EPC road firms could face slowdown in revenue growth in FY20, FY21: Crisil

Slower project awarding and delayed receipt of 'appointment date' (on which projects are kicked off) from the NHAI are the main contributors to this decline

Revenue growth of road developers in the engineering, procurement, and construction (EPC) segment could halve in 2019-20 (FY20) and 2020-21 (FY21) to 15 per cent, compared to 30 per cent in 2018-19 (FY19), according to a CRISIL study.

Slower project awarding and delayed receipt of “appointment date” (on which projects are kicked off) from the National Highways Authority of India (NHAI) are the main contributors to this decline.

“The NHAI awarded 7,400 km in FY18, which slowed the following year to about 2,200 km. In the current financial year (FY20) and the next (FY21), this is expected to be 4,000 km a