Even I couldn’t find JV details & hence taken 50:50 jv assumption for the calculation of orderbook.
Now even at 1320 Cr, they need to execute it within 12 months – so it makes 10% of their revenue for FY 25 – which is good considering their first year in this segment ( calculations are based on 50:50 jv assumption – which I havent verified )
On ITD cementation – They have very good diversified orderbook and thats why they enjoy premium. Infra companies with good diversification is a positive factor in their valuation
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