NIFTY 50

Diversifying into urban infra; adequately funded for projects, says Gayatri Projects’ Sandeep Reddy

Updated : February 25, 2021 06:02:51 IST

TV Sandeep Reddy, managing director (MD) of Gayatri Projects, on Thursday said the company is trying to diversify more into urban infrastructure.

Gayatri Projects has received a letter of award from the National Highways Authority of India (NHAI) for Rs 1,323 crore project. The order is for 6-lane access on the Saharanpur highway and is part of the Bharatmala project.

In an interview to CNBC-TV18, Reddy said, “This is one of the new areas where we have ventured into. We are now trying to diversify from being a pure road play contractor to structures and where projects have more bridges and urban infrastructure.”

“These projects are all Engineering, procurement, and construction (EPC) where we get an advance also and we get periodical funding for these so there is no requirement of any fund raising for this project,” he said.

On orderbook front, he said that it stands at Rs 13,000 crore as on December 2020. “As on date the orderbook is at Rs 14,000 crore.”

Talking about debt, he said the company will try and reduce debt by Rs 300-400 crore progressively over next four quarters.

For more details, watch the video
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV

recommended for you