"We are looking at both organic and inorganic growth in India," said Sunil Mathur, Managing Director and Chief Executive Officer, Siemens.

Mathur said the company has missed out on large government or large capex projects. He further said that company is yet to see any revival in large-size projects.

“Our pipeline in very strong, we have an extremely strong order backlog,” he added.

“We are expecting private sector capex to slowly start coming back. Already, we are seeing good signs of that happening and I do believe that that will bounce back,” said Mathur.

Talking about margins, he said, "We have been consistent on margin ranges and our challenge is going to try and maintain that, our focus is on profitability and profitable growth, so we will not compromise on profitability just for the sake of growth."

Siemens has been in focus since it reported its Q2 earnings last week. Weak management commentary and order book has kept the stock under pressure.