Speaking to CNBC-TV18 about this order, MD Khattar said that the total cost of this project is likely to rise as the company will opt for mechanical, electrical and plumbing (MEP) work. Further, he added that the MEP work constitutes about 20 percent of the total cost of the project, so its value may go up by around Rs 150 crore.
The company eyes around Rs 50 crore from the project for this year.
Below is the verbatim transcript of MD Khattar's interview on CNBC-TV18
Q: With regards to this order win, how much of it will flow in this year itself and in the next year? What would be the margins on this order?
A: This project is in Mumbai and the total value is about Rs 675 crore plus it will go up because we are also going to do the mechanical, electrical and plumbing (MEP) work for which the design and everything is underway. Therefore, this year we should be able to do something like Rs 50 crore out of it, which will be the preliminaries and the remaining will come in, total period to complete the job is about 39 months and so, it will be spread over the next two years and a little beyond this.
Q: It is a residential project but would this be a completely new segment for the company that you are entering into?
A: For the residential and everything we are doing, we have done a very big job in Hyderabad for the Hill County, we are doing something for Mahindra Lifespaces also in Hyderabad and we are doing three-four projects in Gurgaon as well, but they are not as high as this. Those are about 13-18 storey, this is very high.
Q: You said the value of the project could go up, can you tell us by how much?
A: Typically, the MEP work is about 20 percent of the total cost of the project so may be around Rs 150 crore or something.
Q: What is your order book in other segments?
A: We have a healthy position in sectors including buildings, roadside, oil and gas and also irrigation. In railways we won some jobs recently and so, it is just going on in all the sectors. Also, we have a company in Saudi Arabia which is a joint venture and we have 55 percent holding there. There too, we have about 900 million Saudi riyal worth of jobs, which is going on in residential and part of the work is also on airport.
ILandFS Engg stock price
On November 06, 2013, ILandFS Engineering and Construction Company closed at Rs 38.20, up Rs 1.65, or 4.51 percent. The 52-week high of the share was Rs 67.95 and the 52-week low was Rs 19.40.
The latest book value of the company is Rs 18.06 per share. At current value, the price-to-book value of the company was 2.12.
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