Gayatri Projects has won Rs 1,363-crore irrigation order in joint venture (JV) with two companies. "We have a JV with 70 percent share and other two partners own 30 percent", TV Sandeep Reddy of Gayatri Projects told CNBC-TV18.
Gayatri Projects, the flagship company of the Gayatri Group, reported their quarterly earnings for the quarter ended December 2016.
The company is expecting ramp up in execution in the third quarter. Focus is also on reducing long-term loans, TV Sandeep Reddy, MD of Gayatri Projects said.
The total orderbook for Gayatri Projects at the end of December quarter is around Rs 6000 crore, said managing director, TV Sandeep Reddy.
In an interview to CNBC-TV18, TV Sandeep Reddy, managing director of Gayatri Projects said, rights were supposed to be completed before June, but SEBI clearance was delayed. “We are hoping to get the SEBI clearance shortly. And then we would probably complete the rights issue before December.”
In an interview with CNBC-TV18, TV Sandeep Reddy, MD, Gayatri Projects, spoke about the latest happenings in his company and sector.