretty much on the target to achieve close to Rs 3,000 crore topline as we had indicated at the beginning of the year and close to 500 crore PAT."
VD Mhaiskar, chairman and managing director of IRB Infra says, the company is holding on the guidance, which it had given at the beginning of the year, of 10% to 15% growth.
CNBC-TV18 catches up with IRB Infra's chairman and managing director, VD Mhaiskar, who has bought 2% in his company, upping his stake to 60% even as the promoter group sold nearly 10% in a block deal. Check out the interview!
The Reserve Bank of India’s move to hike interest rates in a bid to tame inflation has hit the infrastructure space adversely. Experts feel that monetary tightening will sit heavily on the shoulders of infrastructure comapnies, and asset quality issues will be a big drag.
Speaking to CNBC-TV18 in an exclusive, the management of the company says that the I-T raid was only a routine search operation on the company’s premises. “However, some small cost implications do exist as a result of the raid,” says VD Mhaiskar, chairman and managing director, IRB Infrastructure.
VD Mhaiskar, chairman and managing director of IRB Infrastructure Developers in an interview with CNBC-TV18 said that he expects the company's topline to grow by 15-20% in FY12.
VD Mhaiskar, chairman and managing director of IRB Infrastructure Developers gave his perspective on the latest happenings in the company and industry.
IRB Infrastructure Developers has announced its fourth quarter results. In an interview with CNBC-TV18, VD Mhaiskar, CMD, IRB Infrastructure Developers Ltd says, he expects 15-20% top-line and bottom-line growth in FY12.
Sunil Kanoria, Vice Chairman of SREI Infrastructure Finance and V D Mhaiskar, CMD of IRB Infra, in an interview with CNBC-TV18’s Mitali Mukherjee and Udayan Mukherjee, spoke about how it would impact their companies and their plans for the company going forward.
IRB Infrastructure Developers bagged first NHAI ultra mega project in highways for Ahmedabad-Vadodara. VD Mhaiskar chairman and managing director of IRB Infra, in an exclusive interview with CNBC-TV18’s Udayan Mukherjee and Mitali Mukherjee, shares details and expectation from the deal.