Gayatri Projects Limited has informed the Exchange regarding Investor Presentation in respect of results for the quarter and nine months ended 31st December, 2019.
\br
GnynTRl
February 17,2020
To The Secretary, Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Maharashtra, India Scrip Code: 532767
To I The Manager, Listing Department I National Stock Exchange of India Limited I Exchange Plaza, 5th Floor, Plot No. C/1, I G Block, Bandra-Kurla Complex, Bandra (E), | Mumbai - 400 051 I Maharashtra, India | Scrip Code: GAYAPROJ
Dear Sir/Madam,
Sub: Investor Presentation
Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligation & Disclosure Requirements)
Regulations, 20L5, we are enclosing herewith an Investor Presentation in respect of results for the
quafter and nine months ended 31st December, 2019. The Investor Presentation is also being
uploaded on the website of the Company at URL https://www.gayatri.co.in.
This is for your information and iecords.
Yours faithfully
Gayatri Projects Limited ARfr- kv' SA,-"^^
Chetan Kumar Sharma Company Secretary & Compliance Officer
Encl: As Above
Regd. & Corp. Office : Gayatri Proiects Limited, 81 , 6-3-1090, TSR Towers Ral Bhavan Road, Somajiguda, Hyderabad 500 082. T.S CIN : 199999TG1 989P1C057289
T +91 40 2331 O33O I 4284 I 4296 e gplhyd@gayatri.co.in F +91 40 2339 8435
www.gayatri.co.in
Gayatri Projects Limited Earnings Presentation Q3FY20
Disclaimer
The material that follows is a Presentation of general background information about the Company’s activities as at the date of the Presentation. It is information given in summary form and does not purport to be complete and it cannot be guaranteed that such information is true and accurate. This Presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, or a solicitation of any offer, to purchase or sell, any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of the Company’s equity shares.
This Presentation includes statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “projects”, “predicts”, “aims”, “foresees”, “plans”, “expects”, “intends”, “may”, “will”, “seeks” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, aims, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this Presentation and include statements regarding the Company’s intentions, beliefs or current expectations concerning, amongst other things, its results or operations, financial condition, liquidity, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward- looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance including those relating to general business plans and strategy of the Company, its future outlook and growth prospects, and future developments in its businesses and its competitive and regulatory environment. Neither the Company, nor its Directors, Promoter & Promoter Group, affiliates or other advisors or representatives nor any of its or their parent or subsidiary undertakings or any such person’s officers or employees gives any assurance that the assumptions underlying such forward-looking statements are free from errors nor do any of them accept any responsibility for the future accuracy of the forward-looking statements contained in this Presentation or the actual occurrence of the forecasted developments. Forward-looking statements speak only as of the date of this presentation. As a result, the Company expressly disclaims any obligations or undertaking to release any update or revisions to any forward-looking statements in this presentation as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. No representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts, if any, are correct or that the objectives of the Company will be achieved. The Company actual results of operations, financial condition and liquidity, and the development of the sector it operates in, may differ materially from those suggested by the forward-looking statements contained in this Presentation. In addition, even if the Company’s results of operations, financial condition and liquidity, and the development of the industry in which the Company operates, are consistent with the forward-looking statements contained in this Presentation, those results or developments may not be indicative of results or developments in subsequent periods.
The Company, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this Presentation, unless otherwise specified is only current as of the date of this Presentation. None of the Company, its Directors, Promoter and Promoter Group or affiliates, nor any of its or their respective employees, advisors or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omission or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred however arising, directly or indirectly, from any use of its documents or its contents or otherwise in connection with this Presentation. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent development, information or events, or otherwise. This presentation has been prepared based on the information available in the public domain and internal management information and estimates. The information contained herein is subject to change without notice. Past performance is not indicative of future results.
2
Agenda
1.
Introduction
2.
Deleveraging & Monetisation Plan
Slide No. 4
Slide No. 5 - 8
3.
9MFY20 Financial Highlights & Top Work Order Status
Slide No. 9 - 14
5.
Order Book Diversification
Slide No. 15
6.
Key Investment Highlights
8.
