Denta Water and Infra Solutions Ltd — Q3 FY26

Denta Water and Infra Solutions Ltd Q3 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=FM5xeCqOnts Published: 2 months ago

0:01 1 second Ladies and gentlemen, good afternoon and welcome to the Q3 and 9month FY26 earnings conference call for Dental 0:09 9 seconds Water and Intra Solutions Limited. We have with us today Mr. Sim Rutanji Swami, chairman and executive director, 0:19 19 seconds Mr. Manish Shetty, managing director, Mr. Sujit TR wholetime director and CFO 0:25 25 seconds of the company and Miss Ha HM executive director. 0:31 31 seconds As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the management discussion concludes. 0:42 42 seconds Should you need assistance during this conference call, please signal an operator by pressing star then zero on 0:48 48 seconds your touchstone phone. Please note that this conference is being recorded. 0:54 54 seconds I would now like to hand the conference over to Mr. Simitan Swami, chairman and executive director for his opening 1:01 1 minute, 1 second remarks and to share with the audience the company's performance in Q3 and 9month FY26. 1:08 1 minute, 8 seconds Thank you and over to you sir. 1:11 1 minute, 11 seconds Good afternoon ladies and gentlemen. I am S. Nutti Swami, executive director and chairman of Denta Water and Infra 1:18 1 minute, 18 seconds Solutions Limited. We were happy to announce quarter 9 ended for financial 1:25 1 minute, 25 seconds year 2526 financial results on 12th of February 2026. Now we are pleased to 1:33 1 minute, 33 seconds answer investor call in this call. The quarter three on the 9 month performance 1:40 1 minute, 40 seconds underscore the strength of our execution capabilities and the resilience of our business model. We continue to witness healthy 1:49 1 minute, 49 seconds traction across irrigation, drinking water and wastewater management projects supported by a robust order book and 1:58 1 minute, 58 seconds expanding geographic footprint. Our focus remains on timely project delivery, student capital allocation and 2:06 2 minutes, 6 seconds sustainable value creation as we contribute to Symphony India's water infrastructure and long-term water 2:14 2 minutes, 14 seconds security solutions in the year 2526 for the 9 2:21 2 minutes, 21 seconds month ended period our yearon-year growth when compared to 2425 2:27 2 minutes, 27 seconds is around has increased by 30.8% and we have clocked revenue of around 1950.67 million in this 9 month period. 2:38 2 minutes, 38 seconds Our EITA is healthy and it is increasing and it has increased by 34.02% 2:45 2 minutes, 45 seconds on absolute terms when compared year on year to 708.47 million when compared to 528.60 6 2:54 2 minutes, 54 seconds million in 9 months period ending financial year 2425. 3:00 3 minutes Our order book is very healthy as on today we are having 8414.82 3:07 3 minutes, 7 seconds million of healthy order book that is on December 31st 2025. 3:13 3 minutes, 13 seconds We bagged new orders in establishment of SU treatment plant across four to five major cities in state of Karnataka 3:22 3 minutes, 22 seconds located in southern and northern part of Karnataka and also we back one water supply project of providing water supply 3:30 3 minutes, 30 seconds to one urban population valued at around 2.8 million. Our focus is now on end to-end solution of water sustainability. 3:40 3 minutes, 40 seconds We are providing water from rivers or reservoir treating it and giving it to 3:47 3 minutes, 47 seconds both rural and urban household. We are into collection of waste water from the 3:53 3 minutes, 53 seconds household then taking it out to pipeline treating the sewage water to acceptable norms and giving it back to the nature in the form of groundwater recharging. 4:05 4 minutes, 5 seconds In this way our company has got unique distinction of having serving from 4:12 4 minutes, 12 seconds procurement of water, treatment of the sales, collecting the waste water which is generated, treating it and giving it 4:20 4 minutes, 20 seconds back to the nature. In this way we are doing it in a such a way that 4:28 4 minutes, 28 seconds our environmental social safeguards are maintained and we serve the maintained in a better way and comp company remains 4:36 4 minutes, 36 seconds committed to selective bidding strategy focused on high quality projects with attractive margins balanced risk profile 4:44 4 minutes, 44 seconds and efficient execution timeline. Thanks to your investor interest in our company, our company is growing 4:51 4 minutes, 51 seconds financially well. We are almost debt free company except for some non-fund based bank facilities which we have 4:58 4 minutes, 58 seconds obtained in our execution of the work and we assure the investors that the returns on the investment which has been 5:07 5 minutes, 7 seconds made by all of you will be honored to the maximum extent to the satisfaction of all of you. I now hand over mic to 5:16 5 minutes, 16 seconds moderator to start the question and answer session and I would like my managing director Manishetti to have some remarks. 