As per the initial findings of Projects Today, a total of 1,256 contracts with an order value totalling Rs 88,745.47 crore were awarded in Q2/FY19. These orders (domestic & overseas) were bagged by 625 companies across various sectors.
Further, of the 1,256 finalised contracts, 34 were bagged by Indian companies to execute job work overseas. In the preceding quarter, 1,603 contracts with an order worth Rs 1,16,201.72 crore were awarded across major sectors.
The number of orders firmed up in Q2/FY19 is expected to increase and cross the preceding quarters statistics as information on contracts awarded by non-listed companies becomes available with a time lag of around two to three months.
Services & Utilities (comprising social and transport sectors) topped the table by accounting for 68 percent of the total project contracts firmed up in Q2/FY19. The sector saw 1,031 contracts with an order value worth Rs 60,445 crore being awarded in the quarter.
While the Electricity sector took the second spot with 103 work orders worth Rs 15,442.65 crore, the Irrigation sector ranked third with 59 contracts worth Rs 7,159 crore during Q2/FY19.
Within the Services & Utilites (Infrastructure) sector, Roadways, Airways (Aviation Infrastructure), Community Services, Railways and Telecommunication were star performers accounting for bulk of the project contracts awarded.
Roadways remained the front-runner during Q2/FY19. The sector saw finalisation of 636 new contracts worth Rs 23,374.69 crore. Two of these were of mega size and awarded by the Maharashtra State Road Development Corporation (MSRDC) and the National Highways Authority of India (NHAI).
MSRDC, the promoter of Nagpur-Mumbai Super Communication Expressway (Maharashtra Samruddhi Mahamarg Project), awarded five of the 12 packages identified for setting up the expressway. The aggregate value of these packages was Rs 9,319.52 crore.
In terms of contract value, Telecom ranked second and accounted for around 10 percent of the total contract value awarded in Q2/FY19. In all, 10 contracts valued at Rs 9,503.33 crore were awarded in this sector.
The Irrigation sector ranked third in contract activities. In all, 59 tenders with worth Rs 7,159 crore were finalised in Q2/FY19. Of the 59 contracts, 49 were finalised by the Water Resources Department, Madhya Pradesh. The aggregate value of these 49 contracts was Rs 6,692 crore.
A total of 31 contracts worth Rs 6,618.37 crore were awarded in the Airways (Aviation Infrastructure) sector. Nearly half of the total value was accounted by a single contract worth Rs 3,028 crore, bagged by Larsen & Toubro (L&T). The company secured the contract from GMR Hyderabad International Airport for expansion of the terminal building and airside infrastructure works at the Rajiv Gandhi International Airport, Hyderabad, Telangana, on EPC basis.
In Q2/FY19, Indian companies bagged 34 overseas contracts totalling Rs 5,583.47 crore. Patel Engineering bagged the largest overseas contract worth Rs 1,125.87 crore. The contract was secured from SJVN Arun-3 Power Development Company for Arun-3 Hydroelectric Project located in Nepal.
During Q2/FY19, a total of 1,222 domestic project contracts with an order value totalling Rs 83,162 crore were awarded in different states. Among the states, Madhya Pradesh, Maharashtra, West Bengal, Odisha and Tamil Nadu occupied the top five positions respectively.
Madhya Pradesh topped with 243 contracts worth Rs 15,812.58 crore in Q2/FY19, while Maharashtra grabbed the second spot with 228 orders worth Rs 19,379.73 crore.