B L Kashyap & Sons Q1 FY24 Revenue at Rs 252.45 cr

Delhi, August 9, 2023: B L Kashyap & Sons Limited, one of the leading Civil Engineering and Construction Company announced their financial results for the first quarter of fiscal year 2023-24. During Q1FY24, the company reported revenue of Rs 252.45 crore, a deficit of 11.6% over the corresponding quarter revenue of Rs 285.61 crore in Q1FY23. PAT of Rs 11.95 crore during the first quarter of FY2023 – 24 is 19.52% lower than the corresponding quarter PAT of Rs 14.85 Cr crore in the previous fiscal year.

The latest order secured from DLF Home Developers Limited was of Rs. 369 crore and the current order book stands at approx Rs. 2838 crore.

Commenting on the results,  Vineet Kashyap, Managing Director, B L Kashyap & Sons Ltd. said, “We are pleased to announce that  Vishal Sharat Ohri, ex-CGM (Retd.), State Bank of India (SBI) joins our board as nominee director representing the bank. B L Kashyap is inching towards achieving its revenue targets set for FY 23-24 with healthy margin. The company has received rating by CRISIL, the highest ratings achieved in 12 years. The External Credit Ratings (ECR) by CRISIL has been upgraded to ‘B Minus Stable’ grade. We are hopefully with our future performance the rating will move higher.”

Kashyap further added that, “The revenue in the first quarter had been impacted due to the delays on account of late miletstone billings and some labour shortages because of elections in states. Revenues will be streamlined from Q2FY24 onwards. The average order execution cycle is 18 – 24 months. Going forward, the company’s growth will be aided by strong execution of the order book and robust momentum in the construction and infrastructure sector as can be seen by the heavy    inflow of projects. Our business development efforts are centred around focusing on selective tenders from government and high margin private jobs. Tapping of new clients is actively being pursued.”