5:27 5 minutes, 27 seconds Good morning. Good afternoon everyone. 5:30 5 minutes, 30 seconds I hope I I hope our company will answer all the questions which which are raised by the investors. Thank you. 5:39 5 minutes, 39 seconds Thank you very much. We will now begin the question and answer session. 5:44 5 minutes, 44 seconds Anyone who wishes to ask a question may press star and one on the touchstone telephone. 5:51 5 minutes, 51 seconds If you wish to remove yourself from the question queue, you may press star and two. 5:57 5 minutes, 57 seconds Participants, you are requested to use while asking a question. 6:02 6 minutes, 2 seconds Ladies and gentlemen, wait for a moment while the question is 6:15 6 minutes, 15 seconds Participants, you may press star and one to ask a question. 6:31 6 minutes, 31 seconds A reminder to all the participants, you may press star and one to ask a question. 6:50 6 minutes, 50 seconds We have the first question from the line of Deepak Kodar from Safire Capital. Please go ahead. Yeah, I'm audible, sir. 6:59 6 minutes, 59 seconds Yes, you're audible. 7:01 7 minutes, 1 second Yeah, man. Thank you uh very much uh for this opportunity, sir. just first wanted to understand. So what led to um the 7:10 7 minutes, 10 seconds growth I mean underperformance um in this quarter I think I think you mentioned somewhere that it might be 7:17 7 minutes, 17 seconds because of some government and PSU um some execution and billing variations. 7:21 7 minutes, 21 seconds Um so wanted to um I mean kind of understand more about it u I mean what exactly happened uh here. 7:30 7 minutes, 30 seconds So we are basically into water-based infra solutions projects. In quarter three of financial year 2016, our 7:39 7 minutes, 39 seconds revenues of moderation on both year on year and quarteronquarter basis primarily due to project needs to timing 7:48 7 minutes, 48 seconds and delayed in certain government projects. However, our margins have got improved due to better project mix, 7:56 7 minutes, 56 seconds improved execution, efficiency, tighter cost controls and focus on high higher 8:03 8 minutes, 3 seconds margin what infrastructure for your kind information for this 9 month period our 8:10 8 minutes, 10 seconds quarter our 9 month quarter growth reflects 1950.67 67 million when 8:17 8 minutes, 17 seconds compared to last 9 months of December 2425 when we saw revenue of 1491.33 million 8:26 8 minutes, 26 seconds there is a growth of 31%. And in quarter to quarter we have seen moderate revenue 8:33 8 minutes, 33 seconds increase of around 4%. In the last year third quarter we had clocked 53.53 8:40 8 minutes, 40 seconds million and in this third quarter we have clocked 535.20 8:47 8 minutes, 47 seconds million. Comparing when compared to our order book and our uh execution of the 8:53 8 minutes, 53 seconds projects we we hope to achieve very good healthy revenue in next quarter and incoming quarters. 9:02 9 minutes, 2 seconds Mhm. Okay. And so so so the this lower execution this third quarter is because of project delayed by the government and PSUs. Uh would that be the major reason? 9:12 9 minutes, 12 seconds No no no actually our state of Karnataka is having different climatic season and we receive very good healthy monsoon 9:21 9 minutes, 21 seconds from the month of June to end of October. So whatever progress we can achieve it will be in 9:29 9 minutes, 29 seconds just one or two months in this quarter and all the raw materials have been secured they are being laid on ground 9:37 9 minutes, 37 seconds and also we are executing whatever civil infrastructure we have to do to complete the project but also we are fasttracking 9:46 9 minutes, 46 seconds the projects and only due to climatic reasons the our revenue projections have increased just margin marginally in this 9:55 9 minutes, 55 seconds quarter but when compared to year on year we have we have given 31% growth and overall improvement is there when 10:03 10 minutes, 3 seconds compared to last year okay okay I I I got it and and when you say fourth quarter we expect healthy execution or I mean so what sort of 10:12 10 minutes, 12 seconds execution we we are looking at in the fourth quarter 10:24 10 minutes, 24 seconds we expecting 20% growth in compared to last year fourth quarter. 10:30 10 minutes, 30 seconds So 20% growth on a YUI basis, right? So last year fourth quarter was close to about 54 crores. So 20% around 65 crores we we might be looking at, right? 