IRB Infrastructure Developers has strong project management capacities and the company expects the margin to remain strong going ahead, VD Mhaiskar, chairman and managing director at the company said.
In an interview with CNBC-TV18, he said toll collections have been showing good traction. But, he added the company's run rate has been sluggish as some of the projects are still close to financial closures. Mhaiskar said the company will be able to deleverage at a time when "we are seeing great traction in the orders."
“Two large investors; one is a very strategic investor having a global footprint and the other one is a sovereign wealth fund who have put in a significant amount of money into the company and we have ended raising Rs 5,000 crore odd of equity capital into the company and that puts the company on a solid footing,” he said.
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“This gives us both the elements that we were looking for. One, to deleverage the balance sheet and have money for growth capital given the fact that we are at a stage where we can see a significant amount of project pipeline,” said Mhaiskar.
Talking about orderbook, Mhaiskar said, “The orderbook has now swelled to Rs 19,000 crore of which Rs 13,000 crore of order is on construction vertical and that gives two-and-a-half-three years of visibility. So we will be choosy in picking up projects.”
For the entire management interview, watch the video