Engineers India Limited (NSE: ENGINERSIN) Q2 2025 Earnings Call dated Oct. 30, 2024
Corporate Participants:
Sanjay Jindal — Director (Finance)
Suvendu Kumar Padhi — Company Secretary
Analysts:
Bhoomika Nair — Analyst
Mohit Kumar — Analyst
Aditi Navan — Analyst
Amit Anwani — Analyst
Shirom Kapur — Analyst
Nidhi Shah — Analyst
Sanjay Shah — Analyst
Manoj Saha — Analyst
Unidentified Participant
Presentation:
Operator
Ladies and gentlemen, good day and welcome to the Engineers, India Limited Q2 FY25 earnings conference call hosted by Dam Capital Advisors Limited. [Operator Instructions]
I now hand the conference over to Bhoomika Nair from DAM Capital Advisors Limited. Thank you and over to you, ma’am.
Bhoomika Nair — Analyst
Yeah. Thanks Neha. Good afternoon, everyone and a warm welcome on behalf of the DAM capital to the Q2 FY25 earnings call of Engineers India Limited. We have the management today being represented by Mr. Sanjay Jindal, Director, Finance; Mr. Suvendu Padhi, Company Secretary and Investor relations; Mr. R P Batra, Executive Director of Finance and Accounts and Investor Relations; Mr. Sunil Saxena, Executive Director of Technical and Investor Relations; Mr. Amanpreet Singh Chopra, Senior General manager, CMD officer and Investor Relations; Mr. Vivek Midha, Senior General Manager, Marketing Business Development and IR; and Ms. Neha Narula, Senior Manager, Company Secretary and IR.
At this point, I will hand over the floor to Mr. Sanja Jindal for his initial remarks post which we’ll open up the floor for Q&A. Thank you and over to you, sir.
Sanjay Jindal — Director (Finance)
Thank you, Ms. Bhoomika. Good afternoon, everybody and very happy Diwali to all of you. A warm welcome to Engineers earnings call of quarter two of financial year ’24 ’25. During the first half of financial year ’24 ’25 the order flow in the company amounted to INR5,137 crores we gave with order flow of INR3,400 crores in financial year ’23 ’24. The order inflow in consultancy and engineering segment amounting to INR2,863 crores growth and INR2,274 crores growth in turnkey segment. This was the order flow up to September 30. And in case we consider the order flow in the month of October also, then our total order flow is 6,800 66. The company has ordered order book lot of INR11,155 crores comprising and consultancy segment of INR6,496 crores and under LSTP segment of INR $4650 as on September 30, 2024. However, if we consider the order in for the up to October month, also then our company is having order book of approximately INR12,000 crores. We have declared result of quarter and half year ended September 24 on October 29, 2024. As regards to financial performance for three months ended September 24. The company has registered the amount of INR676 crores to reserve figure of INR611 crores during first quarter of financial year ’24 ’25. It’s a lot from consultancy and engineering segment stood at INR300 crores and from turnkey segments as INR290 crores. Other income during quarter ended September 24 is INR53 crores as compared to INR38 crores during first quarter of the current financial. During the third quarter of company has recorded profit before tax of INR100 crores and tax of INR79 crores in comparison to figure out INR74 crores and INR55 crores respectively. During the first quarter of current financial year showing an increase of 36% in profit before tax and 44% in profit after tax. Notably EPS for the quarter ended September 24 is 1.41 is June quarter 24. It is 97%.
It’s all.
Questions and Answers:
Sanjay Jindal
[Operator Instructions] Mohit Kumar, ICICI Securities. Please go ahead.
Mohit Kumar
Good afternoon, sir.
Sanjay Jindal
And good morning,
Mohit Kumar
On a very good order intro. So, my first question is on the, I think you mentioned that we received the order in October, right? Can you quantify the quantum? And they can just let us know whether it is for consulting or 10 key? And if you can throw the light on the kind of on the exact order received the nature of order.
Sanjay Jindal
In the two months quantum is INR1,729 crores and most of the other part was the LST and rest of the consistency.
Mohit Kumar
Understood sir, my second question is sir on the BPC as we find the I think the has taken off. My question is, has all the packages for consultancy been decided or do you still think there are still some packages are still to be tendered out?
Sanjay Jindal
No, all the packages have been avoided. Work is already all on those packages.
Mohit Kumar
Understood. My last question is on this, on the IOCL Paradip petrochemical has the tender been floated or can we see the tenders to finalize in the second half or do you think this will spill over to FY26.
