SBI-Macquarie Infra Fund is looking to exit Ashoka Buildcon's subsidiary Ashoka Concessions Limited (ACL) and the process has already begun, said Paresh Mehta, CFO of Ashoka Buildcon.
Speaking to CNBC-TV18 the CFO, Paresh Mehta, said the company will not make any compromise with its margin adding that it continued to bid for Engineering, Procurement, and Construction (EPC) projects with margins of around 12-12.5 percent.
Ashoka Buildcon's CFO, Paresh Mehta says the earnings before interest, tax, depreciation and amortisation (EBITDA) margins have improved on account of commissioning of new projects
In an interview to CNBC-TV18, Paresh Mehta, CFO of Ashoka Buildcon spoke about the letter of acceptance which its arm has received for Karnataka/Maharashtra border project and his outlook for the company.
In Q2FY14, Ashoka Buildcon‘s turnover and EBITDA stood at Rs 777 crore and Rs 180 crore respectively. Its EPC turnover was at Rs 631 crore over Rs 624 crore.
Ashoka Buildcon has recently bagged a highway project from NHAI worth around Rs 1,100 crore. The company might grow by at least 15%, said Chief Financial Officer Paresh Mehta.