Highlights of the call:

During the quarter standalone sales stood at Rs 347.83 crore against Rs 300.95 crore.

Standalone PAT stood at Rs 21.38 crore against Rs 8.08 crore.

During the quarter consolidated sales stood at Rs 351.67 crore against Rs 304.34 crore.

Consolidated PAT stood at Rs 21.97 crore against Rs 8.63 crore.

Q2 being monsoon season is the worst for the company.

As per current trends, for FY 2015 on standalone basis, the management expects to register sales of Rs 1975 crore, EBITDA of Rs 240 crore, PBT of Rs 133 crore and PAT of Rs 92 crore.

As per current trends, for FY 2015, the management expects toll collection of Rs 19 crore and PAT of Rs 3 crore.

The company has formed 100% subsidiary to avail of the BOT projects business going forward.

The company does not take any revenue from sub contract basis. It is a prime contractor for selected clients like NHAI etc.

The current government is stable which is also proactive towards growth. The company envisages good growth from NHAI, Metro, Water sanitation, and BOT projects going forward. It is witnessing good order flow from NHAI and metro.

The management has seen good improvement at ground level for the road contract business due to metro and smart cities. This will be implemented very shortly.

Intensity of competition has decreased for NHAI projects and the company expects this to continue as offering will be more and number of players will be less.

The company has adopted strategy of slow and steady but aggressive whenever there is opportunity for faster growth.

The company has unexecuted order book of Rs 2200 crore. OPM for Rs 2200 crore orders should be in the range of 11-14%.

Out of the orders road comprises for 58%, operation and maintenance 19%, building and housing 17% and railways including metro comprise of 6%.  

Order inflow was Rs 500 crore in first six months.

There are 28 big projects in pipeline worth Rs 10000 crore for which the company has put its bid. Bids are open in some and the company has been shortlisted in some. It expects order inflow of Rs 3000 crore in next 2 quarters.

For H1 OPM was around 12.4% and the management expects OPM to be in the range of 11.25-11.4% for H2 2015.

Tax is low due to profits coming from JV which is exempted.

The company has been paying increasing dividend since long. The company has discussed the dividend policy but not announced. Going forward the rate of dividend will be incremental.

Average cost of debt for working capital is 12.75% but it is expected to decline going forward due to expected reduction in interest rates.

Long term debt for ECB is 9%.

In BOT project the company's IRR is about 15% as it is very selective with the BOT projects.

For FY 2016 on standalone basis, the management expects to register sales of Rs 2600 crore, EBITDA of Rs 300 crore and PAT of Rs 146 crore.