Appendix – Core Business Highlights
Slide No. 16-17
Slide No. 17 onwards onwards
3
GPL: Amongst India’s leading Asset – Light EPC Companies
One of India’s leading construction and infrastructure companies with dedicated focus on
asset-light EPC work
5 decades of experience in execution of major civil works, diversified across geographies &
infrastructure segments
o Pan India operations spread across 19 states o Transportation, Waterworks & Industrial construction projects o Marquee client list: NHAI, KNNL, PWD (Mizoram), MSRDC, BSRDC, CIDCO (Maharashtra) I
& CAD (AP, Telangana) etc.
Strong Execution track record
o o o
Completed more than 6,850 lane km of road construction over the last 25 years Completed ~44 projects aggregating to INR 106 billion+ value in last 5 years Own extensive fleet of more than 2,355 pieces of construction equipment
Leading technology-led transformation in Indian construction space
o o
Technology-driven efficient execution: IOT, Computer vision, UAVs, cloud-computing Real-time reporting, higher transparency & faster execution using end-to-end digital project management
High medium term revenue growth visibility driven by large order wins
o o
Order book of INR 141 bn Book-to-Bill of 3.8x: high growth visibility for next 3-4 years
Re-focused business on “Asset-Light” Model over last 4 years
o o
o
Reduced, restructured, monetized exposure to Asset Development Business Significant improvement in balance-sheet leverage (2.4x to 1.16x in last 4 years), return ratios (FY2019 RoE & RoCE at 17% ) and free cash flow generation (FCF of Rs 1.5 Bn, post interest payment, generated for the first time in last 10 years) On track for mid 20s RoE & RoCE, strong cash-flow generation and D/E below 0.5x in next 2-3 years
Business Segments
Core Business - EPC (Order Book: INR 141 Bn+)
Transportation National and State Highways
Water Works Canals, Dams, supply & Dist.
Mining U/G Mechanised
Railways DFC
Industrial Steel & Power Plants, T&D, Conveyor
Other Civil Site Levelling, Bldg EPC
Asset Development
Power (GEVL) 4,300 MW Power Capacity– Stake in Sembcorp Energy India Ltd. (SEIL)
Highways 4 Annuity + 3 Toll national & state highways
Stake sold, Material residual interest on next monetisation event
Demerged into a separate entity; Listed on BSE & NSE
4 4
Continued Focus on Deleveraging
FY19 – Net Debt
9MFY20 – Gross Term Loan
Likely, Repayment via conciliation (SLIDE 8)
Likely, Repayment via monetisation of awards (SLIDE 8)
Net long term borrowings
Equipment loan
Working Capital Loan
Cash Equivalent
FY20E – Net Debt
5
Monetisation of stake in Power Asset Complete
• The company has concluded the sale of its 5.95% stake in power assets of Sembcorp Energy India Ltd (“SEIL”) for cash proceeds of INR 4,068 Mn + upside option.
Monetisation of stake in power asset
• The proceeds from the above sale, INR 2,068 Mn has been used towards repayment of long-term debt and the balance amount is utilized for meeting the working capital requirements of the company and for other general corporate purpose.
• GPL retains significant residual economic interest despite the sale • UPSIDE No. 1 - The above transaction is based on a basic equity value of INR 70,000 Mn for SEIL. GPL will be paid full upside based on market discovered value at the first available monetisation event (less a carried cost of 15% on initial cashflow). This upside expires in December 2024.
• UPSIDE No. 2 – In addition, Gayatri had an option for additional 5.58% stake in Sembcorp Energy on payment of Rs4.8bn. GPL will be paid full upside based on market discovered value at the first available monetisation event (less a carried cost of 18% on initial strike price). This upside expires in May 2022.
6
Monetisation of awards & claims
AWARDS
INR 10 Bn+
Different arbitration tribunals/courts have awarded GPL, a total of INR 10 Bn+ interest), towards (including accrued its EPC disputed clients.
receivables
from
CLAIMS
INR 9 Bn+
In addition, GPL has a net exposure to outstanding claims of INR 9 Bn+ in different arbitral tribunals/courts.
7
Likely near term cashflow from Awards & Claims
Conciliation & Settlement mechanism introduced by GOI/NHAI
GOI scheme for monetisation of under litigation arbitral awards against the Bank Guarantees
Total expected cashflow in next 1-2 months
INR 1 Bn+
INR 4 Bn+
INR 5 Bn+
•
The company has recently settled a claim worth INR0.44 bn regarding its AS11 project with NHAI and expects cashflow in next 30 days.
