In an interview to CNBC-TV18, Nitin Patel, ED, Sadbhav Engineering, discusses details of the transaction and the company‘s plans ahead.
Nitin Patel, ED, Sadbhav Engineering expects some work to get executed in the current fiscal itself and believes the Rs 200 crore worth project will take two years for completion.
Sadbhav Engineering feels that around 2-3 projects may fall under the category of rescheduling its premiums. However, they are still awaiting minutes of its meeting by the Cabinet Committee on Economic Affairs.
The fund raising is a two part step involving preferential allotment and detachable warrant issue. The subscription time for the warrant is 12-months from the date of issue of the right shares.
Nitin Patel, ED, Sadbhav Engineering, says that recently the company as emerged as a successful bidder for the two lane project in Tamil Nadu. The project is based on annuity basis. The company has also submitted another bid for Rohtak-Hissar project for Rs 1300 crore, the results for which is expected today evening.
Sadbhav Engineering expects to complete its mega projects, worth nearly Rs 2,000 crore each, in Maharashtra and Karnataka in about thirty months. Nitin Patel, ED, talking to CNBC-TV 18, says that the Rajasthan project will get clearance by the second or third week of March, and the Maharashtra project by the end of April.
Nitin Patel, ED, Sadbhav Engineering, in an interview to CNBC-TV18 said the reason for revenues to be lower in Q3 was in spite of completing the financial closure for two key projects Shreenathji Udaipur and Solapur- Bijapur, environmental clearance was not provided for them.
In an interview to CNBC-TV18, Nitin Patel, ED, Sadbhav Engineering was gung-ho about bagging two consecutive NHAI projects and stated that the company plans to grow around 20% in FY13
After a surprising set of results, Sadbhav Engineering says the company is looking to place bids in the mining sectors.
According to Nitin Patel, executive director, Sadbhav Engineering, during fourth quarter the company is going to grow over 45% compound annual growth rate (CAGR) on year-on-year basis.