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Company Name : Sunil HiTech Engineers Ltd.

Monday, May 22, 2017 11:27AM IST (5:57AM GMT)

(NSE:SUNILHITEC)(BSE:532711)

Sunil Gutte Sees Opportunity as Government Plans 5 Lakh Crore of Highway Contracts


Mumbai, Maharashtra, India

The Narendra Modi Government has posed a target of awarding Rs. 5 lakh crore worth contract for highways construction of about 50,000 kilometres in the oncoming two years of its tenure. This target surpasses cumulative road length which was awarded in past five years. Mr. Sunil Gutte, the Managing Director of Sunil HiTech Engineers Ltd. is determined to win huge projects of highway contracts under this project plan.

The government has set a target of almost 15,000 kilometre of highway construction, which is 45% increase than in FY17 than what was achieved in past few years. In the last three years, the ministry awarded contracts of more than 34,000 kilometres of roads against only 15,000 kilometres that the UPA government had awarded in the last three years.

“Fast paced construction projects will bring huge prospects for Sunil Hitech Engineers Ltd.," says Sunil Gutte.

The Road Transport and Highways Minister, Nitin Gadkari says that these contracts will be dedicated to 10 expressways and 44 economic corridors, and Sunil Gutte finds this announcement as a sign of gearing their operations towards cracking some of these project deals. The contract will also encompass the northeast connectivity programme, border-linking projects, and ‘chardham’ connectivity programme.

Sunil Hitech Engineers Ltd. Aims to Bid for Road Projects

As seen in the last five years, about 40,000 kilometre work was awarded by the government for fresh highway length construction. Out of these, Sunil Gutte assisted Sunil Hitech Engineers Ltd to win Rs. 982 crore highway projects (in Hybrid annuity Model), in Maharashtra, assuming to become a major player in the road sector. It has also made through a similar project in Bihar.

The company has secured road projects in Jharkhand and Maharashtra of worth Rs. 935.91 crore. The orders comprised of rehabilitation & upgradation of Parli-Pimpla-Dahiguda Road to two/four lane paving shoulder in Maharashtra on EPC basis by Public Works Department (PWD), Maharashtra worth Rs 134.45 crore.

The government has planned several projects for overall development of India with new highways oriented to decongest the existing roads and bring down logistics expenses by 5 percent to 6 percent. The ministry’s vision is highlighted in the goals of Sunil Gutte as well, who aims to lead the highway projects for smooth movement of freight vehicle to do at least 400 kilometres per day, as per Ministry’s objective.

For the moment, the 10 expressway projects are at different stages of implementation, and the government is trying to raise funds via NHAI bonds, additional allocation via budgetary support and monetisation of highways. As per records, the centre’s first expressway and Eastern peripheral expressway are set to be ready in a few months duration.

Road and Highways Projects Bagged by Sunil HiTech Engineers Ltd.

Sunil Hitech Engineers Ltd. had earlier received order for rehabilitation & upgradation of Parli-Pimpla-Dahiguda Road to two/four lane with paved shoulder in Maharashtra on EPC basis from Public Works Department (PWD), Maharashtra, costing worth Rs 134.45 crore. Another order was about rehabilitation & Augmentation of four laning of Kutchery Chowk-Ranchi-Piska More-Biju Para section of NH-75 in the state of Jharkhand on EPC mode from National Highway Authority of India (NHAI) of Rs 235.90 crore.

Lastly there was an order worth Rs 257.40 crore pertaining to rehabilitation and upgradation of Ajanta-Buldhana-Khamgaon-Shegaon-Deori Road in Maharashtra on EPC basis from Public Works Department (PWD), Maharashtra.

The Public Works Department (PWD) of Maharashtra had also awarded a contract of Rs 308.16 crore to the company for rehabilitation & upgradation of Nanded-Bhokar-Himayatnagar-Kinwat-Sarkhani-Mahur-Arni-Road to two-lanes with paved shoulders in Maharashtra on the basis of EPC.

Sunil Gutte Hopes to Increase Participation in Highway Constructions

Sunil Gutte has pulled up the resources from Sunil HiTech Engineers Ltd. and aspiring to win majority of hybrid annuity model projects, where the government shares with private partner to about 40% of the cost of project. Paving work for the 30,000 kilometre of highways out of the 50,000 kilometre of road length shall be awarded for construction, and may begin in the coming two years.

With fast-paced networking and construction of highways, Sunil Gutte is eager to help the ministry to complete its target with the company’s support. In last three years, about 22,000 kilometres was constructed as compared to 6,000 kilometres seen in the last three years under the UPA government.

Thus, the Narendra Modi government has brought a positive spark in escalating the highway project completion, and Sunil Gutte is prepared to take up some of these major contracts.


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Sunil HiTech Engineers Ltd., +91 (22) 61872400, wr@sunilhitech.com


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News Summary

The Narendra Modi Government has posed a target of awarding Rs. 5 lakh crore worth contract for highways construction of about 50,000 kilometres in the oncoming two years of its tenure.