Z-Tech Ltd — Q3 FY26

Z-Tech (India) Ltd Q3 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=8VxUj7XDXOc Published: 3 months ago

0:00 Ladies and gentlemen, kudi and welcome to the Q3 and 9 month FI26 planning conference call of Z Techch India 0:07 7 seconds Limited. As a reminder, all participants will be in a listenon mode and there will be an opportunity for you to ask questions after the presentation 0:16 16 seconds concludes. Should you need assistance during the conference call, please signal an operator by pressing star then 0:23 23 seconds zero on a dash phone. Please note that this conference is being recorded. I now hand the conference over to Miss 0:30 30 seconds Sangitra Gorgan, managing director from Zette Tech India Limited. Thank you and over to you. 0:38 38 seconds Hi, thank you Mushan and good afternoon everyone and a warm welcome to all the investors, analysts and stakeholders 0:44 44 seconds joining us today for the Q3 and the 9 months of the financial year 2026 earning calls of ZTE India Limited. I'm joined today by Mr. Vikas Jen, CFO, Mr. 0:58 58 seconds Horawat our chief business officer, Mr. 1:01 1 minute, 1 second Ashish, our company secretary and compliance officer along with our investor relation partner from ab sector 1:08 1 minute, 8 seconds PR. Thank you for taking the time to be with us and for your continuous support. 1:15 1 minute, 15 seconds As we conclude quarter three and the first nine months of the financial year 26, I'm pleased to share that jet India 1:23 1 minute, 23 seconds has continued to demonstrate steady execution momentum across all three verticals that is habited, equa and 1:31 1 minute, 31 seconds terra. Our strategy of combining engineering design, technology integration and discipline project 1:39 1 minute, 39 seconds execution continues to guide our growth and strengthen our position in 1:46 1 minute, 46 seconds sustainable urban infrastructure and environmental solution. 1:50 1 minute, 50 seconds During the quarter, we also made progress on new business ordering entry into new geographies, new client segment 1:58 1 minute, 58 seconds which are further enhances which further enhances our medium-term growth visibility and reinforces the relevance 2:07 2 minutes, 7 seconds for our solutions across urban development, water management and geotechnical infrastructure. 2:14 2 minutes, 14 seconds In the habited vertical, our urban park and experiential infrastructure projects continue to progress well during quarter 2:22 2 minutes, 22 seconds 3 with several projects advancing through key execution milestones. These projects reflect our focus on creating 2:32 2 minutes, 32 seconds functional, sustainable and culturally engaging public spaces and we remain confident that 2:40 2 minutes, 40 seconds our long-term value creation potential with Equavertical. Our guides enable 2:48 2 minutes, 48 seconds wastewater recovery and treatment solutions continues to perform efficiently across operational sites. 2:54 2 minutes, 54 seconds During quarter 3 and the first nine months of the financial year 26, these systems process millions of gallons of 3:02 3 minutes, 2 seconds water underscoring the scalability, decentralized and smart water management solutions. 3:10 3 minutes, 10 seconds The terra vertical continued to maintain a strong execution momentum with ongoing progress. across stabilization, 3:17 3 minutes, 17 seconds reinforced outward block protection and geotherel deployments in key infrastructure corridors. These projects 3:24 3 minutes, 24 seconds often exhibited in complex terrain terrain conditions highlights our growth expertise in geotechnical engineering 3:32 3 minutes, 32 seconds and precision le delivery. Our order pipeline remains robust with healthy inflow across transport infrastructure, 3:42 3 minutes, 42 seconds urban development and public utility segments. 3:45 3 minutes, 45 seconds Several projects are currently at advanced bidding or pre-development stages. Importantly, our balance sheet 3:52 3 minutes, 52 seconds remains strong with prudent leverage control working capital cycle and sufficient liquidity to support ongoing and upcoming growth initiative. 4:05 4 minutes, 5 seconds Uh before I hand over the call to Mr. 4:08 4 minutes, 8 seconds Gorav for a detailed operational and financial review. I would like to thank all our clients, partners and 4:15 4 minutes, 15 seconds shareholders for their continued confidence in chapter India. We remain committed to discipline, execution, leveraging technology and building 4:24 4 minutes, 24 seconds sustainable future ready infrastructure platform. I hand over to Mr. Sunilatna. 4:35 4 minutes, 35 seconds Good afternoon. Good afternoon everyone. 4:38 4 minutes, 38 seconds Pleasure again to probably connect and to probably reconnect with many of you 4:45 4 minutes, 45 seconds as we have been talking over last several calls that this has been a most 4:51 4 minutes, 51 seconds defining year in the Z tech history from many perspectives. You know the first one being in the zing path category. 5:01 5 minutes, 1 second We have been evolving more from an EPC play and gradually to a in a play where we not only build these parks but we 5:10 5 minutes, 10 seconds also operate these parks. Our momentum of having at least 15 odd PS this year 5:17 5 minutes, 17 seconds continues to drive our performance enough. Similarly, we have strengthened our portfolio of technologies in the 5:25 5 minutes, 25 seconds water space by making the acquisitions around the sewage treatment plant on the sewage recycling a potential 5:33 5 minutes, 33 seconds opportunity. Now, similarly, when we look at the geotech platform, you know, we added, you know, significant 5:41 5 minutes, 41 seconds technical strength in our team. You know we entered into new areas of flood mitigations to you know mining 5:49 5 minutes, 49 seconds stabilization and new technologies around soil erosion systems which enables us to probably take a 5:57 5 minutes, 57 seconds significant leadership positions going ahead you know as as far as the ling park is concerned you 6:04 6 minutes, 4 seconds know as we have spoken earlier this is a very interesting you know capital light model which we have built which has been 6:13 6 minutes, 13 seconds working excellent in terms of working with the government partnerships across the cities of India. You know as we 6:20 6 minutes, 20 seconds speak not only we have entered into new states you know the company has a wider footprint now uh compared to the 6:29 6 minutes, 29 seconds beginning of the year. If you look at the current market operations now as a company we are present in uh Delhi, 6:38 6 minutes, 38 seconds Hana, Uttar Pradesh, Jammu, Kashmir, Himachel Pradesh, Gujarat, Maharashtra, 6:46 6 minutes, 46 seconds Bihar you know and we are working towards entering many other states of India as we you know go forward. 