Construction awaits Rs. 20,000-cr contracts this fiscal

Riding high on the increased pace of project delivery in the past 11 months, which is going to even get better in the coming months with the Central government is going to award projects worth Rs. 20,000 crore by the end of this fiscal, said research analyst at Kotak Securities, Aditya Mongia. In the recent past, most major construction companies have either matched or exceeded order wins this financial year compared to the previous year and adding to the momentum another Rs 1 lakh crore worth of tenders are being converted into orders in the first half of next financial year. The real pick-up will be seen in FY19 as the National Highways Authority of India has already fallen short of its target in the first nine months of FY18 owing to the Goods and Services Tax and other issues. Given their balance sheet strength, infra building majors like Dilip Buildcon, Sadbhav Engineering, KNR Construction, Ashoka Buildcon and PNC Infratech are better placed to receive new orders, he added.