Sanjay Jindal
No, the tender has already been quoted opened. We have for that, and we have become as been party for both of these packages. So, we are the one and we are likely to get this job in short time after that.
Mohit Kumar
Is it two or three packages? Is what is the single package for the decision for the IOCL Paradip? There were two packages only two tender packages. So, both of them have been a would be coming to us. Understood. Understood, sir. Thank you and all the best, sir. Thank you. Thank you. Thank you very much.
Operator
[Operator Instructions] Aditi Navan, RSP Adventures. Please go ahead.
Aditi Navan
Yeah, hi. Thanks for taking my question. So, I have a few questions around the top line. So, sir, you had guided for about INR3,500 crores of revenue for FY25 and looking at the current 20 we are around INR1,300 crores for us on the first half. So how are we looking for the remaining two quarters? How should we factor in for the revenue? That is one. Second is again, essentially in terms of the revenue. How are we, are we looking for any order of getting concluded in the next two quarters? Which would be contributing to the top line. So, these are the questions on revenue. I have two other questions which I will be taking after you answer.
Sanjay Jindal
Can you repeat the last one, please? What you said your voice is not very clear.
Aditi Navan
So yeah, so my question was are we, so the to revenues seems a little subdued in the first half of the year? So how are we looking at the to revenues for the next two quarters? And are there any big contracts that are going to get concluded? That could add to the top line and that, so that we could meet the guidance of INR3,500 crores of top line?
Sanjay Jindal
Okay. Let me answer the point. Right. First of all, let us discuss about it. As you know, we are getting the business revenue from the two business segments. One is consultancy segment and the second is the 22nd in the consultancy segment, there is an increase of revenue about 3% but there is a down of around 19% in the turnkey segment and 37% 30% This downfall was there because some of the major LP Kob jobs were completed during the first and the second quarter of the, of this financial year. But on the other hand, we have also received some OB PK projects also which are under progress, and we expect that in the coming quarters, what is whatever is the shortfall of the that will be compensated by the existing job jobs which are in progress as well as new jobs which we have received in the first half of the country. And this is the turnout point.
Aditi Navan
Okay. So again, I just wanted to clarify. So, you had mentioned that you’d be targeting about INR3,500 crores of revenue. So are we on track to achieving that.
Sanjay Jindal
We are targeting around this.
Aditi Navan
Okay. Secondly, sir, I was just doing this calculation of Turnkey. So, this order book just a second.? So just to give you one example, let’s say as of the beginning of quarter FY25 the Turnkey order book is about INR3,364 crores. And the new orders that we received were around INR107 crores. When you add these two numbers and then you would get.
Sanjay Jindal
Let me correct on September 30, 2024. My order book is INR11,155 crores and out of this Turnkey segment is INR4,650 crores balances is consultancy segment. So, I, so I was saying this INR4,600 crores will contribute to our system in the coming six months.
Aditi Navan
No, I understand that I was just doing the calculation of you know, adding opening order book as on the at the beginning of the quarter, adding the new orders that you received during the quarter and subtracting my revenue that I’ve that I recognized in the quarter. So, I should be getting the closing order book for Turnkey which should be around INR3,178 crores. But the Turnkey cumulated figure as of September 30 is around INR4,600 crores. So, I just wanted to understand why is this difference? I mean, is there some is that I’m doing wrong somewhere?
Sanjay Jindal
No, there is nothing wrong in that. Basically, you just go for the opening the order book of the turnkey segment at the end of the last financial year, add the new order and then we have the family during the half year, you will be getting almost the order book, whatever we have, send it on only the difference is GST component.
Aditi Navan
Got it. So essentially from FY24 or I should be taking that number, opening number. Okay. Got it. And so, one last question on in terms of RSC. So again, I think previous call we had mentioned, you had mentioned that we’ll be receiving about INR100 crores plus kind of the number of share of income from RSC. So, this quarter, it was a little sub. So is there something that I should be reading into it or the run rate of around INR50 crores — INR53 crores is maintained.
Sanjay Jindal
In this quarter, we have received our profit share is INR22 crores and up to…
Suvendu Kumar Padhi
Up to half is around INR54 crores — to INR55 crores. So going forward also, we expect that we’ll be able to get the same share as you got from the more than INR100 crores.
Aditi Navan
Got it. Thank you. That should be. Thank you so much.
Operator
[Operator Instructions] Amit Anwani, Prabhudas Lilladher capital. Please go ahead.
Amit Anwani
Hi sir. Good afternoon.
