SECTOR: CONSTRUCTION & CONTRACTING Bharat Road Network Bharat Road Network (BRNL) is a road BOT company in India focused on development, implementation, operation and maintenance of roads and highways projects. The company has a project portfolio worth Rs.68 billion consisting of six BOT projects, of which, five are operational and one is under construction and expected to be operational this year. Bajrang Kumar Choudhary, Managing Director, shares more… One decision you consider the biggest contributor to the company’s growth in FY2018-19: Considering that the environment was not too conducive for portfolio expansion, we decided to emphasise on enhancing operational excellence and creating value in existing assets through a focused strategy. This included exemption control and an integrated approach towards fully automated tolling operation and maintenance. One single factor you avoided that could have impacted the company’s top-line and bottom-line: We remained cautiously optimistic towards portfolio expansion owing to the current liquidity stress in the market triggered by the lenders’ inability to enhance their exposure in the sector. We were consciously selective in our project evaluation and focused on operational excellence and claim realisation. Plans for FY2019-20: While we remain committed to realising value for existing portfolios, we will remain selective in portfolio expansion through primary and secondary market opportunities until we find the liquidity condition has improved significantly and the expected return on projects would match our defined parameters. However, we would like to assure investors that our continuous focus on value accretion through portfolio churning is expected to yield healthy returns.