India’s biggest power equipment manufacturer BHEL said on Wednesday that new orders especially from the private developers are drying up due to financing problems.
However, BHEL is betting big on revenues flowing from exports and its chairman, BP Rao told reporters that the company expects a revenue of Rs. 10,000 crore from foreign contracts by 2017.
“We are expecting a revenue of Rs. 1 lakh crore for the company by 2017 of which 10% would come from exports ... i.e Rs. 10,000 crore,” Rao said.
Rao said he is not hopeful of “any big tenders coming from the private sector.”
“Whatever orders are coming are from the central or state public sector companies,” Rao said. “This year, there are hardly any bulk deals coming.”
Rao said that overseas market has always been a focus of BHEL, irrespective of what is happening in India.
Some overseas markets like Syria and Yemen have political disturbances today, he added.
Stating that Africa is a focussed market for BHEL and the PSU is looking at a number of projects there.
“The company is already executing some projects in the African continent and is also looking at South-east Asia and Gulf countries for fresh orders,” Rao said.