Sanjay Jindal
Hi, good afternoon.
Amit Anwani
Yeah, the first thing I wanted to understand that you did highlight that the order book now is about INR12,000 crores and we have received one more order. Just wanted to understand from you. What is the total L1 pipeline if you could highlight the project and values? And apart from L1 pipeline, what is the prospective pipeline project wise and value wise? For FY25 and 26 next 18 months.
Sanjay Jindal
Yeah, with respect to the orders which we have told you that the current business intake is already reached the INR6,800 crores. So, it’s just a half year and we are very much hopeful that we’ll be able to add INR1,000 crores or INR2,000 crores, but let’s say around INR8,500 crores. It should easily reach, should be able to reach with the business, the business.
Amit Anwani
Right. Any notable project you would like to highlight,
Suvendu Kumar Padhi
Sorry, what?
Amit Anwani
Any notable project names you would like to highlight?
Suvendu Kumar Padhi
A number of projects are in the bidding process. And we are like part of like priority which we have been talking about that might there are some other projects in the segment which we are good the client side. So those can I think the name would be difficult at this point of time because some of them are on schedule and might be on the specialist. So, there are certain products are there in the site, this could be realized right?
Amit Anwani
And now with respect to the business performance, since, since there’s so much a book built up is happening, what is our internal assessment or ambition? What kind of annual peak revenue we can do in next three years? Any number you have because we have been seeing the previous years, the revenue has been kind of flat, but now past two years, the order book has built up significantly. Just wanted to understand, can we expect INR4,000 crores kind of revenue in FY27? Any thought you would like to give and same question on the margin. We have been seeing consulting margin has been low. So, any assessment on the new orders and a bit margin for realistic and consulting. And what kind of margins we can do in next two to three years? Because in the previous cycle, we did 20% plus margins also and very good growth also 10 years back. So just a thought, what is a two to three year view of since the order book has now built up?
Sanjay Jindal
First of all, let us discuss about the market and in the consultancy segment, we are maintaining our segment profit of 20% to 25% on regular basis. And in the LCK business, it is around 5% and we are sure to maintain in the coming years also, this kind of market we are targeting this margin.
Amit Anwani
Right and Topline sir?
Sanjay Jindal
And topline, as you’ve seen our order book is all time high and we are expecting more orders to come and we have corporate target of INR5,000 crores target within next week, [Technical Issues.
Amit Anwani
INR5,000 crores within next two years so is it FY27?
Sanjay Jindal
Next two years around…
Amit Anwani
Two years?
Sanjay Jindal
It will take two years.
Amit Anwani
Annual turnover of INR5,000 crores, right?
Sanjay Jindal
Annual of INR5,000 crores that will be good, right
Amit Anwani
Sir, one more thought on the there have been a lot of talks, and you have been also highlighting in the PPT about the new initiatives like green hydrogen coal gasification and biofuel. And there has been talks and policies from government also on various bio energy related stuff. So just wanted to understand the, obviously you have been highlighting or past one year, any meaningful development there, any orders on the annul in this space, any anything which has developed in this area.
Sanjay Jindal
One of the recent achievements in this case was the bio pure refinery, bio your project and the M RT which have, which we have got it on the OB basis around three to go of that work. Is there apart from that, we have done a number of studies and kind of engineering, we initially getting assignments for that. Another major implementation thing has come as of now. But a lot of things are in pipeline and in discussion. So, we are hoping to get them realized for this maybe last two quarters, the major achievement is that bio refinery of the MRP.
Amit Anwani
So lastly sir, just a clarification, all these orders which are in the pipeline, and which have been won in the past 24 months. So largely all these orders are nominated any ballpark, you can suggest that is it cost plus certain percentage? And what is the percentage anything you would like to highlight there with respect to orders.
Suvendu Kumar Padhi
The same profitability, what we receive? There’s nothing specific we can highlight on what cost-plus percentage is there. So, it’s a competitive market. So not like to comment on that, but you as we are maintaining the consistency, profitability of 20% that would be the 20% to 25%. That would be the target and the only 5% to 6% that would remain the target as and whatever assignment we get will aim towards.
Amit Anwani
Sure sir. Thank you so much. All the best.
Suvendu Kumar Padhi
Thank you.
Operator
Shirom Kapur, Prabhudas Lilladher. Please go ahead.
Shirom Kapur
Hi, thank you for the opportunity. And a lot of my questions have been answered, but one thing I wanted to ask is on your international business. You spoke about pickup in opportunities in Africa, specifically Nigeria and Algeria and as well as Middle East and some in Latin America as well. So could you highlight the any developments in your international business?
