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Despite the Covid-19 pandemic, in FY21, Ministry of Road Transport and Highways constructed a record total length of 13,394 kilometres of national highway, translating into 37 kms/day of highway construction whereas in FY20 it had constructed a total length of 10,236kms.
Both, awarding and construction activities have been very strong and as a result, we expect a good end to FY21 for the construction companies.
This strong momentum is expected to continue in FY22 too given the strong order books of the construction companies.
For our coverage companies, we are forecasting 19.5%/7.5%/15% YoY growth in revenue/Ebitda/profit after tax for Q4 FY21.
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