Shailendra Kumar Tripathi, Deputy MD & CEO of JMC Projects, on Wednesday, said that we are doing more base work abroad and expect to see more projects from overseas. Tripathi also said that the Maldives order is a significant one for the company. The engineering firm bagged a construction order worth Rs 1,000 crore with the government of Maldives to build 2,000 social housing units in Hulhumale Island.
“We are doing base work on overseas initiatives and it's taking shape. This (Maldives) order is significant for us because it is one of the highest order for us in terms of building and factories and also it’s an international order which we have been saying from a couple of quarters that we are increasing our presence overseas,” Tripathi told CNBC-TV18.
On debt, he said, “If you look at quarter-on-quarter, our overall debt has come down, from the beginning of the year to this we are down by Rs 150 crore and see a further dip in Q4.”
By the end of the Q4, the orderbook will be over Rs 15,000 crore, said Tripathi.
“At the end of December 2020 we were at Rs 14,000 crore and we have L1 (The lowest of offers is selected and awarded the tender) positions in about Rs 2,500 crore and this Rs 1,000 crore adds to Rs 3,500 crore L1 position. So at the end of Q4, we will be looking at a number which will be Rs 15,000 crore plus and we will be exceeding our previous guidance which was Rs 7,000-7,500 crore overall order book for the year.”
For full management commentary, watch the video