10:40 10 minutes, 40 seconds Yes, that's that's the conditions we are. 10:43 10 minutes, 43 seconds Okay, understood. And so so we will fall I mean quite short of what we had been um we were looking at around 300 crores 10:51 10 minutes, 51 seconds in this entire year, right? So we will Hope is we were looking to achieve that kind of revenue and hope we are also putting in 11:00 11 minutes our effort and subject to our as I explained earlier to our milestone completion and billing cycle we hope to 11:08 11 minutes, 8 seconds achieve maximum division any hope we'll update you once our uh figures are audited and anything on the growth for the next 11:16 11 minutes, 16 seconds year FI27 uh yes since our order book is healthy around 11:23 11 minutes, 23 seconds 843 crores. We expect 30% increase in revenue when compared to 252.6. 11:31 11 minutes, 31 seconds Okay. Okay. Understood. And in terms of order book, currently we are at about 841 crores, right? So what's the execution timeline of those order book? 11:39 11 minutes, 39 seconds Uh we have got different projects. Some projects up to 100 cr we have got 12 months timeline. For project beyond 100 11:47 11 minutes, 47 seconds to 250 cr we have got 24 months timeline and beyond 250 cr we will have 36 months timeline. Almost all our projects which 11:56 11 minutes, 56 seconds we have won is within 100 cr that single project cost. So we we will be having 12 month of exception timeline. 12:06 12 minutes, 6 seconds Okay. Okay. Understood. And and and what would your bid pipeline anything on that? So what we would have bidded as of now? So we have bidding actively. 12:18 12 minutes, 18 seconds We are bidding for those projects where our margins are healthy. We don't want to bid for all the projects and we want 12:25 12 minutes, 25 seconds to focus mainly on water-based infrastruation. Let it be water treatment plant or let it be se treatment plant. And as for for your 12:34 12 minutes, 34 seconds kind information, we have won around five orders of establishment of S treatment plant with new technologies 12:42 12 minutes, 42 seconds like NAB technology and based technology and we also won one supply project of uh 12:50 12 minutes, 50 seconds providing 5,000 body in northern Africa. So in this case we are focusing on our core area where our expertise is there. 13:02 13 minutes, 2 seconds Mhm. Correct. Correct. So so so can you quantify what would be the bid pipeline for us? 13:07 13 minutes, 7 seconds No it depends on the tender notification which will be issued from the concern departments. 13:16 13 minutes, 16 seconds Right now we are searching for the projects between 100 to 300 cr that is uh 1,000 millions to 3,000 million and 13:25 13 minutes, 25 seconds uh once the tender notification is is published we'll be able to let you know exact quantity of the tender to which we 13:34 13 minutes, 34 seconds are meeting they are on the pipeline right now. 13:37 13 minutes, 37 seconds Okay, understood. And just final thing from my side now on working capital. How were we seeing um on the on the working capital front? I mean it was little on 13:45 13 minutes, 45 seconds the it was little elevated as of FI 25 right even the first half. So so how should one look at working capital going forward? 13:55 13 minutes, 55 seconds I will hand over to my financial uh it will be 90 to 120 days which our working cycle period. 14:06 14 minutes, 6 seconds Hello please please continue. 14:09 14 minutes, 9 seconds Ah yes 95 to 120 days is our uh working cycle period and we have we have 14:17 14 minutes, 17 seconds improved our uh our working cycle situation will improve 14:25 14 minutes, 25 seconds in quarter four of 25 26 further. 14:30 14 minutes, 30 seconds Okay. So uh uh so so um I mean as of first half also our working capital was very elevated right we had inventory of 14:39 14 minutes, 39 seconds around I mean 108 crores and receivables was also 64 crores right yes so 14:47 14 minutes, 47 seconds that's all we have received that receivable we have earned revenue in the subsequent quarters 14:54 14 minutes, 54 seconds and our working cycle we are trying to improve quarteronquarter basis We want to reduce our inventory. We want 15:03 15 minutes, 3 seconds to convert into revenue billing uh model and we are getting quite a good amount of revenue. Even in fourth 15:11 15 minutes, 11 seconds quarter we are expecting good revenue into our books of accounts. 15:17 15 minutes, 17 seconds Okay. Okay. Okay. I I got it. That would be it from my side. Wish you all the very best. Thank you. 15:28 15 minutes, 28 seconds Thank you very much. A reminder to all the participants, you may press star and one to ask a question. We will take the 15:36 15 minutes, 36 seconds next question from the line of Utkar Sumeya from Elco Quantum Solutions Private Limited. Please go ahead. 15:45 15 minutes, 45 seconds Thank you for the opportunity. Uh I want to understand in the previous call you had guided for a 50%. You were guided 15:53 15 minutes, 53 seconds for a 300 cr topline this year and at that point half of Q3 was already over. 15:59 15 minutes, 59 seconds So I want to understand what went so wrong in the second half of Q3 that you had to reduce your guidance so much. 16:06 16 minutes, 6 seconds Even this year and even FI27 your guidance has reduced. 