Amit Sengupta, ED, VA Tech Wabag says the company‘s European market business is witnessing recovery, and its footing in the domestic market remains strong. The company has bagged orders worth around Rs 450 crore since April 1, and expects to add more by June.
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.