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Consolidated Construction Says Low Margins Likely for 6 Quarters
S. Sivaramakrishnan, managing director of Consolidated Construction Consortium Ltd. (CCCL), comments on the company’s expected performance for the next six quarters after posting a loss in the three months ended Sept. 30. He spoke by telephone from the southern city of Chennai, where the provider of construction services is based.
“Until the middle of 2013-14, we expect our margins will be low because of interest costs and overheads not getting covered by the business.
‘‘Slowly, we are coming out of fixed-price contracts.
‘‘However, for the quarter ended March 2012, we may be back in the black as we expect to complete three or four projects between 500 million rupees and 3 billion rupees and expect money to come in.
‘‘Whatever new contracts we are bidding now, we have price protection and we will be able to pass on the increase in costs to our customers.’’
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