MEP Infrastructure Developers has emerged as the lowest bidder for 3 National Highways Authority of India (NHAI) projects. In an interview to CNBC-TV18, Jayant Mahaiskar, Chairman and MD of MEP Infrastructure spoke about the latest happenings in his company and sector.
MEP Infrastructure Developers has achieved the milestone one for the project of four-laning of Mahuva to Kagavadar of NH-8. In an interview with CNBC-TV18, Jayant Mhaiskar, VC and MD of the company spoke about the latest happenings in his company and sector.
In an interview to CNBC-TV18, Jayant Mhaiskar, VC & MD of MEP Infrastructure Developers spoke at length about the Bharatmala project.
The MEP Infrastructure Developers saw volatile trade ahead of its annual general meeting (AGM) last week. In an interview to CNBC-TV18, Jayant Mhaiskar, Vice Chairman and Managing Director of MEP Infrastructure spoke about the latest happenings in his company and sector.
MEP Infrastructure Developers bags letter of agreement worth Rs 325.1 crore for Bandra-Worli sea link. It's an operation and maintenance (O&M) contract for a period of three years.
"The revenue on toll side would likely to grow steadily between 10 percent and 15 percent on YoY basis,” Jayant Mhaiskar, VC & MD, MEP Infrastructure told CNBC-TV18.
The company is actively looking at bidding for hybrid annuity projects and would be bidding for Rs 5000-6000 crore in the current quarter, said Jayant Mhaiskar, VC & MD, MEP Infrastructure.
The government‘s targets for completion of road projects have come under a flak from road sector experts with Feedback Infrastructure Chairman Vinayak Chatterjee and MEP Infrastructure Managing Director Jayant Mhaiskar terming the targets as overambitious.
MEP Infrastructure too will be filing for a DRHP for InvIT within a month's time, said Vice Chairman and Managing Director Jayant Mhaiskar, adding that post that the approval is likely to come in 45 days.
The incremental capital will be brought in through either preferential shares or rights issue and the total quantum of fund raising will be in-line with requirement of equity to be infused for the projects, said Jayant Mhaiskar, VC & MD, MEP Infra.
MEP Infra will be managing the Paduna toll in Rajasthan and pay Rs 128 crore to the NHAI for a year.
The JV being a hybrid annuity model will receive 40% as equity contribution by the government and balance 60 percent will be borne by the bidder via debt and equity, says Jayant Mhaiskar, Vice-chairman and Managing Director, MEP Infrastructure Developers.
Jayant Mhaiskar, Chairman and Managing Director of MEP Infra says, revenue of around Rs 65-66 crore is expected from the Pungad toll collection project and average return on equity on such projects is about 10-12 percent.
Jayant Mhaiskar, Vice Chairman and Managing Director of MEP Infrastructure expects the company‘s profitability to improve and cost of borrowing to reduce going forward.
MEP Infrastructure has received letter of acceptance for two projects from NHAI. It has got the rights to collect toll fee at NH-31 in West Bengal and Dasna toll plaza, a section of NH24 in Uttar Pradesh for a period of one-year.
Jayant Mhaiskar, Vice Chairman and Managing Director of MEP Infra says that MEP has won the bid the second time in succession and it will add Rs 81-82 crores to the company‘s revenues.
In an interview to CNBC-TV18, MEP Infra's Chairman and Managing Director Jayant D Mhaiskar shares his views on the projects the company has bid for and the road ahead.
Sadbhav Engineering is in focus as the company has won orders worth Rs 905 crore. Discussing the details, its ED Nitin Patel said the turnover from these projects will start contributing from Q3FY16.