@kdjolly firstly, I dont know who Sandeep Singh is.
Secondly, what you have stated is a motherhood statement without understanding the nuances of infrastructure and cosntruction contracting.
An infra company is one who owns the asset forever or owns it for a limited period time in a BOT (built own operate) project. They need to finance the project. Let us say the cost of the project is 100 (90 of hard costs and 10 of interest capitalized during construction). The infra company arranges 100 to finance (maybe 70 of debt from banks and 30 of own equity). If the economics of the project dont make sense the infra company defaults on the 70 of debt which is the NPA you are talking about.
RBM Infracon is a not an Infra company. It is an infrastructure construction company. The infra asset owner contracts out construction of the assets to people like RBM. So the loans are not on RBM’s books.
For example in the 2013-2018 period infra companies like Jaiprakash Associates, Lanco Infratech etc went belly up. The constructors like L&T etc are still around.
If you are trying to suggest ONGC, Adani, Nayara Energy and RIL who own the asset are going to go belly up and that will lead to orders given to RBM Infra getting cancelled then its different.
There are execution risks which i understand. Can such a small SME company execute such a large order backlog? Can they generate cash flow from operations? These are some of the valid concerns. Your concerns seem to random to me.
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