• Advance stage of discussion with its settlement of
NHAI regarding claim for Project AS 10 & AS27.
•
Expected cash flows for GPL from these 3 settlements expected to be close to INR 1 bn and likely to be received over next one to two month.
• GPL is working with MORTH/NHAI and banks to procure appropriate bank guarantees so that 7 specific arbitral awards can be monetised totalling up to INR 5.5 bn+ (75% is 4 bn).
•
•
Expected cash flow of INR 4 bn+ likely to be received over next 1-2 months will go towards repaying the respective bank debts.
In principal approval received from the banks for the bank guarantees to be used for monetisation of under litigation arbitral awards.
8
9MFY20 Highlights
Debt Servicing
• Total debt serviced of INR 2.8 bn (including INR 780 Mn debt repayment) • Experiencing delayed payments from State Govts resulting in delays in its
own interest payment obligations; Care Ratings downgraded to D. Expecting all accounts to be regularised over next 2-3 months
Order pick- up slow
• Slow offtake in NHAI road project; tendering expected to pick up from
Q4FY20
• Expect to win significant orders from a strong irrigation bid pipeline in MP
and Karnataka.
• Avoiding aggressive bidding in Road projects as order backlog strong at 4x
book-to-bill
Execution impacted due to prolonged monsoon
• Road EPC activities significantly impacted because of elongated monsoon
affecting the progress of multiple large projects.
• Rains continued well into November; hence execution to pick up materially
from Q4FY20
9
FY20: Revised Guidance
FY20 Guidance (INR Mn)
Order Inflow
Revenues
EBITDA Margin
INR 25-30 billion
0%-5% Growth
15%
Execution delays due to excessive rainfalls have impacted the full year guidance
10
9MFY20 (YoY)– Financial Performance
Revenue (INR Mn)
EBITDA (INR Mn) & EBITDA Margin
Key Highlights
23,120
25,172
16.5%
14.8%
3,815
3,725
• Revenue – Muted growth, execution impacted
due to prolonged monsoon
9MFY19
9MFY20
9MFY19
9MFY20
PBT (INR Mn)
1,400
1,164
9MFY19
9MFY20
• EBITDA margins significantly impacted because
of muted growth in revenue and due to inflation in fixed operating cost plus significant hit due to expected credit loss provision. On like to like basis, 9MFY20 EBITDA would have been higher by INR 320 Mn.
• Exception loss of INR 4,453.4 Mn recognised on account of diminution in the value of investment in GEVPL.
11
Q3FY20 Snapshot
12
INR MnQ3FY20Q3FY19YoY(%)9MFY209MFY19YoY(%)Revenue8,354 8,779 -5%25,172 23,120 9%Expenses7,149 7,362 -3%21,446 19,305 11%EBITDA1,204 1,416 -15%3,725 3,815 -2%EBITDA Margin14.4%16.1%14.8%16.5%Depreciation199 166 20%586 491 19%Finance Cost737 690 7%2,010 1,986 1%Other Income3 48 35 63 Pre Exceptional PBT271 608 -55%1,164 1,400 -17%PBT Margin3.2%6.9%4.6%6.1%Exceptional*(4,453) - (4,453) - Tax Expense(265) 129 - 213 -100%PAT(3,917) 479 -917%(3,289) 1,186 -377%Pre Exceptional PAT536 479 12%1,164 1,186 -2%Top Work Orders – Status Update – Q3FY20
Project Name
Location
Contract Value (INR Cr)
Balance work as on 01.1.2020 (INR Cr)
Mobilized on Site
Revenue Booking Start
Expected Completion of Project End of Q & Year
Purvanchal Expressway Package 1
Eastern UP
Purvanchal Expressway Package 2
Eastern UP
Ghaghra Bridge to Varanasi Package 2
Varanasi, UP
Ghaghra Bridge to Varanasi Package 3
Varanasi, UP
Sultanpur - Varanasi Package 1
Varanasi, UP
Sultanpur - Varanasi Package 2
Varanasi, UP
1,483
1,276
741
558
986
806
Angul - Sambalpur Road work
Angul, Odisha
1,255
Cuttack - Angul PKG 1
Cuttack - Angul PKG 2
Rajamunda – Barkote
Cuttak, Odisha
Cuttak, Odisha
Barkote, Orissa
Bihar Road (Patna - Gaya)
Patna, Bihar
BSRDC Package 5
BSRDC Package 6
BSRDC Package 7
Kadirganj, Bihar
Kadirganj, Bihar
Kadirganj, Bihar
583
529
394
971
126
127
151
* extended due to prolonged monsoon ^ extended due to delayed land acquisition
1185
963
100
190
382
276
817
459
422
383
498
126
93
125
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Q3 19
Q3 19
Q3 17
Q3 17
Q3 17
Q3 17
Q3 18
Q3 19
Q3 19
Q2 20
Q4 17
Q4 20
Q2 20
Q2 20
Q3 22
Q3 22
Q2 21*
Q2 21*
Q3 21*
Q3 21*
Q3 22
Q3 22
Q3 22
Q3 22^
Q3 22
Q4 22
Q4 22
Q4 22
13
Top Work Orders – Status Update – Q3FY20
Project Name
Location
Nagpur - Mumbai Expressway
Shiridi, MH
6 Lane Tunnel at Khambataki Ghat
Satara, MH
Jammu Ring Road
Jammu
Andhra Pradesh / Tamil Nadu Border
Chittoor, AP
Dimapur - Kohima Package 3
Hyderabad Elevated Corridor
Iqubalgarh to Vadodara : 4744 Kempwad Lift Irrigation Scheme (Rs.1363.49 Cr.)