6:55 6 minutes, 55 seconds Our transformation has been uh pretty significant in terms of how we want to probably look at this business going 7:03 7 minutes, 3 seconds ahead you know because we want to probably move away from an you know only a park construction company to a park 7:10 7 minutes, 10 seconds operator company. We continue to believe that you know operating on these paths is extremely essential to generate free 7:19 7 minutes, 19 seconds cash and create significant you know profitability and create more shareholder wealth you know and we have 7:26 7 minutes, 26 seconds been very determined to see that you know we move from four parts operational at the beginning of the year to at least 15 parts by end of this financial year. 7:37 7 minutes, 37 seconds uh we have been aggressively you know putting our execution skills you know the capital which we raise into it to 7:45 7 minutes, 45 seconds see that these parts get operational so that the operational revenue in terms of the ticketing the uh in terms of the SNB 7:54 7 minutes, 54 seconds in terms of events and all those activities you know get the significant momentum going years ahead you know I 8:02 8 minutes, 2 seconds earlier also mentioned about it that we are looking at a very Blue sky opportunity here. You know we have a 8:09 8 minutes, 9 seconds large urban population to take care of in India. You know this is not only limited to only the metro cities. It 8:18 8 minutes, 18 seconds goes beyond metro cities to tier 1, tier 2, tier three cities, you know. And we had some wonderful you know uh case 8:26 8 minutes, 26 seconds study got built over a period of the last quarter when we opened the park at Kurja. As many many of you know that 8:34 8 minutes, 34 seconds probably Kurja typically will classify as a tier three city and Kurja is known 8:40 8 minutes, 40 seconds for you know the making of potry and they supply it not only across India but 8:47 8 minutes, 47 seconds they export significant amount of potry out of this small you know town in near Bulanchar Puja you know 8:55 8 minutes, 55 seconds and what has been to our utter surprise and also you know as uh good thing for the business is that 9:04 9 minutes, 4 seconds Kurja continues to drive 25 30,000 visitors every month into this park and 9:11 9 minutes, 11 seconds this you know emboldens our thinking and strategy that these smaller towns and cities uh you know need you know such 9:19 9 minutes, 19 seconds parks in larger cities you will find opportunity of you know many recreational things the smaller cities 9:28 9 minutes, 28 seconds and towns in India didn't have any such opport opportunities to go to and our success in the Kurja Park manifest that 9:36 9 minutes, 36 seconds this opportunity is far beyond the metro cities of India and you're looking at doing something which probably would be 9:44 9 minutes, 44 seconds a most unique roll out of these external parks across India you know similarly you know in the last quarter we also 9:53 9 minutes, 53 seconds opened our first you know park where the funding was done by the company you know which is the jungle trail at NOA which 10:00 10 minutes many of you might have seen visited and it has done immensely well in terms of drawing the crowd and the subsequent 10:08 10 minutes, 8 seconds revenue around these parks and we expect this to continue for a very long period of time the way the park has been built 10:16 10 minutes, 16 seconds and the new expansion which is coming around it you know uh if you look at you know still at the horizon you know we 10:24 10 minutes, 24 seconds still don't have real meaningful competition you know to probably really get worried about And we feel that you 10:31 10 minutes, 31 seconds know this is going to evolve into a much larger opportunity as we move forward you know and this kind of a capital 10:40 10 minutes, 40 seconds light government partnership model is in my opinion is unique and also creates a 10:47 10 minutes, 47 seconds significant growth opportunity as we move forward. We have continued our you 10:53 10 minutes, 53 seconds know ability to get into new cities with new orders and we feel that you know we 11:01 11 minutes, 1 second are still scratching the surface. The opportunity is significantly larger than what we need to probably you know go 11:08 11 minutes, 8 seconds after. Uh as we speak you know we have strengthened our park operational team significantly. We have brought in people 11:17 11 minutes, 17 seconds with significant experience in terms of building the marketing around drink. You know also in terms of the operational 11:25 11 minutes, 25 seconds excellence of these park also you know if you think from a point 11:33 11 minutes, 33 seconds of view of how the parks had transformed compared to last year uh case in point would be parks in UP which we started 11:42 11 minutes, 42 seconds last year. We learned quite a few aspects around FNV and you know event activities uh adventure activities. We 11:52 11 minutes, 52 seconds took all those necessary you know calls around changing the business model a bit. We brought in you know larger 12:00 12 minutes players in terms of the partnerships around FND and all that and that is bringing significant change in terms of 12:07 12 minutes, 7 seconds the revenue pattern you know in terms of our operational uh strength on the park side. You know 12:14 12 minutes, 14 seconds our sparks are fundamentally you know are creating an opportunity which is based 12:21 12 minutes, 21 seconds on high margin recurring cash flows high daily footfalls and a significant brand you know expansion you know and we feel 12:31 12 minutes, 31 seconds this momentum to probably strengthen going forward when we move from four cars to 15 cars by end of this financial 12:39 12 minutes, 39 seconds year you know and with this kind of a mode when we have you we'll be in position to probably uh expand much more 12:48 12 minutes, 48 seconds vigorously. You know, we have significant you know number of paths which are underway uh across India. uh 12:58 12 minutes, 58 seconds we continue to probably have little slack in my opinion in terms of the southern markets of India but we are now 13:05 13 minutes, 5 seconds working hard to probably you know figure out different kind of a business models which can help us probably you know grow faster in that market as well. 13:16 13 minutes, 16 seconds In terms of you know quick numbers perspective our income uh 13:24 13 minutes, 24 seconds increase significantly in the Q3 you know we grew from 24 odd crores to almost 42 odd crores you know with a 13:33 13 minutes, 33 seconds growth of almost 74% IITA increased from 7.7 crores to 11.6 6 13:40 13 minutes, 40 seconds crores and profit after tax increased from 5.73 crores in the three of you 13:46 13 minutes, 46 seconds know FI25 to 7.62 62 crores you know at the consolidated level you know we grew 13:54 13 minutes, 54 seconds significantly with a growth of almost 63% you know compared to the last year our 14:00 14 minutes ITA margin grew by almost 58% and our fat grew by almost 51% you know company 14:09 14 minutes, 9 seconds has a strong order book and continues to you know win more orders as we you know look ahead 14:17 14 minutes, 17 seconds uh In terms of what does the you know things look like as we move forward you know we feel that you know as I at the 14:27 14 minutes, 27 seconds park level we are committed that in 3 years you know we need to reach to a level of around 100 parks nationally you 14:35 14 minutes, 35 seconds know we have also uh in terms of starting our the second sports arena at NOA within this quarter uh we have also 14:45 14 minutes, 45 seconds been uh L1 in terms one of the fresh paths which we wanted to probably do that and in 14:54 14 minutes, 54 seconds as far as the geotech and water business is concerned you know we continue to probably look for new opportunities in 15:02 15 minutes, 2 seconds different uh new areas such as you know Uttar Pradesh and Jammu and Kashmir and Rajasthan you know where we feel there 15:11 15 minutes, 11 seconds are some interesting projects which are coming up and where probably we would like to position ourself you know uh to conclude 15:18 15 minutes, 18 seconds You know the Q3 and the 9 month of this financial year has reinforced our position as a unique sustainability 15:27 15 minutes, 27 seconds uh company you know which is moving more from a ETC to a kind of a con consumer 15:34 15 minutes, 34 seconds NUT model and this NUT model probably will require that the company gets rerated in the near future from a you 15:43 15 minutes, 43 seconds know pure play ETC type to a more of a consumer play And which will you know generate also significant future free 15:50 15 minutes, 50 seconds cash flows which will help us in terms of you know how we look ahead going forward you know 15:58 15 minutes, 58 seconds thank you for your time and now we are happy to take your questions you know. 16:05 16 minutes, 5 seconds Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask question may press 16:12 16 minutes, 12 seconds star and one on the touchstone telephone. If you wish to remove yourself from question Q, you may press 16:19 16 minutes, 19 seconds star and two. Participants are requested to use handles while asking a question. 