Road construction and infrastructure firm, Sadbhav Engineering Ltd, on Friday said it's on track to achieve its topline guidance of over Rs 3,800 crore in FY19.
In an interview to CNBC-TV18, Nitin Patel, executive director, said the company is currently sitting on Rs 13,000 crore of the order book and there is clear visibility for the next three years on the back of construction activity.
When asked about execution slowdown in Q3, Patel said, "The projects that Sadbhav Engineering started are on track, but the execution was delayed for some projects due to various issues and are now pushed to Q1 of FY20."
He said profits were impacted in Q3 as the tax was higher in the quarter as certain exemptions expired, "However, going forward MAT credit will help reduce tax liability in FY20."
Sadbhav Engineering reported a nine percent year-on-year (YoY) drop in net profit. TheYoY EBITDA was also up 4.9 percent and EBITDA margins came at 12 percent against 12.6 percent YoY.