Efforts on to make up for the lost time due to Covid-19: Punj Lloyd

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Punj Lloyd on Thursday said it is making efforts to make up for the lost time due to the COVID-19 pandemic, adding it does not foresee any significant impact due to the non-fulfilment of its contractual obligations towards customers.

The company is currently being managed by Resolution Professional Ashwini Mehra, as per the provisions of the Insolvency and Bankruptcy Code (IBC).

"With the graded opening of sites, the Company is making every effort possible to make up for the lost time due to the pandemic, during the year. "The impact of the lockdown disruption will have to assess from time to time and communicated as we progress into the financial year," the company said in a BSE filing.

It is premature to forecast the future impact with credibility at this stage, it added.

Adequate steps are being been taken to ensure effective internal financial controls and various austerity measures are taken, it said.

"At present, the Company does not foresee any significant impact due to the non-fulfilment of its contractual obligations to the customers or any other counter party arising out of Covid-19 pandemic," it added.