16:11 16 minutes, 11 seconds So can you please give me tell me what exactly went down in 45 days? Yes quarter. Yes. 16:18 16 minutes, 18 seconds Yes. As I explained earlier, our projects are all in water-based infra solutions projects and we have got fixed 16:28 16 minutes, 28 seconds project milestone where timings are fixed way timings are fixed. We have to achieve certain kind of progress and we 16:36 16 minutes, 36 seconds can expect the revenue accordingly to the progress which we have achieved and there will be binning cycle in 16:45 16 minutes, 45 seconds government departments which we are constantly striving to improve and with all these 16:54 16 minutes, 54 seconds with all these activities we are able to achieve this much of growth actually as you can see from our results it has 17:02 17 minutes, 2 seconds increased by 31 1% yearon-year basis and we hope to have good progress. Yes, we 17:09 17 minutes, 9 seconds had anticipated a revenue of 300 cr and we had anticipated that all our raw materials will be procured and we will 17:17 17 minutes, 17 seconds be able to complete the project in good time and ensure that the works are completed. 17:24 17 minutes, 24 seconds uh yes when compared to last year as I have mentioned it is a 31% increase in growth and whatever projections we had 17:33 17 minutes, 33 seconds anticipated that we will try strive to achieve it and we will inform accordingly once our results are over. 17:41 17 minutes, 41 seconds Thank you. Yeah, please anticipate better and inform us because we as investors go on your word and there is a very big difference between what you had 17:49 17 minutes, 49 seconds committed and what has actually been delivered. So please be mindful of your guidance going forward. And secondly your order book we were guided for 1,000 17:56 17 minutes, 56 seconds to 1100 cr at the end of March. Is that also going to be faltered on or you will be able to achieve for that guidance? 18:05 18 minutes, 5 seconds Actually as on today we have as on December we have got outstanding order book of 841 crores 18:12 18 minutes, 12 seconds and yes we are also bidding aggressively in projects but we are waiting for good projects to come in our way so that our 18:20 18 minutes, 20 seconds uh order book should be healthy. And also we should have maximum profit in the in our order books. That is our aim. 18:28 18 minutes, 28 seconds Any hope we will inform you as soon as we get the order and we inform the all the investors and also report to the regulatory authorities. 18:40 18 minutes, 40 seconds Okay. Thank you. 18:45 18 minutes, 45 seconds Thank you. A reminder to all the participants. You may press star and one to ask a question. 18:55 18 minutes, 55 seconds We will take the next question from the line of Shapat Hussein and individual investor. Please go ahead. 19:05 19 minutes, 5 seconds Hello. Hello sir. Am I am I audible? Yes sir. Yes sir. 19:14 19 minutes, 14 seconds Yes sir. My question is that the comment from the man monitoring agency for the 9th month and the 31st uh December 2025. 19:26 19 minutes, 26 seconds The agency said that uh that the four projects from the that the four project of the respective 19:35 19 minutes, 35 seconds counter counterparties outstand amount to be received against this project is 169 crores. 19:44 19 minutes, 44 seconds Hello. Now yes we are hearing so sir out of this 169 Ks which is 19:53 19 minutes, 53 seconds outstanding how much of this amount will be converted into the cube for top line. 20:02 20 minutes, 2 seconds Yes yes yes my team is checking into the figure into the monitor report. I think uh 20:10 20 minutes, 10 seconds approximately around 65 crores we are expecting it to be converted into revenue for the fourth quarter. 20:18 20 minutes, 18 seconds Okay. 20:18 20 minutes, 18 seconds Let me see the report. I don't think 165 cr is outstanding uh revenue. Let me check it up. But we are expecting 20:27 20 minutes, 27 seconds revenue of 65 crores out of the amount which has been identified by monitoring agency. 20:34 20 minutes, 34 seconds I am reporting from the monitoring agency report. 169.51 crores. 20:41 20 minutes, 41 seconds Okay sir. And uh and sir your working capital working capital has significantly gone up FI25. 20:52 20 minutes, 52 seconds It has almost doubled. It has almost doubled as on December 31 as against the March 31 2025. 21:02 21 minutes, 2 seconds Yes we are trying to improve that one. 21:05 21 minutes, 5 seconds We are trying to get the working capital cycle reduced so that we can have good efficiency in the in our project 21:12 21 minutes, 12 seconds execution and also earning uh in revenue projections we will try to reduce it in coming quarters. 