Finance Minister Arun Jaitley has given a big push to infrastructure in the Union Budget. In an exclusive interview with Moneycontrol's Malini Bhupta, the managing director of Ashoka Buildcon, Satish Parakh, said a lot more needs to be done to achieve the 40 km/day target set by the roads ministry.
The timeline of execution for the order will be a period of 18 months and the company‘s balance orderbook now stands at Rs 5001 crore, Satish Parakh, MD, Ashoka Buildcon tells CNBC-TV18.
The current order book for the company including that of power, T&D and roads stand at Rs 3100 crore, said Satish Parakh, MD, Ashoka Buildcon.
The overall allocation to foreign institutional investors is about 40 per cent and domestic insurance firms accounted for the balance, ensuring a well diversified representation and demand from all significant global investors, Ashoka Buildcon said.
The company has two projects, Dankuni Kharagpur and Belgaum Dharwad, that are likely to benefit from the move.
Ashoka Buildcon has been witnessing slowdown in toll collection over past three quarters across India.
The company had to handover one of the project back to government during the quarter leading to fall in revenue, says Satish Parakh, MD, Ashoka Buildcon.