IVRCL Infrastructures & Projects expects the order book to rise to Rs 32,000 crore in FY11 on a rise in government orders, even as its FY10 net profit was hurt by a rise in income tax.
The construction firm is expecting orders from roads, power transmission, water, building of industrial structures and oil gas sectors. IVRCL Infrastructure has posted a net profit of Rs 211 crore for FY10, down from Rs 226 crore a year ago, while March-quarter profit rose 6.7 per cent to Rs 85.24 crore. The company's bottomline was hurt by the withdrawal of a tax rebate which pushed up its tax rate to 33 per cent in FY10 from 17-18 per cent in FY09.
Its order book stood at Rs 23,400 crore as on May 29, and the Hyderabad-based firm has bid for orders worth Rs 19,500 crore. IVRCL expects Rs 7,000 crore revenue in FY11 up from around Rs 5,500 crore this year.
The company, which has a net debt of Rs 1,450 crore as on March 31, is also hopeful of bagging some projects in a month's time. IVRCL is also looking at selling off parts of its land bank across Chennai,
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 3973.60 |
| Rail Vikas Nigam | 305.00 |
| NCC | 169.85 |
| KEC International | 598.10 |
| Kalpataru Projects | 1274.45 |
| View more.. | |
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