Chintalapudi PKG 1
Chintalapudi PKG 2
Nagaland
Hyderabad
Vadodara - Gujarat
Karnataka
Pattisema, AP
Jangannagudem AP
PLIS Package 18 (MEIL - HES JV)
Kaleswaram Project (Rs.1482.75 Cr.)
Jadcherla
Siddipeta
Contract Value (INR Cr)
1,312
493
1,339
306
340
425
425
990
989
683
700
600
Balance work as on 01.10.2019 (INR Cr)
Mobilized on Site
Revenue Booking Start
Expected Completion of Project End of Q & Year
1184
493
1052
145
167
362
371
533
780
514
700
570
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Q1 20
Q2 20
Q1 19
Q1 19
Q4 16
Q1 20
Q4 18
Q2 18
Q3 19
Q3 19
Q2 22
Q4 22
Q2 23
Q3 21
Q4 21
Q3 22^
Q3 22
Q4 22^
Q2 23^
Q2 23^
Awaiting for Appointed Date
Expecting Q3 23^
Yes
Q2 20
Q3 23^
TOP WORK ORDERS
PROPORTION OF TOTAL ORDER BOOK
^ extended due to delayed land acquisition
18,588
12,890
92%
14
Growing Order Book : Current Book to Bill of 3.83x
Growing and De-Risked Order Book (INR Bn)
Geographical Diversification
GPL’s Growth in EPC order book over the last 5 years
129
132
163
141
92
48
Gujarat 3%
Jharkhand 2%
Others 3%
Karnataka 4%
Bihar 6%
[CATEGORY NAME]
Uttar Pradesh 22%
FY15
FY16
FY17
FY18
FY19
9MFY20
Jammu 7%
Segmental Diversification
70%
23%
Maharashtra 12%
4%
3%
0.4%
0.1%
0.2%
ROAD
IRRIGATION
MINING
RAILWAY
WATER GRID
LAND DEVELOPMENT
TRANSMISSION
Andhra Pradesh 13%
Telangana 12%
Odisha 16%
15
Significant Deleveraging Despite Continued Strong Revenue Growth
Net Debt/Equity (x)
Net Debt (INR Mn)
2.4
2.1
2.5
16,337
17,399
18,612
17,016
15,443
14,955
1.5
[VALUE]*
1.2
FY15
FY16
FY17
FY18
FY19
9MFY20
FY15
FY16
FY17
FY18
FY19
9MFY20
Debt Maturity Profile (INR MN)
2,090
1,986
2,316
2,139
Working Capital Days
95
105
78
78
48
50
680
FY15
FY16
FY17
FY18
FY19
9MFY20
FY20
FY21
FY22
FY23
FY24 & Beyond
*on absolute basis Net Debt is lower from FY19 levels, However due to recognition of exceptional loss; Net Debt/Eq has increased.