21:21 21 minutes, 21 seconds Okay sir. And the monitoring agency also comments that uh the work completed lying in inventory as billing and collection progress has been slow. 21:31 21 minutes, 31 seconds Yes, we will improve all those activities. will ensure that we earn good revenue out of the whatever project 21:38 21 minutes, 38 seconds we have implemented and sir uh to check to improve it. 21:44 21 minutes, 44 seconds Okay. Okay. On last two phone calls you said about the two big Karnataka mineral exploitation rehabilitation fund order of 400 cr. 21:55 21 minutes, 55 seconds Yes. 21:55 21 minutes, 55 seconds Two projects. What is the current status of that s? It is before some committees which has to clear the projects and we 22:03 22 minutes, 3 seconds are continuously following it up. Tender notification is set to be issued. We hope to get the tender notification issued early. Once the tender 22:12 22 minutes, 12 seconds notification is issued then we will be able to commit exact timeline that meeting. 22:21 22 minutes, 21 seconds uh once once the timeline is uh finalized from the committee level I will inform the all the investors. 22:29 22 minutes, 29 seconds So when can we expect these orders? In last call you said uh we will get these orders in Q3 and Q4. Q3 have gone and Q4 22:37 22 minutes, 37 seconds is almost gone. Only one month is remaining. 22:41 22 minutes, 41 seconds It again depends on the standard invasing authority. Uh they have to issue the tender notification. They are seeking some uh clarification all those 22:51 22 minutes, 51 seconds things is before the committee. I will just follow it up and let you know in the coming days. 22:58 22 minutes, 58 seconds Sir any timeline 3 months 4 months. I can't commit for the exact time frame. 23:06 23 minutes, 6 seconds It will be done very quickly. That much I can tell. Okay. Right. 23:11 23 minutes, 11 seconds Okay. Sorry. Okay sir. One my last question sir. Your 300 cr topline guidance is still in intact sir. 23:22 23 minutes, 22 seconds No probably we may not achieve 300 cr for this year and compared to last year revenue earnings we may see 20 to 25% increase in revenue. 23:33 23 minutes, 33 seconds So so what is the reason sir why your guidance is not matching? 23:40 23 minutes, 40 seconds As I explained in earlier two questions, our our is water-based infra solutions 23:46 23 minutes, 46 seconds project implementation company and it depends on project milestone and it depends on project milestone timing and building in certain government projects. 23:57 23 minutes, 57 seconds So all these activities have to go hand in hand. So due to all these 24:04 24 minutes, 4 seconds intricacies of earning revenue earning we are exper we are experiencing a little bit of moderation in our revenue 24:12 24 minutes, 12 seconds which we hope to pick up in the coming quarters. 24:16 24 minutes, 16 seconds So we can see a 30% uh topline growth in FI27. 24:22 24 minutes, 22 seconds We hope to achieve that kind of Okay sir. Thanks so much. Thank you. 24:30 24 minutes, 30 seconds Thank you. We will take the next question from the line of Anil Shenoi, an individual investor. Please go ahead. 24:39 24 minutes, 39 seconds Yeah. Hi. Uh uh uh thank you so much for taking my question. Um uh just just one please on on on the on the cash that you 24:47 24 minutes, 47 seconds have on your books. Uh it was around 85 crores at the end of Q2. Uh can can you just guide us on uh has that improved or 24:55 24 minutes, 55 seconds has that gone down in Q3 and how do you see that panning out in Q4? Uh and a follow up on that um you've guided for 30% revenue increase in FY27. 25:07 25 minutes, 7 seconds Uh would you need to raise any debt for uh the the uh working capital for the growth that you see in FY27. I'm asking 25:17 25 minutes, 17 seconds because in your press release you have uh you have mentioned that you have got approval for a lot of debt that you can raise. So are you actually going to raise it? 25:26 25 minutes, 26 seconds Yes. As well as cash in cash reserves it is almost on the same line. We have not 25:34 25 minutes, 34 seconds uh seen any significant uh change in the cash reserve position and as far as depth are concerned since we are bidding 25:42 25 minutes, 42 seconds for new projects we may need fund non-f fund based bank guarantee in the form of bank guarantee which we have to give to 25:50 25 minutes, 50 seconds the government departments to as collateral performance security which will be there for a period of one or two 25:57 25 minutes, 57 seconds years. In keeping that in mind, we have got approvals from different agencies especially from Kodak bank and also our 26:06 26 minutes, 6 seconds earlier bank of SBI. We have worked greatly with sanction. We utilize mainly for non-fund based financial instrument like banking. 