16:24 16 minutes, 24 seconds Ladies and gentlemen, we'll wait for a moment while the question Q assembles. 16:40 16 minutes, 40 seconds The first question is from the line of Manoj Sharma, an individual investor. Please go ahead. 16:48 16 minutes, 48 seconds Hello. Namaste sir. Namaste. 17:03 17 minutes, 3 seconds In terms of taxidentum 20 next quarter 17:15 17 minutes, 15 seconds we are you know reasonably confident because you know the Q four of the 17:24 17 minutes, 24 seconds every year is very good for all our businesses and there is a reason behind it right 17:31 17 minutes, 31 seconds period January, February, March is most conducive and we see significant footfalls across 17:40 17 minutes, 40 seconds our parks. Number one, you know, this is the time because of no range happening 17:59 17 minutes, 59 seconds to push the business. 18:02 18 minutes, 2 seconds in this quarter. So we remain confident in terms of the numbers which we have spoken about. 18:28 18 minutes, 28 seconds JP motherfig. 18:50 18 minutes, 50 seconds 3x growth managers. There are multiple reasons. 19:13 19 minutes, 13 seconds kind of basis. We are very confident. 19:24 19 minutes, 24 seconds We are you know well adequately financed. 19:30 19 minutes, 30 seconds team wise problem. So we are we remain very confident. 19:37 19 minutes, 37 seconds Thank you sir. Thank you very much sir and best of luck. Thank you. 19:44 19 minutes, 44 seconds Thank you. The next question is from the line of Akshhat Mata from Seven Levers Holding. Please go ahead. 19:52 19 minutes, 52 seconds Yes. Thank you for the opportunity. Uh I just have a couple questions. One is see uh this quarter we've seen a very big 20:00 20 minutes jump in geotechnical solutions or our terra business right almost 4x from last year and double from last quarter what's 20:09 20 minutes, 9 seconds happening there uh why have we seen such a big I think the margin uh you know margins have gone down because of the 20:17 20 minutes, 17 seconds mix change right because uh apart from the amusement park business we the other uh business have lower margins 20:24 20 minutes, 24 seconds comparatively so what's happening in that business. 20:28 20 minutes, 28 seconds So you know couple of things which have happened in the geotech business. Number 20:34 20 minutes, 34 seconds one, you know, we hired significant management bandwidth over a period of last 6 8 months, you know, because we 20:43 20 minutes, 43 seconds realized that we had an overdependence on one kind of a business in geotechnical vertical which was related to more of roads and bridges and we 20:53 20 minutes, 53 seconds realized that there is a significant opportunity you know remains in the area of ground improvement you know these 21:00 21 minutes flood flood mitigation projects and these kind of a And so we went about winning some of 21:07 21 minutes, 7 seconds those jobs and we have started executing it. And you will find that there is a significant much higher growth even in this quarter 21:15 21 minutes, 15 seconds coming into the you know this financial year. And this is to probably you know establish our credentials there and our 21:22 21 minutes, 22 seconds ability to execute those projects you know and obviously because that mix jumped you know in the last quarter and 21:31 21 minutes, 31 seconds it might jump in a you know even in this quarter you might see a little bit of a rebalancing in terms of the percentages. 21:40 21 minutes, 40 seconds Okay. So u so by when can we kind of see you know the park development business going back to around 85 90% of the 21:49 21 minutes, 49 seconds overall image now at 75 approximately uh when will the mix come back 21:56 21 minutes, 56 seconds no so the way eventually I would like to have is that you know and that's has been going back to our earlier 22:04 22 minutes, 4 seconds discussion that we want that at least you know pundra vi spark operational 22:12 22 minutes, 12 seconds then our mix of EPC versus the operational revenue changes significantly and we expect that next 22:21 22 minutes, 21 seconds year may we will back to that healthy mix and this year we took this challenge that we will have we'll move from four 22:29 22 minutes, 29 seconds parks at the beginning of the year to at least 15 20 parks this year and we are confident that we'll be able to reach 22:36 22 minutes, 36 seconds somewhere in between there and once that happens then we'll have the full year scale to probably grow our operational 22:43 22 minutes, 43 seconds revenue and which will bring to your you know whatever the desired level we are talking about you know and as I have 22:50 22 minutes, 50 seconds mentioned earlier also that eventually whether it's a one year two year three year down the line we see there are two 22:58 22 minutes, 58 seconds different you know parts of the business here one would be the zinc parks and the other one would be the ztech where there will be more of these geotech water that 23:06 23 minutes, 6 seconds kind of an intraplay you know and so we are hoping hopeful that in next one two years that will we will be able to achieve that and coming back to your 23:15 23 minutes, 15 seconds earlier question about reaching to the same level of 80 plus% will probably happen next year 23:23 23 minutes, 23 seconds in in 9 months how many parks have you already started and how many are going to start in Q4 so in 9 months as I mentioned earlier 23:33 23 minutes, 33 seconds again that only two parks started and they both started in the period of you know October to December And now between 23:40 23 minutes, 40 seconds now and end of March plus minus 7 days here and there you know all the construction works are going on full 23:47 23 minutes, 47 seconds swing and we expect to reach to seven more parks which are at the advanced stages of construction and seven to it 23:56 23 minutes, 56 seconds might be eight and nine as well but seven we are reasonably certain you know and that has been our main uh driving 24:05 24 minutes, 5 seconds you know focus you know and I think that goes again to A related question which was also earlier asked you know in the 24:12 24 minutes, 12 seconds last call also that your receivables are high but our receivables are high only because the parks which we have to 24:19 24 minutes, 19 seconds operate starting you know next year we want to ensure that all these parks get completed now either I can probably have 24:27 24 minutes, 27 seconds my timeline of 15 operational parks at the beginning of the next financial year or I go with the government's you know 24:34 24 minutes, 34 seconds plan to probably operate these parks whenever they find it convenient you know and we took a call as a company that we need to move you know in a 24:43 24 minutes, 43 seconds faster manner from construction phase to the operational phase and that's where we put all our efforts and we are 24:50 24 minutes, 50 seconds