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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.
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In an interview to CNBC-TV18, Prasad Patwardhan, Chief Financial Officer, ITD Cementation India spoke about the results and his outlook for the company.
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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.
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"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.
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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.
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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.
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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.
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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.
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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.
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Company is trying to sort out execution challenges to improve its margins, says S Ramnath, CFO, ITD Cementation
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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.
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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.
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The company's order book currently stands at Rs 5700 crore. ITD Cementation is also pursuing several opportunities in marine and MRT space
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The consortium, of which ITD Cementation comprises 40 percent, includes two more companies- Continental Engineering Corporation and Tata Projects.
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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.
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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.
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In an interview to CNBC-TV18, S Ramnath, chief financial officer of the company says order pipeline continues to remain strong.
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ITD Cementation's total claims with NHAI stands at Rs 900 crore, says company CFO S Ramnath.
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The long-term prognosis is very good backed by strong orders and Q4 could be a breakeven performance, said S Ramnath of ITD Cementation.
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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