26:21 26 minutes, 21 seconds Okay. Thank you. 26:25 26 minutes, 25 seconds Thank you. Thank you. We will take the next question from the line of Raikasa an individual investor. Please go ahead. 26:39 26 minutes, 39 seconds Ma, please proceed with the question. 26:49 26 minutes, 49 seconds To do no response, we will take the next participant. 26:55 26 minutes, 55 seconds Before we take the next question, a reminder to all the participants. You may press star and one to ask a 27:02 27 minutes, 2 seconds question. We have the next question from the line of Yashnis, an individual investor. Please go ahead. 27:11 27 minutes, 11 seconds Yes. So, so my question is that as part of the company's regional divers diversification strategy, have we 27:19 27 minutes, 19 seconds secured any new orders outside Karnataka? 27:24 27 minutes, 24 seconds As on today we are trying to bid for projects outside Karnataka in our order book only right now 27:33 27 minutes, 33 seconds Karnataka based projects are in pipeline and once we get any new orders we'll inform the investing community. 27:44 27 minutes, 44 seconds Okay okay okay that's it from my side. Thank you. 27:52 27 minutes, 52 seconds Thank you. A reminder to all the participants. You may press star and one to ask a question. We will take the next 28:00 28 minutes question from the line of Yashwanti an individual investor. Please go ahead. 28:06 28 minutes, 6 seconds Good sir. Thank you for taking my question. I wanted to understand from the business perspective. So first thing 28:15 28 minutes, 15 seconds what competitive threats the company may face. competitive. 28:24 28 minutes, 24 seconds Can you repeat the question? 28:26 28 minutes, 26 seconds Yes, sure. What competitive threats does the company face? 28:33 28 minutes, 33 seconds Yes. Right now in state of Karnataka, there are not many in the listed space. 28:40 28 minutes, 40 seconds There are quite a few players who do similar type of work like SNC construction company, Hamuda 28:48 28 minutes, 48 seconds construction company and Bundavan construction company and Shinasa construction company who do bit who do execute project similar to the projects 28:57 28 minutes, 57 seconds which we are handling and since our expertise is on groundwater recharging and end to end waterbased solutions we 29:06 29 minutes, 6 seconds don't foresee much competition in work key focus area of groundwater. 29:15 29 minutes, 15 seconds Okay. In that case, do you think a consolidation happening at Karnataka state and would you like to acquire any company to enhance your strength? 29:26 29 minutes, 26 seconds Right now we are not into that area of uh approach but uh we are uh concentrating mainly on 29:35 29 minutes, 35 seconds completing whatever projects we have already made that we want to complete on time and earn a good revenue. 29:43 29 minutes, 43 seconds So you mean that 840 cr for order booked will take another two to three years to get it accounted in revenues. 29:52 29 minutes, 52 seconds Yes, based on our uh not only this one, we will be bagging new orders and we'll be completing our projects which which 29:59 29 minutes, 59 seconds we have already won. So it will be mix of completion of ongoing projects and bagging new orders. 30:09 30 minutes, 9 seconds Yes, our existing order book should be sufficient for next two to two and a half years. Okay, but we will not remain 30:16 30 minutes, 16 seconds stayed in that sphere. We will try to capture new orders also. Incremental orders will come into our order book. 30:24 30 minutes, 24 seconds Okay. If I can take two more questions, I would like to know what opportunities as well as the risk do you foresee in regional diversification. 30:38 30 minutes, 38 seconds Other states we are trying to identify the projects and we are uh focusing on the tender 30:46 30 minutes, 46 seconds notifications which is being issued by other state government departments and whenever the projects are found to be feasible having good healthy margin we will try to beat for those projects. 30:59 30 minutes, 59 seconds In that case would you be going independently or you would like to be with the JV of the local partner? What 31:07 31 minutes, 7 seconds would be the strategy to get into those states where you do not have any presence right now? 31:14 31 minutes, 14 seconds Based on our technical and financial capability, we like to compete individually. However, in case specific 31:22 31 minutes, 22 seconds in cases which are specific for which we may need some technical partners, we enter into strategic joint venture with local players. 31:33 31 minutes, 33 seconds Okay. And sir with your vision and the current order book with the lot of policy reforms how do you see data 31:41 31 minutes, 41 seconds moving ahead over the period of next 3 to 5 years in terms of the scale of your author book in terms of the top line as well as the profitability. 