hopeful that as of you know beginning of April we'll move to 15 plus now 24:57 24 minutes, 57 seconds okay one last question sir uh on the industrial waste water management business sir uh you know year and year 25:05 25 minutes, 5 seconds we've seen a sharp decline in margins on that segment right so what's happening there are you taking some lower margin 25:13 25 minutes, 13 seconds products or projects or something like that you know we have been you know trying to build our more references in the sewage 25:22 25 minutes, 22 seconds recycling space because you know we have been doing some very highly specialized only some you know chemical recovery 25:31 25 minutes, 31 seconds kind of a thing you know we're trying to make that a little broad-based and you know that might be the reason why probably it probably probably has gone 25:39 25 minutes, 39 seconds down quite a bit but I think this will come up again you know I don't I don't see that as a challenge at all 25:46 25 minutes, 46 seconds okay okay thank you sir thank you a reminder to all the 25:54 25 minutes, 54 seconds participants you may press star and one to ask question the next question is from the line of 26:00 26 minutes Daria from DJT investments please go ahead hi sir Good afternoon and thanks for taking my question. Uh good afternoon. 26:10 26 minutes, 10 seconds I'm sorry to interrupt sir. I just request you to speak little louder please. Okay. Uh am I audible now? 26:17 26 minutes, 17 seconds Yeah it's better. Go ahead please. 26:20 26 minutes, 20 seconds Yeah. Yeah. So sir first is a bookkeeping question. Why have the number of equity shares increased from 1.43 cr to 2.78 cr year on year? 26:29 26 minutes, 29 seconds Um I think that was an error. I we have sent a corendum out. Uh I think uh Vikas 26:36 26 minutes, 36 seconds G are you there? Can you Yes. Yes. Yes. There there was some topographic error which we noticed uh uh 26:44 26 minutes, 44 seconds today also and we have rectified the same uh and uploaded to the stock stock exchange. 26:53 26 minutes, 53 seconds Okay. So currently what is the equity that we have the number of equity shares? Uh currently the equity shares numbers are 27:01 27 minutes, 1 second Mr. M It is 1436 42. 27:09 27 minutes, 9 seconds Okay. So same right? 1.43 crores. 27:12 27 minutes, 12 seconds Yes. It is a basic basic uh shares and diluted diluted numbers are very little uh margin improvement is there. 144 73904. 27:23 27 minutes, 23 seconds Got it. So are we see any further equity dution in the next 6 to 12 months? 27:28 27 minutes, 28 seconds Can we can't hear you? Can we speak louder again please? 27:32 27 minutes, 32 seconds Yeah. Yeah. Sorry, am I audible now? Is it better? 27:36 27 minutes, 36 seconds Your voice is echoing a bit, but Hello. Yes, go ahead. 27:43 27 minutes, 43 seconds Yeah, I'm saying. So, what is the equity valuation that we expecting in the next 12 months? 27:52 27 minutes, 52 seconds I think you know as of now the warrants which have been you know subscribed for 27:59 27 minutes, 59 seconds in our last round will get matured in the month of September I believe so 28:05 28 minutes, 5 seconds there will be a dilution of some 3 4% I think you know I do not have those exact number if you have those number I have I 28:14 28 minutes, 14 seconds have I have the number there will be some dilution up to 31st of December we have diluted 28:22 28 minutes, 22 seconds um out of 1864 12 uh 1 lakh 28,000 and the rest will be diluted within this 28:30 28 minutes, 30 seconds quarter. There will be certain marginal dilution within next quarter not the next quarter this year. Okay. 28:38 28 minutes, 38 seconds This year he was asking okay sorry about this year this year. 28:43 28 minutes, 43 seconds Okay. Okay. Because currently what is happening I think because of this error the EPS is looking you know optically much lower. Sorry conclusion we have we have rectified we have 28:51 28 minutes, 51 seconds rectified because the number has been changed accordingly NPC number has been restated important 28:58 28 minutes, 58 seconds it is 5.31 it is it is 5.31 presently basic and diluted is 5.27 29:06 29 minutes, 6 seconds and uh for 9 months it is 11.66 66 and uh it is a basic and diluted 11.57. 29:15 29 minutes, 15 seconds Sure. Sure. Uh also Sun next question I'm referring to slide 20 uh in your investor presentation 29:23 29 minutes, 23 seconds mentions the ticketing and non- ticketing revenues as 8 crores. So is this for 9 months F26 or is this the 29:31 29 minutes, 31 seconds amount that we projecting for the full financial year of 26? In this we projecting for the full financial year because there are the four parts right 29:40 29 minutes, 40 seconds the eight the balance seven park will be ready by end of March but then the idea of even putting this slide was to show 29:48 29 minutes, 48 seconds the dramatic impact what it makes once the operational park moves up. 29:55 29 minutes, 55 seconds Got it. Got it. So this these numbers also include some of the for the next year probably some of 30:03 30 minutes, 3 seconds the parks which are going to be partially operational during the year. 30:07 30 minutes, 7 seconds So the parks next year will be 15 plus to start with and let's say 15 more parks which we are going to end during 30:14 30 minutes, 14 seconds the add during the year different times of the in a year. 30:19 30 minutes, 19 seconds Okay. So which means that if we are saying that we are going to have roughly 8 crores of ticketing revenue in this year which is FI26 30:27 30 minutes, 27 seconds which means the EPC revenue will be roughly say 75 80 crores or slightly higher for FI26 right? 30:36 30 minutes, 36 seconds Okay. Okay. And and and what are we expecting that number to go to in FI27? 30:40 30 minutes, 40 seconds The EPC number EPC number probably should be around 125 plus plus. 30:49 30 minutes, 49 seconds Okay. 30:50 30 minutes, 50 seconds Because all the PS have to be built and for that we need the number right. So which means 125 plus the 60 30:57 30 minutes, 57 seconds odd crores that you mentioned as ticketing and non- ticketing revenue which means roughly we looking at roughly say around 200 crores give or 31:04 31 minutes, 4 seconds take a few crores here and there uh just from the past business for FI27 is my understanding right 31:12 31 minutes, 12 seconds uh plus and minus 10 20% right you know because there's a lot which probably goes between you know right from the 31:20 31 minutes, 20 seconds ideation to tendering to do it but yes you are reasonably correct Okay. Okay. So, anywhere between say 170 31:28 31 minutes, 28 seconds to say 1902 200 crores for the parks next year. Yes. 31:34 31 minutes, 34 seconds Okay. Okay. And how many parks are we looking to start in FI27? Now we close 31:40 31 minutes, 40 seconds 26 with 15 you mentioned. So we are you know looking at that let's say beginning of last this year we had four we will 31:49 31 minutes, 49 seconds reach beginning of next year 15 and we expect end the year by almost around close to 30. So we expect that we will 31:58 31 minutes, 58 seconds construct 15 more parks in the next financial year. What we did we are going to do around 11 this year. We will move up to 15 minimum next year. 32:10 32 minutes, 10 seconds All right. And all of them will be under the O andM model right we I'm purely right now talking about 32:16 32 minutes, 16 seconds the O and M you know O andM model only you know the EPC part if there are some small parts which we do you know I'm not 32:24 32 minutes, 24 seconds counting in these numbers enough understood all right great sir perfect that everything thank you so much and 32:33 32 minutes, 33 seconds all the best for the upcoming quarter and for the next financial year thank you thank Thank you. A reminder to all the 32:41 32 minutes, 41 seconds participants you may press star and one to ask question. The next question is from the line of Ron from Noa orbits. 