Suvendu Kumar Padhi
Abu Dhabi, our Middle East office with Abu Dhabi office is doing very well. We have received this year highest order booking from that place. because it’s already reached INR160 crores — INR180 crores. We have already reached from that office that has ever been at sea. So that the office is on the team, and we’ll be further progressing, and we are working with all the group of companies which is the main street, all companies. We just basically, we’re still working on a WECA project, and first base is already on that can pay is expected to come towards the end of this year. So if all goes well, then it will come our way. Similarly in Algeria also, we are bidding for a number of projects. So those are in the bidding process and so far, to get realized it could be adding to our. So that’s the whole thing which we are working internationally is one of the focus areas for us. So, we are working on that.
Shirom Kapur
Okay, thank you. And just another question now, moving to the domestic side and you know, with all the upcoming refinery and Petrochemical capex that we have the next four to five years. So, do you have a, you know, what kind of projects are you currently bidding for in the pipeline? for example, with IOC of course part you mentioned, but any other ongoing projects, such as the Panipat expansion and Baroni etc. with HPCL.
Suvendu Kumar Padhi
Panipat expansion is already here executing. So that would be completed next half year or so other projects which we are on the information, the projects which are in market. We are already on the toes of it and we are waiting for it. Apart from that, there are a number of the ones which we are discussing with some private investors. So those are also there, the bill So let’s hope for the best.
Shirom Kapur
Right? Okay. So yeah, just to clarify that even the ongoing expansions that are going most all those packages have already been bid out. There’s no further packages potentially right now to capture, right? And the ongoing expansion.
Suvendu Kumar Padhi
There’s no package to be awarded. It is basically the physical progress of the project. Most of the packages are awarded by this time and they are in the construction phase.
Shirom Kapur
Okay. Understood. And if you could highlight anything on, you know, I know you mentioned that you receive the biofuel by thein order from an RDL. But anything on green hydrogen or coal gasification that you could mention any projects that you have been, you know, you’re bidding for or for projects on the pipeline as you quantify them.
Suvendu Kumar Padhi
Yeah, many of the companies have floated the centers for on the group bases or operation basis. So actually, we don’t do that so, we prefer to go for the consultancy. So, we are working on a few of the projects of one is of NRL, one is of NLPL registered to the Green Hydrogen on the initial study phases. So, we are working on those kinds of projects.
Shirom Kapur
Okay. Thank you so much. I really appreciate all the answers.
Operator
[Operator Instructions] Nidhi Shah, ICICI Securities Limited. Please go ahead.
Nidhi Shah
Hi, thank you so much for taking my question. I had a couple of questions on, you know, full year margins. So last year we saw margins at 8.8% this is EBITDA margins. So, this year, the first two quarters have been lower than that. Are we expecting margins to improve that is on the entire sales? Are we expecting them to improve in the rest of the year?
Sanjay Jindal
Yeah, we are expecting that the model will be in the same line as last year over a period of time for the financial year.
Nidhi Shah
Okay. Also the new orders that we have secured this quarter, is there potentially a higher upside on those orders than we have orders that are currently sitting in the order book that we’re executing at this point in time.
Sanjay Jindal
You know, over a period of time. Definitely there will be some improvement in the model due to professional efficiency as well as new mega job if we use during the current solution.
Nidhi Shah
Okay. And given that order flow is really great this year and the outlook for the next one to two years is also good. Do we expect that given how much order flow is there in the market that margins would improve on these orders based on that itself.
Sanjay Jindal
The margin will definitely improve on the operational efficiency as well as big ticket order we have received during the consultation. In big ticket order, the margins are more in comparison to the small order. We are very intense competition in comparing to the figures.
Nidhi Shah
All right. And lastly just a couple of questions on RCL is what, what is the, what is the revenue and the EBITDA for H1 for RCL and normally.
Sanjay Jindal
Profit after tax for our sharing around INR55 crores for the half year.
Nidhi Shah
Okay. And RCL revenues for the.
Sanjay Jindal
Just a second, our revenue for the current half year for our share for 46% share is INR729 crores.
Nidhi Shah
Okay. And the same question if you could give me for the Numaligarh and as well, also in, in Q4, you had mentioned that the Numaligarh is undergoing an expansion to be nine MMPS. So how, how is the expansion progressing at this point in time.
