B L Kashyap anticipates 24% growth in FY24

B L Kashyap & Sons, one of the leading civil, engineering and construction company, expects a 24% growth in revenue to Rs 1300 crore in FY24, led by commercial and government projects. The firm has secured new orders worth Rs 700 crore in the last six months, including the redevelopment of the railway in railway project at Bijwasan from the Railway land development authority, Embassy business hub phase II and Nzuri business park in Pune.“There has been robust growth in order intake during the year and a substantial jump in order book position at the end of the financial year, clearly giving strong visibility of earnings in the coming years. With a stronger order book and execution visibility, the company would leverage on the scale of operations resulting in improvement in margins and profitability in the future. We have focused on strengthening the balance sheet with debt reduction plans,” said Vineet Kashyap, Managing Director, B L Kashyap & Sons Ltd.Currently, the company has around 60% of its order boom from the commercial segment, while the remaining 40% is from government orders.“The infrastructure development in our country is at an all-time high. While we continue to focus on the commercial segment, we do expect the next phase of growth to come from the government projects,” he said.BLK has completed over 250 projects totalling over 125 million sq. ft. The company has ten mn sq ft of projects under construction across major cities like Delhi, Mumbai, Hyderabad and Bengaluru, amongst others. The company’s portfolio includes IT campuses, office space, malls, hotels and residential complexes, amongst others.