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    AP govt's decision to cancel projects will not affect Dilip Buildcon, says Rohan Suryavanshi

    infrastructure | IST

    AP govt's decision to cancel projects will not affect Dilip Buildcon, says Rohan Suryavanshi

    Road construction firm Dilip Buildcon on Tuesday said that Andhra Pradesh government's decision to cancel projects sanctioned prior to April 1, 2019 will not affect it.
    "There is no impact, especially because 85 percent of our order book is from the national government,” said Rohan Suryavanshi, head-strategy and planning.
    YSR Congress Party chief Y S Jaganmohan Reddy, hours after he assumed office, decided to cancel all projects sanctioned prior to April 1, 2019, by the previous N Chandrababu Naidu government but work on which was yet to take-off, reported PTI.
    On a four-lane project in Telangana and the engineering, procurement and construction (EPC) contract that Dilip Buildcon bagged in Uttar Pradesh (UP), Suryavanshi said, “The EPC project has been awarded to us a while back. We were just awaiting the appointed date because last year the government had awarded a lot of projects at one go.”
    “We have received the appointed date and the hybrid annuity model (HAM) project, the financial closure was done way before. It was just that we were awaiting the appointed date so that the government has 80 percent land. Now that has also been achieved. So we have already started work on it and we will see a good progress in the coming quarters in those projects,” he added.
    Talking about business, he said, “The growth is looking very robust. We have a very strong orderbook. Last year we delivered almost about 20 percent of growth and in this financial year we are expecting between 15-20 percent of topline growth along with bottomline growth in the same manner.”
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