Infra Sector Q3 Earnings Preview: Robust Execution Momentum Continues, Says Prabhudas Lilladher  
A construction crane at construction site.  (Photographer Liesa Johannssen-Koppitz/Bloomberg)

Infra Sector Q3 Earnings Preview: Robust Execution Momentum Continues, Says Prabhudas Lilladher  

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Prabhudas Lilladher Report

We expect a strong execution in Q3 FY21 versus H1 FY21 for our infra coverage universe with average revenue expected to grow by approximately 5.3% YoY versus decline of 17%/ 44% in Q2/Q1 FY21.

We expect Ebitda margins to sequentially show sharp recovery as operating leverage kicks in.

Q3 will be primarily driven by -

1. sharp bounce back in labour availability to pre Covid-19 levels, across major project sites,

2. sustained awarding momentum across roads, urban infra and water infra segments,

3. timely disbursal of payments from government authorities and low-interest Covid-19 loans.

Click on the attachment to read the full report:

Prabhudas Lilladher Infrastructure Q3FY21 Earnings Preview.pdf

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