31:53 31 minutes, 53 seconds Yes we foresee very good growth for next two to three years. We anticipate good 32:00 32 minutes orders to come in our uh order book and also we strive to achieve good revenue projection in next two to three years. 32:10 32 minutes, 10 seconds Any order delay or the project outlay announcement has been witnessed in the last four to five months. Sir, 32:18 32 minutes, 18 seconds no such project delay has occurred. We have completed almost all our projects on time. 32:23 32 minutes, 23 seconds Not from your pursuit from the awarding uh project awarding coming from the government. 32:30 32 minutes, 30 seconds No such delay is being encountered. 32:33 32 minutes, 33 seconds They're all on course and we are also bidding for new projects. In fact, as I as I have already informed, we backed 32:42 32 minutes, 42 seconds four SW treatment plant in last quarter and one water supply project all valued at around 160 cr. 32:51 32 minutes, 51 seconds And we are also striving to capture new orders in coming quarters also. 32:57 32 minutes, 57 seconds And at an individual level, what is the order size? We are capital or we are qualified to bid for 33:05 33 minutes, 5 seconds 150 to 200 cr worth of project. We can do individually more than 200 cr we enter into strategic 33:12 33 minutes, 12 seconds joint venture partnership where the major share will be of yours it will be 51% for offer 33:21 33 minutes, 21 seconds and for technical collaboration we uh we enter into joint ventures 33:28 33 minutes, 28 seconds okay thank you so much for taking my question I will join back in the queue thank you and good luck to you for the next quarter 33:36 33 minutes, 36 seconds thank Thank you. Before we take the next question, a reminder to all you may 33:46 33 minutes, 46 seconds press star at one to ask a question. We will take the next question from the line of Disha Sha, an individual investor. Please go ahead. 33:55 33 minutes, 55 seconds Hi, good afternoon. 33:58 33 minutes, 58 seconds Uh I would like to understand that uh how the recent union budget announcement positive for the company. 34:17 34 minutes, 17 seconds [clears throat] 34:18 34 minutes, 18 seconds Hello. Hello. Question. Question. 34:23 34 minutes, 23 seconds Please repeat the question. Can you repeat the question? 34:25 34 minutes, 25 seconds Yeah, sure. I want to understand how is their recent union budget announcement positive for the company. 34:34 34 minutes, 34 seconds Yes, I think they have announced very good investment for infrastructure space 34:40 34 minutes, 40 seconds and that uh translates into healthy uh invitation of the tenders across 34:48 34 minutes, 48 seconds various states where we are interested and we want to capture those orders also. 34:56 34 minutes, 56 seconds it is helpful to our company. 35:00 35 minutes Okay. So could you explain uh Denta's role in Amrut Jalan mission and HTP projects and how important this programs can be for the company's growth. 35:11 35 minutes, 11 seconds Right now we have got very healthy mix of very healthy mix of J1 mission AMR and STP. 35:19 35 minutes, 19 seconds We have got three projects under J1 mission valued at 3870.8 8 million where our share is 3870.80 35:29 35 minutes, 29 seconds million and we have got two schemes underro 2258.36 million is our order book and in HTP we 35:37 35 minutes, 37 seconds have got five projects all valued at,45.30 million we got healthcy mix of all the 35:44 35 minutes, 44 seconds three schemes and we are trying to complete the projects which have been awarded to us. 35:52 35 minutes, 52 seconds Okay. So do the government projects give better margins or lower margins compared to other work? 36:00 36 minutes It is it is not like government projects or private projects. 36:04 36 minutes, 4 seconds It it depends on our more on our efficiency in execution of the project identification of the project and 36:11 36 minutes, 11 seconds identifying good raw material source which we can utilize for execution of the projects. So we are trying to 36:19 36 minutes, 19 seconds achieve maximum efficiency in revenue projection and also good healthy profit margins. 36:29 36 minutes, 29 seconds Okay. And what is the maximum project value type that we can execute independently 36:35 36 minutes, 35 seconds to 150 cr individually. 36:42 36 minutes, 42 seconds Okay. Okay. Thank you and all the best for the next quarter. Thank you. Thank you. 36:48 36 minutes, 48 seconds And that will send questions. Thank you. 36:54 36 minutes, 54 seconds Thank you. A reminder to all the participants. You may press star and one to ask a question. We have the next 37:02 37 minutes, 2 seconds question from the line of Anil Shinoi, an individual investor. Please go ahead. 