Punj Lloyd posts net profit of Rs 74.6 cr in Q3
SBI has a Rs 200-crore exposure distributed equally between two companies which entered the telecom fray in the spectrum allocation carried out in 2008, Chaudhuri said.
Engineering and construction firm Punj Lloyd Group reported a consolidated net profit of Rs 74.6 crore for the third quarter ended December 31, on higher sales.
The company had clocked a net loss of Rs 59.9 crore in the October-December quarter of the last fiscal.
The income from operations during the quarter went up to Rs 2,694 crore from over Rs 2,093 crore in the same period a year ago, the company said in a statement.
Commenting on the results, Punj Lloyd Group Chairman Atul Punj said, "Our performance in the third quarter...is encouraging and is a reflection of a gradual improvement of our operations and position. Our order book continues to expand at a healthy rate despite difficult market conditions.
"We have bagged numerous orders for civil work and construction in India and overseas besides adding orders in Process and Pipelines. We are also hopeful of the gradual return to stability in Libya and are optimistic of resuming work in the near to medium term."
Talking about the company's new infrastructure project from Delhi Police, Punj said that the company is "confident of delivering strong IRRs (internal rate of return) on this project and optimistic of creating significant shareholders' value."
As on today, Punj Lloyd has a order backlog of Rs 28,270 crore, the statement said.