Infrastructure developer NCC Ltd on Friday said it stood to lose works worth ₹ 6,100 crore in the event of the Andhra Pradesh government cancelling all work orders issued prior to April 1 but work on which had not commenced.
“We understand that the government of A.P. is considering to cancel work orders issued prior to April 1, 2019… if this were to happen work orders totalling approximately ₹ 6,100 crore issued to our company are likely to be cancelled,” NCC said.
Stating this in response to a clarification sought by the stock exchange, NCC said though there were media reports of the government proposing to review some of the contracts awarded by the previous government, the company, however, “not received any communication from the government of AP in this regard.”
NCC said it started the financial year with an order book of ₹41,197 crore.In the event of the ₹ 6,100-crore order being cancelled, it expected to maintain the 2019-20 turnover at the same level as that of last financial year with the remaining order book.
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