financetom
Business
financetom
/
Business
/
Margin should remain strong; toll collections showing good traction: IRB Infra
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Margin should remain strong; toll collections showing good traction: IRB Infra
Jan 4, 2022 8:19 AM

IRB Infrastructure Developers has strong project management capacities and the company expects the margin to remain strong going ahead, VD Mhaiskar, chairman and managing director at the company said.

In an interview with CNBC-TV18, he said toll collections have been showing good traction. But, he added the company's run rate has been sluggish as some of the projects are still close to financial closures. Mhaiskar said the company will be able to deleverage at a time when "we are seeing great traction in the orders."

“Two large investors; one is a very strategic investor having a global footprint and the other one is a sovereign wealth fund who have put in a significant amount of money into the company and we have ended raising Rs 5,000 crore odd of equity capital into the company and that puts the company on a solid footing,” he said.

Also Read: India’s divestment drive and the road ahead

“This gives us both the elements that we were looking for. One, to deleverage the balance sheet and have money for growth capital given the fact that we are at a stage where we can see a significant amount of project pipeline,” said Mhaiskar.

Also Read: IRB Infrastructure receives letter of award for Ganga Expressway project group-1

Talking about orderbook, Mhaiskar said, “The orderbook has now swelled to Rs 19,000 crore of which Rs 13,000 crore of order is on construction vertical and that gives two-and-a-half-three years of visibility. So we will be choosy in picking up projects.”

For the entire management interview, watch the video

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
China's BYD lowers starting price of its lowest-priced EV model Seagull by 5.4%
China's BYD lowers starting price of its lowest-priced EV model Seagull by 5.4%
Mar 5, 2024
BEIJING (Reuters) - Chinese electric vehicle (EV) giant BYD on Wednesday lowered the starting price on a new version of its lowest-priced EV model Seagull by 5.4% from the model it replaced, adding fuel to a raging price war in the world's largest auto market. The reduction brought the basic price of the affordable Seagull lineup to 69,800 yuan ($9,697.41)....
Australia's Qantas fined for firing worker who raised COVID-19 safety concerns
Australia's Qantas fined for firing worker who raised COVID-19 safety concerns
Mar 5, 2024
SYDNEY (Reuters) - Australia's Qantas Airways ( QUBSF ) has been fined A$250,000 ($162,375) for illegally sacking an employee who told staff not to clean aircraft arriving from China early in the COVID-19 pandemic, adding to the airline's reputational challenges. The New South Wales state district court issued the fine on Wednesday after finding the carrier guilty last year of...
New York sues cash advance provider Yellowstone for $1.4 billion, alleges predatory lending
New York sues cash advance provider Yellowstone for $1.4 billion, alleges predatory lending
Mar 5, 2024
NEW YORK (Reuters) - New York Attorney General Letitia James sued the cash advance provider Yellowstone Capital for $1.4 billion on Tuesday, saying it ran a large-scale predatory lending operation that charged sky-high interest rates on fraudulent loans. The complaint accused Yellowstone, now known as Delta Bridge Funding or Cloudfund, of falsely stating they would buy specified percentages of merchants'...
US safety board needs more funding for rail, air safety probes, chair says
US safety board needs more funding for rail, air safety probes, chair says
Mar 5, 2024
WASHINGTON (Reuters) - The chair of the National Transportation Safety Board will tell the Senate Commerce Committee on Wednesday the agency needs more funding and warn cuts could put probes into aviation and rail accidents at risk. NTSB Chair Jennifer Homendy will tell a committee hearing, in written testimony seen by Reuters, that funding levels in a Senate bill would...
Copyright 2023-2026 - www.financetom.com All Rights Reserved