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Below is the edited transcript of his interview with CNBC-TV18:
Q: We understand that you have bagged a huge order, can you give us some details?
A: This is a very prestigious order which we have won from Sadara Chemical Company. Sadara Chemical is a joint venture between Aramco and the Dow Chemical Company. They are setting up the largest petrochemical plant in the world. This plant is being set up with about USD 20 billion investment.
Rolta will be doing the complete engineering work processes, applications systems, IT and system integration and will provide an extensive fleet of engineering solutions for process engineering, technical support, process automation control, asset integrity. So we will be doing a very comprehensive project. It is 10's of millions of dollars, more than USD 10 million but less than USD 50 million. So this is something which we are very proud of. It is the largest engineering IT project which has been awarded to us in spite of the tough competition with very large heavyweight.
Q: Can you highlight when exactly the revenues will start showing on the profit and loss account and what sort of margins would you be working with on this order?
A: Revenues will start showing in P&L immediately from the current month itself and this will continue till end of 2014. So the project will be completed within a period of 16 to 18 months. We are working with good margins because here we bring an IT and engineering combination. Now for IT and engineering combination we are one of the unique companies.
In the last four-five years we have changed our business model to a very Intellectual Property (IP) oriented model and then again engineering, IT and on top of that IP, this is a reason why we are getting such large orders one after another. In last five-six months we have announced three-four large orders running into USD 30-40 million which are all coming because of our specialty in combination whether it is IT or IT and engineering or only IT but with lot of IP. This is the reason we believe this is a very unique order which we have got because it validates our strategy of combining engineering and IT capabilities.
Q: So the margins will be better than your normal margins?
A: Yes in these margins also we have been making high beta margins around the range of 40 percent plus and that we have been able to do this only because of our strategy of providing IP and high-end solutions instead of providing normal IT services. So this order also should give us similar margins.
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