32:49 32 minutes, 49 seconds Please go ahead. Hello. Yes, please. 32:57 32 minutes, 57 seconds Yes. Uh am I audible? 33:00 33 minutes Yes, please. Uh thank you for the opportunity, sir. Uh so before asking my question uh I have a request like before 33:08 33 minutes, 8 seconds we used to have the in our PPT uh list of all the parks and the contract value along with ongoing and uh open parks. So 33:16 33 minutes, 16 seconds this time it is not included in the PPT requesting that uh we can include that as well. Uh okay and no not a problem you know we're just 33:24 33 minutes, 24 seconds trying to make it more crisper you know probably that's why a lot of new slides have been added this year this this quarter which it wasn't 33:33 33 minutes, 33 seconds earlier yeah so that was very helpful so it gives us an idea about what is which parts are open which are ongoing so yeah 33:40 33 minutes, 40 seconds sure sir uh so coming to my question sir uh so uh out of the uh 32 cr revenue uh in this 33:49 33 minutes, 49 seconds quarter from the parks business What is the bifurcation between the EPC and OMN just for this quarter Q3? 33:58 33 minutes, 58 seconds The Q3 the bifurcation would be almost out of 32 28 34:06 34 minutes, 6 seconds cr rupees 27 cr rupees would be from the EPC. Okay. We're talking about just Q3 right? 34:16 34 minutes, 16 seconds Yeah. Yeah. I'm talking about the Q3. 34:18 34 minutes, 18 seconds Yeah. Because as I have mentioned you know several times that our effort right now is to see that we complete these 34:26 34 minutes, 26 seconds parks as quickly as possible. So they move from an EPC cycle to the operational cycle. 34:33 34 minutes, 33 seconds Okay. Yeah. I got you sir. Uh yes another question that I have is you have already kind of answered it but just to 34:40 34 minutes, 40 seconds reaffirm like our target of number of operational parks were revised to 15 plus uh from your earlier guidance of 34:47 34 minutes, 47 seconds 2025 parks. So and in in the H1 call also you mentioned that in November and December. No, the the correction sorry 34:55 34 minutes, 55 seconds you know the reason why some of these you know disconnect might be there is 35:02 35 minutes, 2 seconds that you know while we are still building some more parks but then in some parks the government wants to keep 35:09 35 minutes, 9 seconds it free and they don't you know charge tickets so you know they are not under our operational control 35:17 35 minutes, 17 seconds you know so that's where some of these numbers get little bit you know the thing Uh but anyway carry on. 35:25 35 minutes, 25 seconds Yeah. So yeah as I as I was saying like like you mentioned like uh in the H1 call that you are expecting three parks 35:33 35 minutes, 33 seconds to open in November as excuse me sorry sir uh three parks to open in November and December. Uh but right now we have opened one since uh 35:42 35 minutes, 42 seconds then in November December and our target is 15. So like our very confident we open two sorry we opened two not one. 35:50 35 minutes, 50 seconds Yeah. Jungle Trail and the Kurja Park. Yes sir. Yes. 35:54 35 minutes, 54 seconds Yes sir. Uh so like currently only 1.5 months are left and like we've not announced any park opening recently. So like are we still that we can reach the 36:03 36 minutes, 3 seconds 15 park number in the coming like 45 days like how many parks already set to open? 36:10 36 minutes, 10 seconds You sh can shed more light on that. Yeah. 36:13 36 minutes, 13 seconds Yeah. Yeah. So we learned our lesson in terms of the park opening things around. 36:22 36 minutes, 22 seconds So I'll just give you an example that the jungle trail park the authority wanted you know honorable CM to probably 36:30 36 minutes, 30 seconds inaugurated you know and because honorable CM had many other preoccupations 36:39 36 minutes, 39 seconds you know we almost lost more than 3 4 months for it to open. 36:43 36 minutes, 43 seconds Yes sir. Now that was something you know could have been avoided if probably there was no real formal opening opening 36:52 36 minutes, 52 seconds which we would have talked about or we have tomtomed about right you know definitely and because of that reason only you know 37:01 37 minutes, 1 second the world park which we opened in Pimpri Chinshwar you know we opened you know without any fare in the month of January 37:10 37 minutes, 10 seconds while even the code of conduct was going on in Maharashtra. 37:14 37 minutes, 14 seconds you know because I could have again probably decide to wait you know that you know it will need a 37:21 37 minutes, 21 seconds formal opening and then I need to wait for the timing to come from you know the 37:27 37 minutes, 27 seconds CMS or the DPCMS you know and probably you know so on one hand I have business issues to handle and the other hand you 37:35 37 minutes, 35 seconds know I want somebody you know right up to prime minister to CM to probably open these parts you know Now this is 37:43 37 minutes, 43 seconds something which is a very balancing act which we need to continue to pursue you know you know as we speak we have a park 37:51 37 minutes, 51 seconds ready in Muradabad you know but we still probably are trying to see if Muradavad you know Yogi G is going to visit they 37:59 37 minutes, 59 seconds can combine that. Now that is the reason why you see less of announcement and we basically do a soft launch and start 38:07 38 minutes, 7 seconds with it and we tell the authorities that 38:20 38 minutes, 20 seconds So it's a question of balancing it for few months here and there you know. 38:24 38 minutes, 24 seconds Okay. Okay. So sir uh if I'm correct me if I'm wrong. So in my understanding so currently because of all these uh 38:31 38 minutes, 31 seconds inaugural issues we'll be trying to soft launch our parks and basically not have a grand opening celebration but soft launch our park and start our operations. Is that what you're saying? 38:40 38 minutes, 40 seconds No no no no I am saying that I am not making a grand opening as a prerequisite 38:48 38 minutes, 48 seconds for path to open you know it is a call which gets made depend in depending on city to city 38:58 38 minutes, 58 seconds and based on the ground issues you know now there is nothing much I can do about 39:05 39 minutes, 5 seconds it and that is the reason you know we just focus focus on let's complete the park development let it be 39:14 39 minutes, 14 seconds ready the day either or we can go and switch on the park okay 39:21 39 minutes, 21 seconds yes sir and I like to mention like the seventh sir I'm sorry to interrupt I just request you to rejoin the queue for 39:28 39 minutes, 28 seconds sure thank you I I'll join by thank you thank you so much the next question is from the line of 39:35 39 minutes, 35 seconds Maitrica from Safar capital please go ahead yeah hello Am I audible? Yes, you are. 39:43 39 minutes, 43 seconds Yeah. Hello. A few questions. Firstly, on the non- ticketing and ticketing side. So, what sort of margins do we 39:50 39 minutes, 50 seconds have on on these revenue compared to the EPC margins for the park? If you could specify 39:57 39 minutes, 57 seconds um our the margin on the ticketing and FNB and activities is in the range of somewhere close to around 50 plus%. 40:08 40 minutes, 8 seconds and EPC it will vary from somewhere around you know 25 30 to 40%. 