B L Kashyap & Sons Limited one of the leading Civil Engineering and Construction Company released its financial performance for the third quarter of the fiscal year 2023-24. In Q3FY24, the company achieved a revenue of INR 322.99 crore and PAT amounted to INR 8.86 crore. Revenue of INR 901.16 crore and PAT of INR 34.84 crore for the nine months ended on 31st December 2023 as compared to revenue of INR 834 crore and PAT of INR 34.82 crore for the nine months ended on 31st December 2022. Notably, the financial results for the corresponding quarter of the previous year ending on December 31, 2022 recorded revenue of INR 251.37 crore and PAT of INR 9.81 crore.
Commenting on the results, Vineet Kashyap, Managing Director, B L Kashyap & Sons Ltd. said, “Against a backdrop of a dynamic market, the company sustains its growth momentum well into the third quarter of FY2023-24. A notable 28.5% increase in revenues since 2022 underscores our resilience and strategic focus. This growth reflects our operational efficiency and unwavering commitment to excellence. BLK is steadfast in its pursuit of achieving the FY 2023-24 target with a double-digit margin, based solely on current orders and their status. Moreover, the company is actively pursuing large projects, particularly targeting the railway sector, which holds immense potential due to the government's substantial efforts to bolster Indian railways.”
The order book stands at INR 3276 crore as of the nine months ended on 31st December 2023. The government sector contributes INR 774 crore, while the private sector constitutes INR 2501 crore, making up 24 % and 76 % respectively of the total order book. State-wise contribution as per the geographical mix is as follows: Karnataka - 43%, Haryana - 18%, Delhi - 16%, and others 23%.
The company continues to persist in targeted funnel marketing and bidding initiatives to regain a foothold in cities such as Pune and Hyderabad. Momentum will be built in securing EPC government contracts, commercial campuses, industrial and institutional buildings, as well as residential complexes. BLK emphasizes on investing in people and hiring talent who possess extensive experience and diverse skill sets.