Receivable Days
Payable Days
Inventory Days
Net Working Capital
16
Key Investment Highlights
Strong presence in high growth construction sector
Healthy and diversified pure EPC un-executed order book with good revenue growth visibility
Highly efficient operations with strong execution capabilities
Balance-sheet improvement on track for industry leading metrics in next 3 years
Significant value unlocking through business restructuring
17
Appendix
Strategy – Focusing on ‘Asset Light’ EPC segment
Asset light EPC model o Pure EPC company with no asset-heavy
BOT or HAM project work.
o Diversified across geographies and
practice areas o Deleveraging
and monetizing non-core assets to improve visible Return on Capital
balance-sheet
o Focused on cash flow generation
Explore new opportunities in EPC o Further enhance engineering capabilities in order to pursue new EPC contracts
o Enter specialized sectors with
low
competition and high margins
o Opportunity
underground includes mining, water supply, lift-irrigation, high infrastructure, speed railways, urban pre-fab buildings etc
Grow presence in core EPC segments o Actively bid for quality projects in core irrigation,
areas of expertise- roads, industrials
o Maintain a healthy book-to-bill ratio o Adhere to geographical cluster approach while bidding for projects to optimize management & equipment utilization and maximize profitability
Focus on driving operational performance & execution efficiency o Integrate best practices from different improve performance and
sectors to project execution
o Utilize advanced technologies, designs, engineering and project management tools in order to increase productivity o Strengthen IT systems and other internal processes to reduce manual intervention
19
19
Spotlight on Asset-Light Model
2012-2015 : GPL numbers depressed due to asset
investments
2016 onwards: Business restructuring and Shift towards
Asset-Light model
Core Construction Services business is a high ROCE business;
At the bottom of cycle generated 18.2%
In line with the Industry practice, Free cash flow from Core
Construction activities was used for funding asset acquisition prior to 2016
Historical ROE and ROCE
ROCE - Core Construction Business
20.2% 19.1%
ROE
ROCE
12.7% 10.8%
13.7%
11.2%
12.5%
7.4%
8.3%
9.0% 7.7%
10.8% 8.9%
3.3%
20.2%
15.2%
17.3% 16.8%
33.6%
23.8% 25.1%
27.2% 27.5%
25.3%
20.2%
18.4%
18.2%
2012
2011 * Core construction business ROCE calculated after deducting investment in power
2015
2013
2014
2018
2016
2017
and road BOT assets from the total capital employed
20
2019
2011
2012
2013
2014
2015
2016
2017
2018
2019
20
Strong Execution Capabilities & a Diverse Range of Projects
Projects executed in last 5 years
Segment
Roads Industrial Irrigation Site leveling Dams & reservoirs Railways Total
No. of projects executed
Value of contract (INR Mn)
12 17 10 2 2 1 44
64,587 23,535 10,727 2,382 448 3,845 105,524
Strong BG limits key competitive advantage Company’s existing BG limit provides additional advantage to o Company has existing BG limit of INR 44 bn expand order book & scope for further growth o Existing BG limit provides ability to maintain order book
of over INR 200 bn
o Ability to further increase the BG limits
Roads: Peak executed capacity at ~1,000 kms for the year 2007
S M K E N A L
1200
1000
800
720
680
991
827
553
364 362
232
210
600
400
200
0
652
498
1999 2000 2001 2003 2005 2006 2007 2009 2011 2013 2016
Required Lane Kilometers to be executed (as order)
YEARS
~700 Lane Kms
Capacity to execute
1,100 – 1,200 Lane kms/ year
21
Profit & Loss
All figures in INR Million
22
INR MnFY19FY18FY17Revenue34,63129,12321,154Expenses29,182 24,252 17,919 EBITDA5,4494,8713,234EBITDA Margin15.7%16.7%15.3%Depreciation659547432Finance Cost2,513 2,563 2,014 Other Income7964306PBT2,3571,825941PBT Margin6.8%6.3%4.4%Tax Expense249(55)237PAT2,107 1,881 704 PAT Margin6.1%6.5%3.3%Basic EPS11.310.64.0Balance Sheet
All figures in INR Million
23
