Key take aways of the call

Order intake in Q1FY16 was Rs 676 crore. The net order book as end of June 2015 was Rs 3752.95 crore which will be executed in next 24 to 30 months. Of the order book residential is 44%, institutional is 22%, infra is 13%, industrial 1%, Hotel is 1%, hospitals 16% and commercial is 3%. The net order book as of date is Rs 4100 crore and further the company is L1 in orders worth about Rs 450 crore.

Of the residential order book of about Rs 1300-1400 crore about Rs 335 crore is DDA order and rest are from private developers. Some these private developer orders are slow moving. While the orders of Indiabulls and Prateek are moving well that of some others such as Jaiprakash are slow moving.

Against a target of 1600 crore order intake the company has already bagged orders worth Rs 1000 crore so far and L1 in orders worth Rs 450 crore the company is comfortable and in a position to pick and choose orders. Of these new orders about 90% is government orders. These are largely in institutional and hospitals and consciously avoiding or choosy as far as private residential projects. Apart from this the company has an order pipeline of is Rs 2000 crore. Debt as on June 2015 is Rs 125 crore.

In metro segment the company is looking for elevated stations orders which is the forte of the company.

The company maintains revenue growth of 20-25% for FY16 and FY17 as well. The company will maintain EBITDA margin of 12-12.5% for FY16.

Slow-moving or low margin orders amount Rs 250 crore. Some of these orders are not at all moving and the company is looking at exiting these projects.

Kota BOT Bus terminal with commercial space project: Investment of the company in Kota project is Rs 70 crore. Once the commercial real estate market picks up the company is not averse to exit from the project.