40:17 40 minutes, 17 seconds So since we seeing a huge increase in the ticketing and non ticketing that should be revenue from next year uh what sort of margins are you targeting for 40:26 40 minutes, 26 seconds F27 cuz the Terra project for you are taking are quite more complex. 40:33 40 minutes, 33 seconds Yeah. So we expect you know a significant jump going forward you know because of all these parks 40:40 40 minutes, 40 seconds which are going to open up and uh you know our goal remains that 40:47 40 minutes, 47 seconds you know we should look at growing our top line to probably bottom line in excess of 50 plus% year after year. 40:59 40 minutes, 59 seconds Okay that is great. And the new projects that you've been taking, what sort of margins are we earning on that? 41:06 41 minutes, 6 seconds On which segment ma'am? 41:08 41 minutes, 8 seconds On the on the Geotera segment, you mentioned that you are taking more mining stabilization projects. 41:14 41 minutes, 14 seconds Our margins our margins remain in the range of around 15 20%. 15 20%. Okay. 41:21 41 minutes, 21 seconds Yeah, that is from Thank you. Thank you. 41:26 41 minutes, 26 seconds Thank you. The next question is on the line of Dava from Dava Securities. Please go ahead. 41:35 41 minutes, 35 seconds Hi sir. Hi. Good afternoon. 41:38 41 minutes, 38 seconds Just have two questions for you. Sir, what percentage of revenue is now recurring or annoty based? 41:46 41 minutes, 46 seconds U as we speak it's fairly small probably you know recurring revenue. Uh this year we will have something like more in the 41:54 41 minutes, 54 seconds range of around 8 crores only. But you know we expect that you know again to re 42:02 42 minutes, 2 seconds rephrase the entire thing which I mentioned earlier that the whole story around what is transformation is 42:09 42 minutes, 9 seconds happening in the company is how do we quickly move our significant revenue stream from an a project kind of a 42:18 42 minutes, 18 seconds revenue to the recurring revenue. Now the recurring revenue will happen when the parks are operational. And so intent 42:26 42 minutes, 26 seconds has been is to see that you know this move from four to almost 15 parks this year to probably you know 30 parks next 42:34 42 minutes, 34 seconds year to 50 parks after that you know things like that. And uh we expect you 42:40 42 minutes, 40 seconds know the recurring revenue with 15 fully operational parks next year should be 42:48 42 minutes, 48 seconds somewhere in the range of around 25 plus% 25% from what it might be currently you know less than probably 5%. 43:00 43 minutes Got it sir. 43:02 43 minutes, 2 seconds So one more question. Are you seeing any uh repeat orders from the existing clients? 43:08 43 minutes, 8 seconds Absolutely. You know, in fact, we are, you know, working on uh another park from, you know, a Lacno, you know, 43:18 43 minutes, 18 seconds development authority which is right on the riverfront. Excellent location. And we were called by them saying that you 43:25 43 minutes, 25 seconds know we want you to do it you know similarly because our parks have become so popular in Lacno. Uh Lacno Municipal 43:32 43 minutes, 32 seconds Corporation also called us you know to probably you know take couple of more parks. Now the question is up to us to 43:40 43 minutes, 40 seconds see you know how many we want to do it only in Lacnau to start with you know our park up dashan park has become in 43:49 43 minutes, 49 seconds lucknau as the go to place you know for all the government functions and other things you know various food festivals 43:58 43 minutes, 58 seconds are happening cultural festivals are happening so we feel that you know getting repeat orders you know mcd for 44:06 44 minutes, 6 seconds example has been a repeat customer of ours you know on an ongoing basis. Um Pimpri Chinwad Municipal Corporations we 44:15 44 minutes, 15 seconds have already executed three projects and fourth is also already awarded. NASIC we are already executing one project you 44:23 44 minutes, 23 seconds know they have been talking to us about two more projects. So we feel you know repeat customer is a great strength 44:32 44 minutes, 32 seconds which we have built in our past business and geotech as you probably would know is that a large part of business comes from the repeat customers only enough. 44:45 44 minutes, 45 seconds Got it sir. Thank you so much and all the best. Thank you. Thank you. 44:52 44 minutes, 52 seconds The next question is from the line of Nitan Gupta from NA. Please go ahead. 44:58 44 minutes, 58 seconds Uh thank you for the opportunity. Am I audible? Yes, you are very audible Dr. G. 45:05 45 minutes, 5 seconds Okay. So basically uh I had two questions. One of it is already answered. The other one is with respect 45:12 45 minutes, 12 seconds to the current order book with respect to the creative parks. So I I don't see any uh increment 45:20 45 minutes, 20 seconds uh order book from Q2 to Q3 like it was around 240 or 230 odd crores 45:28 45 minutes, 28 seconds com I mean com uh delivered plus ongoing and it is a similar one after Q3. So how confident are I mean what what we can expect by the end of Q4. 45:40 45 minutes, 40 seconds Uh you know see the the numbers remain you know around that number is because we are also continuously executing the 45:48 45 minutes, 48 seconds orders you know and if we would not have been executing the number order book will keep going high and we expect you 45:57 45 minutes, 57 seconds know we will end up the year with an order book somewhere close to almost close to 300 crores. 46:10 46 minutes, 10 seconds So I was basically asking about the creative part. 46:14 46 minutes, 14 seconds Uh currently I think it is 76 odd cr which is uh remaining 76 46:22 46 minutes, 22 seconds for the creative part the pending order book is around 76 crores. 46:27 46 minutes, 27 seconds Sure enough you know so asking like how much we can expect we will end up somewhere around 125 to 150 crores. 46:39 46 minutes, 39 seconds Okay. So in the uh remaining 45 odd days we can expect around 50 odd crores plus whatever we will execute. 46:46 46 minutes, 46 seconds Yes. Yes. You know we are you know happy to probably you know announce probably that we have already received some 35 46:56 46 minutes, 56 seconds crores of orders you know which will be formally you'll be hearing very soon. 47:02 47 minutes, 2 seconds And uh we have received our largest ever order for a park which we need to develop in Matra on a Krishna theme you 47:10 47 minutes, 10 seconds know on a park size of 35 acres you know 47:17 47 minutes, 17 seconds okay that's good to hear uh just reiterating I think you have already kind of confirmed it like for uh 47:26 47 minutes, 26 seconds financial year 26 you at the start of this year you were guiding around 150 odd crores as a top line and 47:34 47 minutes, 34 seconds around 40 odd crores of bottom line. So we are sticking to that. Yes, pretty much. 47:44 47 minutes, 44 seconds Okay. Yeah. Uh that's all from my guys. Thank you. Thank you. 47:52 47 minutes, 52 seconds The next question is from the line of Ashwani Aaral from CSS Capital. Please go ahead. 47:59 47 minutes, 59 seconds Hello. Yes, good afternoon Ash. 48:03 48 minutes, 3 seconds Good afternoon. Good. Uh just uh one first followup question from just a previous caller. I think he was asking 48:13 48 minutes, 13 seconds that you know 40 crores of bottom line for FI26 like till till the 9 months we 48:19 48 minutes, 19 seconds have done uh some 16 17 crores. So you think 40 cr is still possible like in FI26? 