Reliance Infrastructure will look to grow its EPC (engineering, procurement and construction) order book to Rs 30,000 crore from the current Rs 3,000 crore in the next 9 months, on the back of government orders across infrastructure sectors.
Speaking on the sideline of its earnings announcement on Tuesday, Lalit Jalan, CEO, Reliance Infrastructure said the company has submitted Rs 15,000 crore worth of EPC bids in the last three months and will be submitting another Rs 20,000 crore in the coming quarter.
“Government has planned Rs 2 lakh crore worth of EPC opportunities, and we are targeting a significant portion from these. We have been focusing on orders coming in roads, power, transportation, inland waterways and ports segments”, he said. However, Jalan said that the company will “not bid aggressively and not sacrifice on margins”.
Reliance Infrastructure posted a year-on-year increase of 7% in the company’s consolidated net profit at R439 crore during the quarter ended June 30, 2016.
Its defence business registered a net loss of Rs 50 crore during the quarter. The company’s consolidated total income remained flat at Rs 7,640 crore. RInfra’s standalone debt stands at Rs 14,000 crore at the end of June 30, 2016, against Rs 16,000 crore as on March 31, 2016. The consolidated debt is reduced to Rs 21,000 crore from Rs 25,000 crore as on March 31, 2016.