We operate in a competitive atmosphere. We compete against various domestic engineering, construction and infrastructure companies such as P D Agrawal Infrastructure Ltd, Apex Structure Pvt Ltd, A.K. Shivhare Infrastructure Pvt Ltd, CMM Infra projects Ltd, K.T. Construction, B.R. Goyal Infrastructure Ltd for infrastructure projects.

Our competition depends on various factors, such as the type of project, total contract value, potential margins, the complexity, location of the project and risks relating to revenue generation. While service quality, technical ability, performance record, experience, health and safety records and the availability of skilled personnel are key factors in client decisions among competitors, price often is the deciding factor in most tender awards.

Some of our competitors may have larger financial resources or access to lower cost funds, or may have stronger engineering or technical capabilities in executing complex projects, or projects with certain specifications or in certain geographies. They may also benefit from greater economies of scale and operating efficiencies. Further, the premium placed on having experience may cause some of the new entrants to accept lower margins in order to be awarded a contract. The nature of the bidding process may cause us to accept lower margins in order to be awarded the contract. In certain instances, certain competitors may choose to under-bid, which may adversely impact our market share, margins, revenues and financial condition.