Highlighting that recycled water is the way forward for water security, Mittal said that landlocked cities like Delhi and Bengaluru, which are expected to reach record-high water scarcity level in the upcoming summer months, should promote reusing water from wash basins for gardening, toilets and introduce two-pipe systems.
In an interview to CNBC-TV18, Rajiv Mittal, Chief Executive and Managing Director, VA Tech Wabag, the company's now targeting a revenue of Rs 3,000-3,200 crore in FY17, with an order intake of Rs 4,000-4,200 crore.
The Chennai-based company had logged a consolidated net profit at Rs 14.21 crore a year ago. The consolidated total income from operations for July-September 2015 rose to Rs 602.45 crore, from Rs 506.96 crore in the year-ago period.
The Chennai-based company had registered net profit of Rs 71.90 crore during the January-March quarter of the previous fiscal, 2013-14.
With VA Tech WABAG‘s 70 percent business coming from the government, its current global order book stands at Rs 5,500 crore, says company MD & CEO Rajiv Mittal.
VA Tech Wabag currently has a firm order book of Rs 5,000 crore and it further has framework orders of close to Rs 1,100 crore, according to CEO Rajiv Mittal.
Rajiv Mittal, MD, VA Tech Wabag, says that government orders constitute 70-80% of our total order book.
VA Tech Wabag is seeking acquisition targets to expand its footprint in South America and hopes to become a 1 billion euro company by sales in the next five years.
VA Tech Wabag is seeking acquisition targets to expand its footprint in South America and hopes to become a 1 billion euro company by sales in the next five years in its bid to become among the top three players in the global water and waste water management business.
The economic health of European countries has raised concerns about VA Tech Wabag’s revenues from those nations. However, Rajiv Mittal, managing director of the company told CNBC-TV18 that they are experiencing no pressure on margins from that market.
Speaking to CNBC-TV18, Rajiv Mittal, managing director of VA Tech Wabag, said that the company’s performance would have been upbeat if exceptional item could have been avoided. However, he added that there is an increase of 20% in the company's orderbook this year compared to the last year.