We are immune to change in governments and don’t expect any slowdown in order awards despite Madhya Pradesh assembly elections and 2019 general elections, said Rohan Suryavanshi, Head, Strategy and Planning, Dilip Buildcon Ltd (DBL).

Speaking to analysts yesterday, Suryavanshi said that over 95% of our orderbook comes from the central agencies such as the National Highways Authority of India (NHAI) and the Ministry of Road Transport and Highways, Coal India Ltd etc.

Suryavanshi clarified that five percent pledge of promoter shareholding is temporary and will be released over next three-five months, when we achieve the financial closure of all projects.

The promoter shareholding in DBL is about 76%. Of the promoter shareholding, a very small portion, about 5% or so is being pledged. So it’s nothing that is major, he said.

Suryavanshi said the company expects financial closure for six projects in Q2 with an average cost of borrowing of 9.5-9.7%.

Order inflow for road sector has been slow in Q1, but we are happy to announce that even in this quarter, we have won orders of about Rs 3,000 crore, he added.