TRANSPORTATION

See large orders coming from NHAI and few states, says Ashoka Buildcon CFO

Ashoka Buildcon is expecting a large pipeline of orders from the National Highways Authority of India (NHAI) and a few states, said Paresh Mehta, chief financial officer (CFO) of the company.

Ashoka Buildcon has seen operational improvement in the third quarter. Lower finance costs and tax expenses have lifted the bottom line. Quarterly toll collections too are at their highest level in 3 years.

Speaking in an interview with CNBC-TV18, Mehta said, “We definitely see a large bidding pipeline coming in from NHAI and a few states. So orderbook buildup should definitely be good, at least Rs 5,000-6,000 crore per year buildup every year should be possible and we should be ending 20 percent higher by the year-end.”

“The impact of the pandemic will get covered up by the year-end and the Budget 2021 definitely throws up a lot of positive vibes to the company and it will help a lot,” he said.

Source
CNBC
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