IRCON International Aims to Secure Rs 10,000 - 12,000 Crore Orders in FY 2023-24

10 Aug 2023 , 10:22 AM

Engineering and construction firm IRCON International has set its sights on obtaining orders worth Rs 10,000 – 12,000 crore for the fiscal year 2023-24. Ragini Advani, the company’s Director of Finance, unveiled this ambitious target during an analyst call following the release of earnings.

IRCON International plans to conclude the fiscal year with a robust order book totaling Rs 35,000 crore. Anticipated new orders are expected to fall within the range of Rs 10,000 – 12,000 crore. The company’s Director of Finance, Ragini Advani, expressed confidence in winning major contracts pending the receipt of the letter of award. Factors such as technical expertise, historical pricing, and advanced project discussions are expected to contribute to contract wins.

Despite experiencing a sluggish order inflow in the initial quarter of FY 2023-24, Ragini Advani affirmed IRCON’s confidence in securing substantial projects. The company has redirected its efforts towards marketing and business development in the current fiscal year after focusing on order execution in the previous year.

In the quarter ending June 2023, IRCON International secured orders ranging from Rs 200 crore to Rs 250 crore. As of June 30, 2023, the company’s total order book was valued at Rs 32,486 crore. The order book is categorized among railway projects (Rs 23,613 crore), highway projects (Rs 6,906 crore), and other segments (Rs 1,967 crore).

 IRCON International, classified as a Miniratna (Category – I) public sector enterprise, specializes in turnkey construction projects, particularly railway and highway projects.

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