Afcons cites strong record, focus on avoiding bad projects for market edge
infrastructure player Afcons Infrastructure believes that avoiding bad projects, rather than choosing good ones, has strengthened its execution prowess over the years.
The over six-decade-old company follows a stringent risk management process which has helped it deliver more than four-fifths of the projects it undertakes ahead of schedule. On average, more than half of such projects within the industry see a delay.
«We take a lot of factors into consideration, including the country risk and the kind of funding available in those markets,» managing director S Paramasivan told ET. The company also prefers projects which have strong multi-lateral funding, while avoiding projects which see aggressive competition, he said.
The company is set to hit the primary markets for its initial public offering in a couple of weeks.
«There are no credible names apart from Larsen & Toubro (in the infrastructure space), and maybe a couple of others. This (Afcons) is a very credible name with a very strong track record of the last six and a half decades, and the company is quite strong in terms of the balance sheet,» chief financial officer Ramesh Jha told ET in an interaction when asked about the response expected for the IPO.
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