ITD Cementation lost out to Reliance Infra on the Bandra-Versova Sea Link project. This is the second loss that ITD Cementation has faced in quick succession after they lost the Mumbai Trans Harbour Link earlier.
In an interview to CNBC-TV18, Prasad Patwardhan, Chief Financial Officer, ITD Cementation India spoke about the results and his outlook for the company.
One change in Prime Minister Modi's big cabinet reshuffle over the weekend was that in addition to the Road & Highways Ministry, Nitin Gadkari has been given the Water Resources. In an interview to CNBC-TV18, Prasad Patwardhan, Chief Financial Officer of ITD Cementation shared his views and outlook on the same.
"Any development can be done only once you address the problems of getting the river clean from all the sewage and the unwanted material that is going into the river", S Ramnath, CFO of ITD Cementation told CNBC-TV18.
ITD Cementation hopes to grow revenues by 8-10 percent this year with significant improvement in the bottom-line, says Chief Financial Officer, S Ramnath.
In an interview to CNBC-TV18, S Ramnath, CFO of ITD Cementation India said that the current order book stands at Rs 6,700-6,800 crore.
ITD Cementation's CFO S Ramnath attributes the lower-than-expected earnings to recognition of loss in share of joint venture during the second quarter.
With focus on execution and taking up cash generating projects, we are confident of 15-20 percent growth in CY16, said S Ramnath, CFO, ITD Cementation.
The company is L1 (lowest bidder) in the Mumbai metro project for which it has bid along with two other companies, says CFO of ITD Cementation.
Company is trying to sort out execution challenges to improve its margins, says S Ramnath, CFO, ITD Cementation
Speaking to CNBC-TV18, S Ramnath, CFO of ITD said that improvement in order inflows gave boost to the company‘s topline and expects revenue to grow 15-20 percent in CY16.
S Ramnath, CFO, ITD Cementation said the orderbook for the company currently stands at Rs 6000 crore as of December and are awaiting couple of L1 contracts to be awarded.
The company's order book currently stands at Rs 5700 crore. ITD Cementation is also pursuing several opportunities in marine and MRT space
The consortium, of which ITD Cementation comprises 40 percent, includes two more companies- Continental Engineering Corporation and Tata Projects.
In an interview with CNBC-TV18, S Ramnarth, Chief Financial Officer of ITD Cementation said with new projects lined up, he expects the company to turn profitable in CY15.
S Ramnath, CFO, ITD Cementation says 50% of total order book comprises of Maritime Infra. The company is also pursuing opportunities in Uttarakhand, UP and other states for riverfront projects.
In an interview to CNBC-TV18, S Ramnath, chief financial officer of the company says order pipeline continues to remain strong.
ITD Cementation's total claims with NHAI stands at Rs 900 crore, says company CFO S Ramnath.
The long-term prognosis is very good backed by strong orders and Q4 could be a breakeven performance, said S Ramnath of ITD Cementation.
ITD Cementation‘s management believes it has a healthy order book and the contraction in piling and foundation work flow is a temporary phenomenon. Here is an edited transcript of the response to the questionnaire sent by moneycontrol.com