Order book as on date is Rs 6263 crore. Of the total order book there is no escalation clause for orders worth Rs 1300 crore. Work on 90% of the order book is already started and 10% job is yet to be taken up.

Expects 12% growth in topline in FY12 but the profits will be under pressure with significant contribution to topline from lower margin orders. Moreover with escalating input prices further aggravated by recent hike in fuel prices severely hurts profits in the fixed price contracts. Even in contracts where the company has escalation clause does not get the rise in input prices fully covered by the escalation. Working capital cycle elongated on account of shift towards long gestation infra projects as well as shift of point of taxation of service tax from receipts basis to service provision. This in turn puts pressure on cash flow, interest cost and profitability. Next 6-8 quarters will be tough period for the company. The competition is intense and the company expects this will lead to separation of strong from weak. The company will be cherry picking the orders that fall within its profitability expectation/targets.

Expects to be country's top 4 construction company by 2020.

While the Meenakshi power Phase II contract is progressing well, the second power contract for the company worth Rs 600 crore has been non starter as the public hearing is yet to complete. The company will start mobilisation only after getting 10% advance payment.

The company has so far invested about Rs 114 crore in the development subsidiary.

Once the company sees value enhancement in all the subsidiaries it will consider equity dilution in due course.

Consolidated Interiors, a subsidiary of the company has more than doubled its revenue to Rs 50.9 crore in FY11 up from Rs 21.7 crore in FY10. The order book as end of March 31, 2011 was Rs 40.6 crore. The company is looking at expanding its product to branded furniture and looking for bringing in a strategic partner by diluting equity in the company.

Similarly the company is also diluting its stake in the Delhi South Extension Car Park, which is executing the multilevel carparking project worth Rs 270 crore in Delhi on BOOT basis. About 10% equity will be picked up by Samjung Tech.

The Noble Consolidated Glazing is to set up a facility for ready made windows etc and the company has already invested about Rs 2 crore in land and another Rs 2-3 crore will be spent on machinery. The company is not currently looking at equity dilution in the company.

About Rs 500 crore is the remaining work at Chennai Airport, which is expected to be completed by Dec 2011. About Rs 150 crore is expected to be recognised from ONGC corporate office project worth Rs 431 crore.

The company has identified an US company for its precast facility. The company has already invested in land and that will be its equity contribution. The precast facility will help the company to address the labour cost escalation as well as shortage.