48:28 48 minutes, 28 seconds uh you know as I said it's pretty much yes you know I still feel that we will be able to reach there you know with our 48:36 48 minutes, 36 seconds the quarters being you know probably pretty heavy you know and with all the traction which we have you know I feel 48:44 48 minutes, 44 seconds we'll be reasonably there okay great great that's good great to hear one more thing like you mentioned 48:51 48 minutes, 51 seconds you know approximately seven parks plus minus which will be open from like Feb 48:57 48 minutes, 57 seconds to March March. So, uh completed by March, you know. Yeah. Which is completed by March. 49:06 49 minutes, 6 seconds Completed by March. You know, my goal is that as of, you know, 1 April, you know, 49:14 49 minutes, 14 seconds we should be having at least 15 parks operationally ready, you know, so that we have a full year of revenue traction for those parks, you know. 49:24 49 minutes, 24 seconds Now you know the reason so I hope you understand that let's say for example a park might open end of February but you 49:33 49 minutes, 33 seconds know might go on probably in the month of you know end of March you know it boils down to various things as I previously explained and that is the 49:42 49 minutes, 42 seconds reason why you know I said even on the profitability side pretty much is because if I am able to probably gain 49:50 49 minutes, 50 seconds couple of months of the operational of the park at this point of time add directly to the bottom line. You know, 49:59 49 minutes, 59 seconds got your point. My question was that out of these seven parks, is there any part which is already completed and you know 50:07 50 minutes, 7 seconds just waiting for someone to give their time to officially? 50:11 50 minutes, 11 seconds Absolutely. Muradavad is fully ready to be you know inaugurated as we speak you 50:18 50 minutes, 18 seconds know and we expect significant footfall coming out of Muradavad 50:25 50 minutes, 25 seconds and uh so we'll be completing all these remaining seven parts till March and the opening stock opening or official 50:34 50 minutes, 34 seconds inauguration that all depends on all the different factors is this yeah it's like you know I would say that you know it's all these other factors 50:43 50 minutes, 43 seconds probably you can take plus minus 15 days to a month here and there because we learned our lesson in the noapa right 50:51 50 minutes, 51 seconds you know our I would have given you 120% certainty on some of these things had I 50:57 50 minutes, 57 seconds known that probably this yogi g's time will be such a challenge to probably get he has already inaugurated several paths 51:05 51 minutes, 5 seconds for us in the past you know so then sometimes I think their preoccupations will control. 51:14 51 minutes, 14 seconds Got it. This last question, it is on the Noa part like what kind of response have we got in the park? What is the kind of 51:22 51 minutes, 22 seconds average football? And also, if you can talk a bit more about the upcoming expansion in the NOA park. 51:28 51 minutes, 28 seconds So, you know, NOA has been giving us great numbers. You know we have been 51:35 51 minutes, 35 seconds able to get around 50 to 60,000 visitors. 51:42 51 minutes, 42 seconds you know every month we are looking at revenue of almost we 51:48 51 minutes, 48 seconds have been clocking close to almost 80 lakhs to a cr rupees of revenue you know 51:54 51 minutes, 54 seconds out of that park and we feel that we have not yet been you know because this is coming organically you know we still 52:03 52 minutes, 3 seconds haven't really started a significant you know marketing push because our thinking is let's first let's start with the 52:11 52 minutes, 11 seconds organic push and then probably we spend money on marketing when we feel that the time is right to probably start doing 52:18 52 minutes, 18 seconds that you know so it has been a you know great opening uh as far as the second 52:26 52 minutes, 26 seconds phase is concerned so we have been building a sports arena there uh we have four pickle ball you know one paddle one 52:34 52 minutes, 34 seconds box cricket two football stall and uh some practice pitches are coming up uh 52:41 52 minutes, 41 seconds We expect that to be ready by February end. Uh we are working on developing a 52:47 52 minutes, 47 seconds whole food uh food food court area or probably artal food brands to be there. 52:55 52 minutes, 55 seconds That in my opinion will take another 3 months time. uh we have been trying to finalize you know whether should we get 53:03 53 minutes, 3 seconds McDonald's or Burger King along with other brands or probably it should be done with only premium artal brands and 53:13 53 minutes, 13 seconds uh because we are still learning the tricks on the FNB side you know I think some decisions has to be taken in next 53:20 53 minutes, 20 seconds 15 days and we expect 60 to 90 days to roll that out 53:27 53 minutes, 27 seconds apart from that you that side of area we have ability to do a a go-karting arena which we have been 53:36 53 minutes, 36 seconds looking at. So I think NOA would be a kind of a a great 53:44 53 minutes, 44 seconds you know model going forward you know in terms of how an outdoor arena needs to be created in a growing country like India you know. 53:57 53 minutes, 57 seconds Got it. Got it. Thank you sir and yeah congratulations for your matur. Thank you. 54:04 54 minutes, 4 seconds Thank you. The next question is from the line of Mahesh Kumar from MU family office. Please go ahead. 54:13 54 minutes, 13 seconds Hello. Uh unfortunately am I? No. 54:19 54 minutes, 19 seconds No you are not clearly audible. I think your voice is Is it Is it now okay? Is it better? Much better. 54:26 54 minutes, 26 seconds Okay. So I just had one uh like I just had question related to the wastewater management. Can can we know what the 54:35 54 minutes, 35 seconds total order book of the company in this wastewater management treatment and which industry we cater to currently 54:42 54 minutes, 42 seconds like uh this semiconductor and the farmer side of this wastewater management industry is gaining a lot of traction. So just wanted to know which 54:50 54 minutes, 50 seconds industry we cater to and what is the order book currently. So we have two kind of a business there in the water 54:57 54 minutes, 57 seconds space. One is related to the chemical recovery from the affluent stream you know and these chemicals which gets 55:07 55 minutes, 7 seconds extracted have a lot of resale value you know as of now the industries which we have been catering to is largely the 55:16 55 minutes, 16 seconds chloralk industry. So the customers like Grassim, GCL, Galileo 55:23 55 minutes, 23 seconds would be our customers. Then there are you know companies like Naven Florine you know we have also done some 55:31 55 minutes, 31 seconds neutrautical companies like canor in Pondicherry and we have been talking to some of the pharma companies as well. uh 55:40 55 minutes, 40 seconds we have not been doing anything in the semiconductor space uh for because I 55:47 55 minutes, 47 seconds think that affluent requires a much different kind of a treatment while our focus largely remains is where the 55:55 55 minutes, 55 seconds chemicals can be extracted and can be reused. The second part of the you know technologies which we have started 56:03 56 minutes, 3 seconds offering with our last acquisition is regarding sewage recycling and there the largely the customer is the government 56:11 56 minutes, 11 seconds sector and we have now been executing you know several orders which goes to 56:18 56 minutes, 18 seconds you know right from Gilaparis to municipal corporations to you know some of the larger real estate developments 56:26 56 minutes, 26 seconds which needs which to be recycled been used for the horiculture or the landscaping purposes. 