Era to start two Nagpur plants by November

New Delhi-based Era Infra Engineering is set to commission by November its subsidiary Era T&D’s transmission tower facility and group company Era Building Systems’ pre-fabricated building plant in Nagpur, said chief financial officer Joy Saxena.

Era T&D, formerly Era Power, is a 100% subsidiary of Era Infra, which also holds 29% in Era Building Systems.

The capex of the pre-fab plant is about Rs190 crore and that of the tower plant is Rs35-40 crore.

“Four of the five lines at the pre-engineered building plant are operational and we will commission the whole thing in about three months,” said Saxena.

The pre-fab plant has a capacity of 14,000 tonne per annum (tpa).
Era has another 50,000 tpa plant at Pantnagar, Uttarakhand, which became operational over two years back. The company has no plans to up the capacity at Pantnagar.

Era Building Systems turned over Rs375 crore last fiscal. “This year, we are looking to grow at 30-40%,” said Saxena.

The transmission tower facility, with a capacity of 30,000 tonnes, will be the company’s first.

The plant will be used to service Era’s T&D orders, which currently stand at just over Rs140 crore.

“We have pre-qualified for orders worth Rs400 crore,” said Saxena.

The rest of Era Infra’s order backlog stands at Rs10,000 crore, of which roads form over 30%, power about 22% and the rest from urban infrastructure and other sectors. Besides T&D, Era also takes up Balance of Plant (BoP) contracts in the power space.
In the quarter ended June 30, while Era Infra’s topline rose from Rs708 crore to Rs815 crore, net profit dropped from Rs96 crore to `59 crore.