37:08 37 minutes, 8 seconds Yeah. Hi. Uh thanks for the uh letting me ask a follow-up question. Uh I had a uh sort of like a big picture question for the next say on a over a long term 5 37:17 37 minutes, 17 seconds to 10 years. Could you point us towards any macro data which suggests that the 37:24 37 minutes, 24 seconds water uh sector in India can grow you know consistently over the next 5 to 10 years? Is it because water is scarce in 37:32 37 minutes, 32 seconds India or or um um there are there are more more requirement for water in the rural areas? So what is it that will 37:40 37 minutes, 40 seconds drive this sector over the next say 5 to 10 years? 37:44 37 minutes, 44 seconds Actually water is a very skilled commodity and it is very much essential for wellbeing of the mankind. 37:53 37 minutes, 53 seconds Earlier we had different standards in providing water supply to the individual households. The efficiency of water 38:02 38 minutes, 2 seconds delivery mechanism has got improved. Now people expect household connection to their houses and they expect 135 L per 38:11 38 minutes, 11 seconds capacity for LPCD for each person in rural areas and 150 LPCD in urban areas 38:20 38 minutes, 20 seconds and we are trying whatever opportunities we are getting is for improvement of delivery systems. 38:28 38 minutes, 28 seconds There was some rudimentary system of delivery of tubial water or some other source of water which we are now 38:36 38 minutes, 36 seconds upgrading to multi-layer schemes where we are getting water from very good reliable source just like we are 38:42 38 minutes, 42 seconds implementing two schemes in GG mission and one scheme in Amro where we are supplying water from Pumba reservoir 38:52 38 minutes, 52 seconds where water is available 24 by7 and delivery system also we are improving We are upgrading the treatment 38:59 38 minutes, 59 seconds capacities. We are installing new pipelines. We are ensuring that in Amruti we are provide we are providing 39:07 39 minutes, 7 seconds 24 box 7 water supply to urban population of two towns of Klo anda. So we foresee very bright future for the 39:16 39 minutes, 16 seconds water sector where we have to supply water in good measurable terms and it should be available 24 by7 39:25 39 minutes, 25 seconds and further we we from Delta are striving to have end to end solution as I explained earlier we are providing 39:33 39 minutes, 33 seconds water supply and uh we are uh getting the water collected 39:39 39 minutes, 39 seconds from their household getting it treated pumping bring it back into the nature in the form of groundwater recharge and for your kind 39:48 39 minutes, 48 seconds information some surveys shows that for every three people who are residing in India one people are not getting good 39:57 39 minutes, 57 seconds quality proper water supply there is a lot of gap to be covered which presents a very rosy picture for a company like 40:05 40 minutes, 5 seconds Denta which is mainly into water-based infra solutions yeah uh thank you so much for answering 40:13 40 minutes, 13 seconds that that's very helpful and it gives a lot of color. Uh just a quick followup uh so you've said 20 to 30% sort of 40:19 40 minutes, 19 seconds revenue uh growth for the next two years but after that uh I mean obviously at some point the growth will slow down 40:26 40 minutes, 26 seconds because of the base effect. So uh over a long longer period of time what kind of growth rates would you aspire to get uh 40:33 40 minutes, 33 seconds after say 2 or 3 years then for the next 5 to 6 years what kind of a growth are you thinking about 40:40 40 minutes, 40 seconds after 2 to 3 years we are anticipating 15% increase in growth since base year base amount has got increased 40:48 40 minutes, 48 seconds substantially in next two to three years we hope to strive an 15% increase when 40:55 40 minutes, 55 seconds compared to the previous here after 3 years. 41:00 41 minutes Correct. Uh thank you so much. That's that's very helpful and all the best. Thank you. Thank you. 41:09 41 minutes, 9 seconds Thank you very much ladies and gentlemen. That was the last question for today. I now hand the conference 41:16 41 minutes, 16 seconds over to Mr. Sri Mutanji Swami, chairman and executive director for closing comments. 41:21 41 minutes, 21 seconds Yes. Thank you investors and thank you for PR agency. We had a very good interactive session with the investors, 41:29 41 minutes, 29 seconds individual investors and institution investors. We hope to achieve good revenue in fourth quarter of uh 2526 41:38 41 minutes, 38 seconds and our margin should also be healthy so that we can present a good picture to the investors and also to the public. 41:48 41 minutes, 48 seconds That's all from my end. 41:52 41 minutes, 52 seconds Thank you very much management members, ladies and gentlemen. On behalf of Denta Water and Ira Solutions Limited, that 42:00 42 minutes concludes today's session. Thank you for your participation. You may not disconnect your lines. Thank you everyone.