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Punj Lloyd bags order worth `210cr
Punj Lloyd has bagged a civil contract for a thermal power plant from NTPC worth `210cr.
The order involves undertaking balance-offloaded work for the power plant in
Bongaigaon, Assam, and is expected to be completed by 2014.
The scope of the work entails underground civil work; piling and foundations for over
ground civil; structural and architectural work for buildings such as main plant, air washer,
ESP control, service, mill, bunker and conveyor galleries; and construction of the
administration building and auditorium, the O&M workshop and the CHP office-cumworkshop
in the offsite area. With this order, the company’s total outstanding order book
stands at ~`25,409cr (3.1x FY2011 revenue). Owing to the uncertainty over receivable
claims and overhangs on the stock because of lack of clarity on various issues (execution,
margin and Libyan projects) and slowdown in order inflow, we maintain our Neutral view
on the stock.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Punj Lloyd bags order worth `210cr
Punj Lloyd has bagged a civil contract for a thermal power plant from NTPC worth `210cr.
The order involves undertaking balance-offloaded work for the power plant in
Bongaigaon, Assam, and is expected to be completed by 2014.
The scope of the work entails underground civil work; piling and foundations for over
ground civil; structural and architectural work for buildings such as main plant, air washer,
ESP control, service, mill, bunker and conveyor galleries; and construction of the
administration building and auditorium, the O&M workshop and the CHP office-cumworkshop
in the offsite area. With this order, the company’s total outstanding order book
stands at ~`25,409cr (3.1x FY2011 revenue). Owing to the uncertainty over receivable
claims and overhangs on the stock because of lack of clarity on various issues (execution,
margin and Libyan projects) and slowdown in order inflow, we maintain our Neutral view
on the stock.
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