Today's Top Gainer
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Virendra D. Mhaiskar, Chairman and Managing Director holds a diploma in civil engineering from Shriram Polytechnic, Navi Mumbai. As a Civil Engineer, he has hands on experience of more than 17 years in the construction and infrastructure industry to his credit. He is responsible for developing new business, executing road construction and BOT projects. He is providing overall vision and strategy to the Company.
RB Infrastructure Ltd is an integrated infrastructure development and construction company in India with significant experience in the toll roads and highways sector. IRB is one of the largest private developers in India with 18 BOT Projects out of which 12 Projects are under operation. IRB has been listed on the NSE and BSE since February 25, 2008.
Yash Ved of IIFL provides highlights of a recent concall where Virendra D. Mhaiskar says “IRB’s order book stands at approximately Rs. 91bn out of which Rs. 71bn worth of order book is to be executed in the next three years.”
Brief us about your financials?
IRB has declared a profit of Rs. 1.43bn on total income of Rs. 9.47bn for the Q3FY13. Income from operations was up by 23% to Rs. 9.14bn for Q3FY13 from Rs. 745 crores for Q3FY12
IRB has also declared 3rd interim dividend of Re. 1 per share for FY13.
Due to strong construction activities, construction revenue increased by 29% in comparison to Q3FY12.
Construction segment Operating EBITDA remains strong at around 26% during the quarter.
Toll revenue has increased by around 10% in comparison to Q3FY12 on the basis of moderate traffic growth and higher Wholesale Price Index in comparison to the last year.
What is your current order book position?
IRB’s order book now stands at approximately Rs. 91bn out of which Rs. 71bn worth of order book is to be executed in the next three years. This order book gives IRB good visibility for the next three years. We will continue to bid for viable projects.
Give us an update on your projects?
From 1st January 2013, IRB has commenced toll collection on its Ahmedabad Vadodara Expressway and construction on NH8, both forming part of Ahmedabad Vadodara BOT Project. The Construction period is 3 years with concession period of 25 years. The average daily toll collection stands at Rs40mn on gross basis.
IRB has also received all requisite approvals to commence work on its Sindhudurg Airport project and accordingly construction will commence shortly. The Project is having total capital outlay of Rs. 3.50bn to be funded with debt equity mix of 2:1 which will be funded from internal accruals.
Brief us about your order bagged in Q3?
IRB has bagged the project of “Four Laning of Goa/ Karnataka Border – Kundapur section of NH- 17 from existing Km 93.700 to Km 283.300 in the State of Karnataka under NHDP Phase IV on Design, Build, Finance Operate and Tranfer (DBFOT) Toll Basis ”
What is your focus area going forward?
We continue to focus on BOT infrastructure projects in the road and highways sector.
We have successfully complete real estate project having land bank of approx. 1200 acres and Airport Project.
We are currently identifying strategic investment opportunities.
What is your current promoter holding?
Our current promoter holding stands at 60%.