Engineering company Punj Lloyd gained more than 2 percent yesterday as its subsidiary Sembawang Engineers and Constructors received its first project in Hong Kong to build MTR Corporation's Shatin to Central Link Diamond Hill Station.
Speaking to CNBC-TV18, Atul Punj, chairman of Punj Lloyd said, the company’s focus will be on reducing debt for the next three-six months. He further said the company’s order backlog is now built to a level where it provides "clear visibility for the next two years."
Ravindra Kansal, president and chief executive officer, Middle East, Africa & CIS, Punj Lloyd, in an interview to CNBC-TV18, said that the company will complete the order in two and half-three years.
In an interview with CNBC-TV18, Shivendra Kumar, President and CEO of South Asia’s Energy business at Punj Lloyd said that this Rs 330 crore order contributes a very small portion of their overall order book.
Nikhil Gandhi, Chairman, Pipavav Shipyard in an interview with CNBC-TV18, said that the company is committed to repay USD 250 million debt which was secured for the fusion stake of Punj Llyod in Pipavav Shipyard. The company is in the process of raising the money from the open market for the same.