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• ET Now: I believe or I would probably say that congratulations are in order for emerging L1 and L2 projects worth 2000 crore. This is fairly large. What does one this take your order book to and because they are such large projects, are the IRRs or the margins are bit squeezed as opposed to what the other projects would be?

• Kishor Kumar Mohanty : We are inching towards an order book of nearly Rs 15000 crore projects in our portfolio and as far as margins are concerned when we bid these projects in the recent times. We have revised our benchmarking of different risk parameters especially the systematic risk and the interest risk. So naturally the projects have been bidded with revised benchmarks, so that it takes care of the downside as well as might be slightly being moderate on the upside. So the bidding process has slightly changed with revised benchmarks.

• ET Now: Do you see more orders coming in the last quarter? What is the expectation on the kind of orders you have been bidding for and the size of the orders?

• Kishor Kumar Mohanty : Very difficult to predict, but yes we are participating into all PPP projects across sectors from power to port to roads and urban development. So naturally we are optimist and we expect that we will get some more orders in the last quarter and especially in the road, there are around 25 to 30 projects coming up in the last quarter. In the port sector also we have made a couple of bids. In the power sector there is nothing much at present, but anyway we look out at all the sectors and we are focused on the basics of procurement of new projects and completing our existing projects.

• ET Now: Give me two numbers. One is that you did mention that you pretty much doing these projects at reasonable IRRs or reasonable margins, what are these IRRs at which these large projects have been bid for?

• Kishor Kumar Mohanty : We bid in the range of 14% to 15% project IRRs generally.

• ET Now: The other thing is you mentioned that you are inching towards Rs 15000 crore. What I am interested in knowing is over the next three months, how many projects or at the current point of time how many projects are you L1 in?

• Kishor Kumar Mohanty : Currently as I mentioned, two bids have been opened where we are in. On one we are single bidder, and we are the L1 on the other bid. But till now we have not got the any LY from the authorities. So it will take some time in the process to get it approved or get rejected before we get L1.

• ET Now: I am essentially trying to figure out if aside of these two projects if you were L1 in any of the other projects as well and the other bid's update?

• Kishor Kumar Mohanty : Not yet, but just to clarify a couple of projects are bidded which are not opened yet. So we do not know the positions.

• ET Now: How large would those be?

• Kishor Kumar Mohanty : There are at least Rs 6000-7000 crore of projects bidded but not open.

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