Hindsight: Closing the year 2013-14 we expect a good growth in revenue compared to past years, since output has perhaps peaked in this year, because of executing many domestic and international projects.
The speed of implementation was hampered to an extent by difficulties in the global supply chain. We also had a number of changes to implement on behalf of clients, within the awarded projects, which called for extensions to schedule. Costs of skilled personnel resources have also risen significantly due to demand.
FORWARD LOOK: 2014-15 is expected to be more ´flat´, though it will be interesting to see how quickly projects fructify.
Our expectation is that the worst is not yet over for the industry and the relative lull in the business may continue for some time more. O and G projects and particularly in E and P are invariably short-schedule and ´quick to announce´. We are hopeful that there will be a turnaround towards the middle or end of next year.
Our plans are to grow capability both geographically and product wise. We are looking to pursue projects in South East Asia, Africa and to enter new business like offshore Rigs and MOPUs.
Udayan Dasgupta, SVP-Upstream O and G Business, L and T, which has projects from ONGC, British Gas,Petronas and Adma-Opco lined up this year