Sanjay Jindal
Expansion is going on. But the revenue will be coming only after the expansion is completed. Right now, they are capitalizing whatever they are incurring. Over a period of time, they will be recognizing the revenue as well as the property that will be coming in the form of dividend to the E A.
Nidhi Shah
Okay. By when can I expect the expansion to be completed?
Sanjay Jindal
All right now, I don’t have the status of that. Maybe, maybe by the end of the next year or the end of the next year.
Nidhi Shah
All right. thank you so much
Operator
Sanjay Shah, Prasa. Please go ahead.
Sanjay Shah
Hi, sorry, good afternoon. I hope you can hear me.
Sanjay Jindal
Yes, good afternoon.
Sanjay Shah
Thank you. So just one question in your report, you had mentioned about the opportunities which might come up in the nuclear sector and there were some discussions going on with NTPC and NPCIL. So, is there any progress on that?
Suvendu Kumar Padhi
Yeah, certain discussions are on in the initial stages of it. So, they are anticipating NTPC is anticipating our power plan. It’s a nuclear power plant in times to come. So, we are working with them, and we are trying to approach them so that we get involved in this project in the early stages, but nothing concrete has taken place as of now.
Sanjay Shah
Got it. So, and then in the blueprint for the nuclear sector, would it be just a larger nuclear power price or are you also possibly or likely to get involved in the initiative for the bar of nuclear reactors also? Yeah, primarily that’s a year.
Sanjay Jindal
Most of the assignments that we do is mostly on the balance of alpha plant type of things because all people reactors, we are not involved into because this is operative technologies are regarding that so on. And for the NPCIL project, we did the complete type of plan. So, to the end of the time, we are in the…
Sanjay Shah
Okay, thank you.
Operator
[Operator Instructions] Shirom Kapur, Prabhudas Lilladher Capital. Please go ahead.
Shirom Kapur
Hi, thanks for the follow up. I just had a quick question on some of the projects that have recently been announced by some of the major oil and gas players. So, for example, GAIL has announced, you know, INR60,000 crores for project to set up a ethane gas cracker. Similarly, BPCL and ONGC have also announced proposed major projects for 10 million to 12 million metrics ton to find the capacity, with investments of up to 1.5 lakh crores. So, you know, what is your view on these projects? When do you expect that, you know some of these projects that come in the consultancy? And the vendors could open for such projects.
Suvendu Kumar Padhi
So, all these projects are still in the feasibility stage right now. They have, they have indicated the capex investment but are we right now, they are in the study phase after the study phase is done. They will go for their investment approval from the board and then only anything concrete to come out of the of the platter because what way they will go which location they are going to have? I mean, a work will start only after their initial board approvals. So, these are initially in the feasibility stages, and we were involved in all these feasibility studies.
Shirom Kapur
So, is really participated in the feasibility or there’s still potential you know, feasibility study orders to come in from the project tomorrow.
Suvendu Kumar Padhi
Tomorrow if it comes in which way we go — we will definitely participate.
Shirom Kapur
Okay. Understood. Thank you so much.
Operator
[Operator Instructions] Manoj Saha, Lax Government investments. Please go ahead.
Manoj Saha
Yeah. Thank you for giving me an opportunity and some basic question like if you can explain to me, like regarding the revenue booking status for the consultancy project and turnkey project, like initially what happens for the consultancy, you have got more of expenses because you are in designing stage and so on kind of it. And then later part, the revenue picks up if you can explain this for the consultancy as well as for the turnkey project. That would be very good. Thank you.
Sanjay Jindal
Yeah, basically revenue recognizes for the, basically, we are having a long gestation project in the consultancy as well as turnkey segment. For the major project, the contract period around four years. So, revenue recognition is not linear during the initial p maybe for the 1.5 years, we are able to only a revenue only around 10% after that in the 2nd year and 3rd year, it will be around between 30% to 35% and balance revenue recognized over the next year, 4th year or and so on. So that is the revenue cycle for the long decision contracts.
Manoj Saha
And for the turnkey.
Sanjay Jindal
Yes, similar, similar for the turnkey segment also. We are more in the engineering procurement and construction activity for the project. So, this span over a period of four year for the loan.
Suvendu Kumar Padhi
So, what you’re saying is whether it’s the consultancy projects or it’s a turnkey project, is your revenue taxes more or less remains the same per person and 1.5 year, it will be for the next three to four years. It could connect 30% to 35% of the revenues are book and balance book in the 4th of this year. So, it remains same for both turnkey as well as consultancy for the content for the immediate.