56:33 56 minutes, 33 seconds Okay sir. Okay. And uh any sort like can I get a number for order book or total order book in this segment? Yes. 56:41 56 minutes, 41 seconds Our total order book in this segment would be in the range of around 15 odd crores. 56:48 56 minutes, 48 seconds Okay. And uh just one last question. So how much a bit margin we expect in this particular segment and how do we see the 56:57 56 minutes, 57 seconds overall business mix the segment wise mix of revenue to change in coming uh near future. 57:04 57 minutes, 4 seconds So you know we feel that as far as the water segment is concerned we are still at the early stage of development here 57:13 57 minutes, 13 seconds and because of the low base you know I expect that our revenue in the coming year would at least grow two to three 57:23 57 minutes, 23 seconds times but it'll still remain a small part of our overall offering and our margins typically range between 15 to 25%. 57:33 57 minutes, 33 seconds depending from customer to the kind of an affluent which we are treating you know okay okay and this 15 crores of order 57:41 57 minutes, 41 seconds book uh does this include the onm part of the water waste water treatment or just this these are all very very little I think around one odd 57:50 57 minutes, 50 seconds cr would be only the onm okay okay so that's all from my side thank you and all the best 57:58 57 minutes, 58 seconds thank you the next question is from the line of Ankit Patil an individual investor please go ahead. 58:05 58 minutes, 5 seconds Hi sir thank you for the opportunity sir my question is what are the concrete plan for international expansion and potential acquisition going forward. 58:17 58 minutes, 17 seconds Oh, as a company we have made significant stride in terms of the international, you know, park development. 58:26 58 minutes, 26 seconds You know, as we currently speak, you know, we have been at least 58:33 58 minutes, 33 seconds inquiries going on from 15 countries uh spanning from uh multiple African 58:41 58 minutes, 41 seconds countries to Saudi Arabia to Poland to UK. 58:48 58 minutes, 48 seconds and grief and we feel this is something which has been we have 58:55 58 minutes, 55 seconds not been talking much of it so far because our thinking has been is let's first get the first order uh in place 59:03 59 minutes, 3 seconds and then we will start probably pushing it more aggressively. Uh last week we also given our first expression of 59:12 59 minutes, 12 seconds interest for a park in uh Ghana for almost a 15 acre site and we have 59:22 59 minutes, 22 seconds leads coming in from so many countries that we feel we need to build a you know 59:28 59 minutes, 28 seconds a focus team towards that you know that is as far as the you know business is 59:36 59 minutes, 36 seconds concerned. Similarly, we have been seeing some inquiries now coming for our you know water business 59:43 59 minutes, 43 seconds which is related to sewage treatment plant largely and geotech and all we don't do much internationally we have 59:52 59 minutes, 52 seconds received some orders from Nepal which I don't necessarily consider as international to start with 59:59 59 minutes, 59 seconds okay and on acquisition side acquisition side nothing much. We are 1:00:07 1 hour, 7 seconds you know trying to get the our last acquisition fully aligned with us to start with. There is nothing on the 1:00:14 1 hour, 14 seconds acquisition and we probably will not do anything till at least next 6 months in. 1:00:21 1 hour, 21 seconds Okay. Thank you. 1:00:26 1 hour, 26 seconds Thank you. The next question is from the line of Ashwani from CSSC capital. Please go ahead. 1:00:35 1 hour, 35 seconds Yes. Thank you again. I just uh wanted to know again about the latest acquisition we did. Is any of our new 1:00:44 1 hour, 44 seconds orders which we have won or you know we are in L1 or we have bidded includes the capability of that new water recycling acquisition. 1:00:54 1 hour, 54 seconds So you know we have been bidding for the jobs there. you know I would not say anything which we have received so far because it's a matter of only one and a 1:01:02 1 hour, 1 minute, 2 seconds half months when we have been actively now you know pushing that but we are very confident that the amount of 1:01:09 1 hour, 1 minute, 9 seconds opportunity which exists in that sector that in next 3 months we'll build significant momentum now 1:01:17 1 hour, 1 minute, 17 seconds and we have also we have also we also successfully demonstrated the use of that technology in our nap 1:01:26 1 hour, 1 minute, 26 seconds parka And we will start probably showcasing it to other agencies who manages water body to see the effect of that technology. 1:01:35 1 hour, 1 minute, 35 seconds Now can you explain it in simple words like the tech how will it how it it will help us or how it will add to our 1:01:44 1 hour, 1 minute, 44 seconds capabilities in you know developing the paths and everything. 1:01:48 1 hour, 1 minute, 48 seconds So you know as I mentioned earlier you know that the technologies which we 1:01:55 1 hour, 1 minute, 55 seconds acquired are twoprong. One is for sewage treatment recycling. Sewage treatment and recycling and the second is towards water body rejuvenation. 1:02:07 1 hour, 2 minutes, 7 seconds Now the entire you know strategy behind this bouquet of technology was 1:02:15 1 hour, 2 minutes, 15 seconds that when we are going and doing many of these parks right now there are in some cities the NGT guidelines are there that 1:02:25 1 hour, 2 minutes, 25 seconds any of these any must be you know you must use the recycled water for the 1:02:32 1 hour, 2 minutes, 32 seconds horiculture purposes which meant that these PS we We have to also build sewage treatment plant you know and so it fits 1:02:41 1 hour, 2 minutes, 41 seconds well in terms of our overall park strategy. At the same time it also you know water treatment and waste water 1:02:49 1 hour, 2 minutes, 49 seconds treatment is a growing industry in general you know and similarly you know our parks regularly have water bodies. 1:02:58 1 hour, 2 minutes, 58 seconds Out of our current you know operational seven parks uh one to you know almost 1:03:05 1 hour, 3 minutes, 5 seconds five of them four of them have significant water bodies and we felt that water body renewal is a big opportunity. the water body. 1:03:18 1 hour, 3 minutes, 18 seconds It provides another opportunity as well as probably a requirement in our existing park which we can then 1:03:25 1 hour, 3 minutes, 25 seconds demonstrate for actual commercialization purposes. So these were the two main rational behind that acquisition and we 1:03:33 1 hour, 3 minutes, 33 seconds started with that you know showcase of the water body technology in our NOA park and which has given us good result 1:03:41 1 hour, 3 minutes, 41 seconds and so which we have started showcasing to other potential customers. Okay thank you. 1:03:51 1 hour, 3 minutes, 51 seconds Thank you. As it was the last question for the day, I would now hand the conference over to Miss Sangra for closing comments. Over to you ma'am. 1:04:00 1 hour, 4 minutes I thank you and I would like to extend my heartfelt thanks and gratitude for taking out so much time. Uh we 1:04:08 1 hour, 4 minutes, 8 seconds definitely make for the fourth quarter soon and with a great result. Thank you everyone and have a great day. Thank you so much. 1:04:18 1 hour, 4 minutes, 18 seconds Thank you on behalf of ZTech India Limited. That concludes this conference. 1:04:22 1 hour, 4 minutes, 22 seconds Thank you for joining us and you may now disconnect your lines. Thank you.