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Wednesday, June 20, 2007

Simplex Infra - Order Book Set To Swell

Simplex Infra Expecting Huge Order

According to sources, Simplex Infrastructure may be gearing up to bag another Rs 1000 crore from West Asia. The order may be for a housing project. Simplex Infra will execute the order in two to three years.

Simplex Infra management had tendered for few other orders, but refused to divulge details. The company's current order book is at about Rs 7,000 crore.

Simplex Infra had recently bagged a Rs 1,000 crore order from two overseas companies. But they are eyeing a fresh order of the same size in the Middle East. Sources say they are in the final stages of negotiation.

This order will contibute to about 12-15% of their current order book size of Rs 7,000 crore. Housing projects contibute around 28-29% of Simplex Infra's revenues. Operating profit margins are expected to be better than normal, around 12-13%. And it is expected to be a paid contract and not BOT.

If this order is executed, the revenues coming from the Middle East will go up from 30% to 35%. The rationale behind this could be that, the company is slowy trying to reduce revenues that come in from the government side from 60% to 50%. This could also be a precursor to more projects from the Middle East.

If this order comes through, the total kitty of Simplex Infra will go to Rs 8,000 crore.

Disclaimer: This is source-based information and has not been provided to the stock-exchanges.

Source : Moneycontrol.com

Labels: Simplex Infra

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