Manoj Saha
Okay, thank you. This is like understanding how the margins will like in this, you will have some expenses in that particular quarter. So margins will be lower in that particular quarter. But if you look at six months a year, then we will be able to have a better handle on that. Thank you.
Operator
[Technical Issues] Individual Investor.
Unidentified Participant
So, thank you for taking my question. I have two simple questions. One is relating to Guiana. I, there was an article in which our company has been awarded the PMC services for the power generation, first of its kind to be run by natural gas. So far, they were doing it by burning diesel. So I’m supremely confident that you would execute it in the most competitive way. What is the possibility of getting more work from this oil rich country which is quite favorable to our country now nowadays? So, one of that more power generating capacities to come there or, and also in the consultancy in oil refinery offshore. And the second question which I have is again to future possible. Work is offshore wind energy. Typically, they’re much bigger than what is there on the land, on the land. So, what is the expectation with the company has in these two respects your take on that?
Suvendu Kumar Padhi
Yeah, thank you. This is right now. This is a project which includes the natural gas liquid project as well as the power plant. So, I think it’s 400-Megawatt power plant is there. So right now, we are the project management consultant for this gas is coming from the Exxon Mobil, who we are actually operator of the oil fields there and he’s supplying the gas and coming to a pipeline to the facility. We are working as a project management consultant, managing an etc contractor who has been appointed by the, by the government and we have also been appointed by the government. So, we are managing their projects and trying to get it commissioned at the earliest because that’s a major need for them. We just basically the anticipation in the future because they have ample oil right now. It’s mostly being governed by the Exxon Mobile. They, they are anticipating an oil refinery there and they’re also anticipating a fertilizer project in the country, but it’s going to take some time because actually what they want is they don’t wish to invest, they want, they are looking for the investor to invest that project. So that is the pitch right now because it’s quite related. If the government must have invested, would have invested, it would have been faster. So, they are looking for the parties to invest in all these projects. That is the current situation of these projects, and we also anticipate there will be an expansion in the existing power facility in times to come because they intend to supply that power across the countries in the neighborhood countries also. So that is also a future projection towards that. So, and we are very much well placed working with the government. So, let’s go for the best. But actually, this job which we have got was under the competition. So, there will be competition future.
Unidentified Participant
Yes. And how about this offshore wind energy possibilities?
Suvendu Kumar Padhi
The offshore wind, the thing is like offshore is already close to our heart because we have our own offshore team working on this because we have been working for all the on DC projects and extensive experience in offshore fields. We have done more than 248 offshore platforms, but primarily we are in the offshore Enginery platform designing and all we have not done any drinks with type of getting involved in some of the projects. And as soon as these a lot of opportunity comes, we would definitely like to target the observing projects because we are looking into certain opportunities, and we discuss it with all the clients. So, because we have the good strength of designing facility, basically platform designing. So, it very well deals with the our capability. But all these are when the mail would come as a package because we have not much to do in that one because those are all supplied items. So, our primary focus would be only the off facility when we have the good.
Unidentified Participant
Do that. But since it’s on a much bigger scale than what is there on the land, and this would be perhaps among the first one. So the possibility even of this being the bigger larger chunk of this and our expertise in the offshore, what could be the possible market size in case of India is to achieve, you know, renewal this thing of certain percentage by 2030 which is not very far away. So, governments are focused on that. And what is your sense?
Suvendu Kumar Padhi
I’ve already told you strength, why we are going no issue with that. We can do those projects. Basically, in all these projects, you have HPDP on the offshore platform and the your win would be separate. It would be a good site and there will be an integration involved between all these facilities. So, we are very good integrator as well as designer of the offshore facility. So, we are very well equipped with all kinds of skills. When these jobs are coming, I will come in the market. We’ll be bidding for that. And so that’s the current day and we are developing our skills and asking our teams to be exposed with the little option, developments and all. So, we are getting ready for all these kind of opportunities in times to come.
Unidentified Participant
Yeah, thank you so much and wish you a very happy Diwali.
Suvendu Kumar Padhi
Same to you.
Operator
[Operator Instructions] I now hand the conference over to Ms. Bhoomika Nair for closing comments.
Bhoomika Nair
Yeah. Yes, sir. Thank you very much for giving us an opportunity to host the call and wishing you all the very best and a very happy Diwali to you and also all the participants. Thank you very much, sir.
Sanjay Jindal
Thank you very much. Thank you Bhoomika. Happy Diwali to all of you.
Operator
[Operator Closing Remarks]