Punj Lloyd Group Boasts Revenue Growth of 69%
Punj Lloyd Group has announced its financial results for the first half (H1) and second quarter of FY2009.
The Group has recorded consolidated income of Rs. 5,633 crore, up by 69% as compared to the corresponding previous period (H1 FY2008). Operating profits (EBIDTA) have increased by 88% to Rs.669 crore in H1 FY2009 as compared to Rs.356 crore in H1 FY2008. Profit after Tax (PAT) has increased by 72% to Rs.256 crore as compared to Rs.149 crore in H1 FY2008. Basic EPS for H1 FY2009 stands at Rs. 8.44.
On a quarter basis, the Group has recorded consolidated income of Rs. 2,954 crore, up by 53% as compared to the corresponding previous period (Q2 FY2008). Operating profits (EBIDTA) have increased by 77% to Rs.363 crore in Q2 FY2009 as compared to Rs.205 crore in Q2 FY2008. Profit after Tax (PAT) has increased by 60% to Rs.144 crore as compared to Rs.90 crore in Q2 FY2008. Basic EPS for Q2 FY2009 stands at Rs. 4.94.
Speaking on the results, Punj Lloyd Group Chairman, Atul Punj said, "I am delighted to report strong operating and financial growth in a challenging macro environment. Our global business presence, proven capabilities across a variety of segments, a focus on executing large projects, strategic partnerships and a highly credible client order book gives us the confidence to maintain a long term robust outlook of our performance.
"This quarter we bagged prestigious orders from Qatar Petroleum of over Rs 3636 crore and GVK Power of Rs. 1005 crore amongst others, which bear testimony to the high level of our competencies. Another encouraging development was that of Punj Lloyd Upstream winning its first drilling contract in Libya from Waha Oil
"Our present order backlog provides strong visibility for next 18 months and the volume of bidding activities continues to be strong. Our model and our credentials are globally well established and we are in a very strong position to be able to bid for large profitable projects in domestic and international markets."
As on September 30, 2008, Punj Lloyd Group had an order backlog of Rs 21,675 crore (the order backlog is the value of unexecuted orders on 01st October, 2008 and new orders received after that day).
In terms of geographical contribution, the Group’s current order backlog comprises 28% from South Asia, 4% from Caspian, 26% from Middle East, 37% from South East Asia & Asia Pacific and 5% from rest of the world.
Recently, Punj Lloyd Group has received the following key orders:
- Engineering, Procurement, Installation and Commissioning of Strategic Gas Transmission Project worth Rs 3,636 crore from Qatar Petroleum. The project includes laying of 211 km of pipeline with associated stations and infrastructure
- Punj Lloyd Upstream received a contract worth Rs 190 crore from Waha Oil Company in Libya for the deployment of two onshore rigs
- Punj Lloyd Pte Ltd bagged a contract worth Rs 167 crore from FWP Joint Venture to carry out select utilities mechanical works on Jurong Island, Singapore
- Punj Lloyd Limited secured a contract worth Rs. 1,005 crore from GVK Power for 2x270 MW thermal power station in Punjab, India.
- Punj Lloyd Limited secured a contract worth Rs. 464 crore from Tecnicas Reunidas, Spain for mechanical work on 2 offsites and utilities project at Abu Dhabi.
- Court Orders Payment Freeze on Swiber's Bank Guarantee for Indian Projects (Aug 10)
- Punj Lloyd Group Bags Pipeline Service Contract for India's Mangla Project (Jan 08)
- Punj Lloyd Group Boasts Revenue Growth of 69% (Oct 23)