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Power Mech Projects targeting Rs 2,000 crore revenue in FY19

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Power Mech Projects targeting Rs 2,000 crore revenue in FY19

Jun 15, 2018 3:52 AM

The company is targeting Rs 2,000 crore revenues and expect Rs 3,800 crore order inflow in FY19, said Power Mech Projects.

Speaking to CNBC-TV18, Bhupesh Chowdary, chief executive officer, said the company is optimistic of robust order inflow in FY19 to the tune of Rs 3,800 crore and have already got orders worth Rs 1,300 crore in the first quarter.

Chowdary said the company is targeting a 14-15% net profit in FY19. For FY18, we did about Rs 1,555 crore in revenues.

The operations and maintenance (O&M) business contributed around 38% of the total revenues. As of now, it was only power play industrial services but now the company is also looking at non-power O&M services into oil and gas refinery and solar, said Chowdary.

So, 60%of total revenues would be from power and 40% from non-power by FY19-end, he added.

Chowdary said export demand was also looking promising and around 18% of Rs 3,800 order inflow would be international business.

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