 "IRB hopes to bag BOT projects of 300-400 km in 2015-16")
IRB Infrastructure Developers Ltd hopes to bag build-own-transfer (BOT) road projects of 300 to 400 km during the current fiscal. The company has already added two new projects in its kitty during the last few months -- the Mumbai Pune Phase II and the Agra Etawah Six-laning Project.
Company chairman Virendra D Mhaiskar today informed shareholders at the 17th annual general meeting in Mumbai, that IRB's order book has reached to around Rs 12,631 crore. ''Of this, Rs 10,770 crore construction order book is to be executed over the next 3-4 years, which provides good visibility to our construction vertical,'' he said.
Mhaiskar said during 2014-15 there was a strong surge in the company's BOT revenues owing to multiple factors like commencing of toll operation of new projects, increase in traffic volume and revision in the tariff rate for a few of the key projects.
''With execution picking up for under construction projects & increasing number of BOT projects getting operational, along with improving traffic volume, we see continued growth in our cash flows from operations. This will enable us to sustain our growth momentum,'' Mhaiskar opined.
IRB's Q1 net rose by 11% to Rs 166 crore for 2015-16 compared to Rs 150 crore for the corresponding period last year.