ASSETS (INR Mn)H1FY20FY19FY18EQUITY AND LIABILITIES (INR Mn)H1FY20FY19FY18EQUITYNON-CURRENT ASSETS(a) Equity Share capital374 374 374 (a) Property Plant & Equipment3,848 3,763 3,350 (b) Other Equity13,521 12,922 10,856 (b) Capital Work in Progress5 5 - (c) Financial AssetsLIABILITIES(i) Investments10,053 10,088 10,169 Non-Current Liabilities(ii) Loans3,452 3,474 3,563 (a) Financial Liabilities(i) Borrowings5,394 7,121 8,032 CURRENT ASSETS(ii) Other Financial liabilities14,804 14,962 10,332 (a) Inventories5,125 3,574 2,930 (b) Provisions41 48 52 (b) Financial Assets(c) Deferred Tax Liabilities (net)19 21 71 (i) Trade receivables12,717 13,930 11,337 (ii) Cash and cash equivalents725 1,265 569 Current Liabilities(iii) Other Bank Balances2,090 2,002 1,857 (a) Financial Liabilities(iv) Loans2,103 1,887 1,703 (i) Borrowings10,735 9,499 9,591 (c) Current Tax Assets (Net)1,293 1,447 1,385 (ii) Trade payables11,860 10,508 8,043 (d) Other Current Assets18,833 17,206 12,998 (iii) Other Financial Liabilities2,479 2,293 2,042 (h) Other Current Liabilities986 858 446 (c) Provisions34 34 21 TOTAL60,246 58,641 49,861 TOTAL60,246 58,641 49,861 Board of Directors
Mrs. T. Indira Reddy
Promoter and Non-Executive Chairperson, over 25 years of experience in the construction industry
Mr. T. V. Sandeep Kumar Reddy
Promoter and Managing Director, 20+ years of construction experience
Mr. J. Brij Mohan Reddy
Executive Vice Chairman, Over 49 years of experience in Heavy Engineering Construction and the harbour engineering industries
Mr. Birendra Kumar
Non-Executive and Nominee Director (Bank of Baroda)
Mr. K V Ramana Chary
Mr. Ch. Hari Vithal Rao Mr. Ch. Hari Vittal Rao
Mr. G. Sreeramakrishna
Mrs. Rama Devi Nanduri
IAS (Retd.); has held important positions in the Government of Andhra Pradesh and Telangana. Presently, advisor to Government of Telangana
Non-Executive and Independent Director, 49 years of experience as a banker and was employed with Bank of Baroda and Naandi Foundation in the past
Retired as Chief General Manager at State Bank of India in the State of Undivided Andhra Pradesh. He has been on the boards of various Public Limited Companies
Smt. Rama Devi Nanduri has more than 40 years of experience as banker at SBI. She has held several posts across several aspects of banking including retail and corporate credit, international business, inspection and audit, etc
24
24
Management Team - HQ
T Sandeep Reddy Managing Director Masters in Construction Engineering &
Management from University of Michigan, USA
20+ years of construction experience
J Brij Mohan Reddy Executive Vice Chairman Graduate in Industrial Engineering from Berkeley
University, USA
50 years of experience in construction and
engineering
P Sreedhar Babu Chief Finance Officer Fellow Member of Institute of Chartered
Accountants of India
18+ years of experience in finance and banking
D Sitaram President, Business Development In-charge of evaluating new business units,
identifying suitable Joint-Venture partners, and attending review meetings with clients and regulatory bodies
T Rajiv Reddy Vice President In-charge of overall Project Controls & Monitoring,
and head of Mining business unit
Graduate in Industrial Engineering from University
of Illinois, Urbana-Champaign, USA
25
25
Management Team - Projects
K Sesha Reddy Senior Vice President, Transportation In-charge of project monitoring and controls Previously a Project Head at L&T Masters in Construction management from Birla
Institute of Technology
32+ years of experience in infrastructure
G Venkateshwar Rao Senior Vice President, Irrigation Oversees entire irrigation business unit Graduate in Civil Engineering 20+ years of experience in irrigation EPC
MV Suresh Vice President, Roads Oversees road construction projects Graduate in Civil Engineering 20+ years of experience in EPC
CH Ramakrishna Rao Senior Vice President, Roads Oversees road construction projects Masters in Construction management from Birla
Institute of Technology
20+ years of experience in infrastructure
Sudhakar Lolla Vice President, Mining Oversees underground mining projects Masters in Technology and Mining from Indian
School of Mines
18+ years of experience in mining
26
26
Contact Details
V V Chandra Sekhar Gayatri Projects Limited Tel: +91 40 23310330/23314284/4296 Email: vvcs@gayatri.co.in
Sheetal Khanduja Go India Advisors +91 9769364166 sheetal@goindiaadvisors.com
27