Nagarjuna construction hopes to register 18% growth this fiscal

Hyderabad, November 01: Infrastructure firm Nagarjuna Construction Company hopes to achieve an annual growth of 18% and end the fiscal with a turnover of Rs 5,500 crore.

The robust growth in the next two quarters will come on the back of a strong order-book and execution capabilities Y D Murthy, Executive VP-Finance, NCC told ET Now. The company expects turnover to top Rs 1,400 crore each in the next two quarters, he said

The Hyderabad based company’s turnover stood at Rs 1,068 crore for the quarter ended this year against Rs 1,056 crore for the corresponding period last year. Net profit stood at Rs 43 crore as compared to Rs 42 crore in the period under review.

At the end of the September quarter, the company’s order book stood at Rs 14, 000 crore, comprising of projects executed in the transportation, water, environment, irrigation, power and other verticals.
For the current year the company earmarked a capex of Rs 100 crore out of which Rs 30 crore has been spent in the first half of the fiscal. The company raised Rs 367 crore through qualified institutional placement (QIP) this quarter.

The Group’s principal activity is to construct industrial and commercial buildings. The company’s scrip closed at Rs 147 on the BSE on Friday.