PSP Projects And Som Distilleries In Focus | The SMID Show | NDTV Profit - video Dailymotion

NDTV Profit

- #PSPProjects emerges as L1 bidder for #RVNL project in #Gujarat - #SomDistilleries beats estimates in its Q3 earnings   Hiral Dadia and Hersh Sayta bring you small and midcap stocks to keep up with on 'The SMID Show'. #NDTVProfitLive   Guest List: Prahala Shivram Patel, CMD PSP Projects J.K. Arora, CMD, Som Distilleries & Breweries _______________________________________________________  For more videos subscribe to our channel: https://www.youtube.com/@NDTVProfitIndia Visit NDTV Profit for more news: https://www.ndtvprofit.com/ Don't enter the stock market unaware. Read all Research Reports here: https://www.ndtvprofit.com/research-reports  Follow NDTV Profit here Twitter: https://twitter.com/NDTVProfitIndia , https://twitter.com/NDTVProfit LinkedIn: https://www.linkedin.com/company/ndtvprofit Instagram: https://www.instagram.com/ndtvprofit/  #ndtvprofit #stockmarket #news #ndtv #business #finance #mutualfunds #sharemarket  Share Market News | NDTV Profit LIVE | NDTV Profit LIVE News | Business News LIVE | Finance News | Mutual Funds | Stocks To Buy | Stock Market LIVE News | Stock Market Latest Updates | Sensex Nifty LIVE | Nifty Sensex LIVE

Transcript

00:00 [MUSIC PLAYING]

00:03 [MUSIC PLAYING]

00:06 [MUSIC PLAYING]

00:10 [MUSIC PLAYING]

00:13 [MUSIC PLAYING]

00:17 [MUSIC PLAYING]

00:20 [MUSIC PLAYING]

00:24 [MUSIC PLAYING]

00:27 [MUSIC PLAYING]

00:31 [MUSIC PLAYING]

00:35 [MUSIC PLAYING]

00:39 [MUSIC PLAYING]

00:44 [MUSIC PLAYING]

00:48 [MUSIC PLAYING]

00:53 [MUSIC PLAYING]

00:57 [MUSIC PLAYING]

01:01 [MUSIC PLAYING]

01:06 [MUSIC PLAYING]

01:10 [MUSIC PLAYING]

01:15 [MUSIC PLAYING]

01:22 [MUSIC PLAYING]

01:25 Good morning and welcome.

01:34 You're watching the Small and Mid-Cap Show on NDTV Profit.

01:37 I'm Harsh Saita.

01:38 Quick check where markets are at.

01:41 You're looking at around a 0.5% cut on the Nifty.

01:43 The way we started off, honestly, we'll take this one,

01:47 is what I believe.

01:49 Quickly looking at what is really causing the declines,

01:52 as well as the advanced decline ratio itself.

01:55 Now, largely, we are seeing that some bit of green

01:59 starting to creep in with regard to where

02:01 the advanced decline is.

02:02 There you go.

02:04 2 is to 1 currently, where the NSE advanced decline

02:07 ratio currently stands at in favor of the declines.

02:10 You're seeing largely the drag coming in,

02:13 or continuing to come in, from HDFC Bank,

02:16 contributed nearly 200-plus points yesterday,

02:20 negative points, contributing another 66.

02:23 So adding to some of those declines,

02:25 HDFC Bank today as well, you're down around 2-odd percent.

02:30 You also have a drag coming in from LTI MineTree,

02:34 which is contributing roughly 14 negative points, down 10-plus

02:38 percent.

02:39 That's the largest decline that we've seen from an LTI MineTree

02:42 since 2020.

02:44 So the COVID decline was probably the largest decline.

02:49 After this, we haven't seen much of this kind of a decline

02:53 with regard to LTI MineTree.

02:55 Asian Paints also down roughly 3-odd percent.

02:58 So therefore, largely, what it seems to be is,

03:01 it's a market which is more earnings-focused.

03:04 In terms of where the broader market, as well as

03:06 the sectoral indices, are doing, the broader markets are largely

03:10 trading in tandem with the Nifty 50,

03:12 around 6/10 of a percent of a decline on the Nifty mid-cap.

03:16 The small-cap index also, roughly,

03:20 you're seeing a decline of around a quarter of a percent

03:23 on the Nifty small-cap as well.

03:25 In terms of where sectoral indices are,

03:27 you're seeing most sectoral indices in the red.

03:30 Nifty PSU Bank has just crept up in the green as we speak.

03:33 Oil and gas also a wee bit in the green.

03:36 But other than that, absolutely flat,

03:38 even where the Nifty PSU Bank is concerned.

03:41 So that's where we are at, where markets are concerned.

03:43 But we have very interesting, or we

03:45 have quite a few very interesting,

03:46 managements lined up on this show, which

03:49 is a small and mid-cap show.

03:50 We always focus on those managements.

03:53 And we have PSP Projects, which is in focus.

03:55 The company has emerged as the L1 bidder for a project,

04:01 for an RVNL project, which is in Gujarat.

04:04 It's also won four other projects in Q3,

04:08 all the way up to now.

04:09 And as we spill over into Q4, around 1,450-odd crore

04:14 of projects won.

04:15 And it's expecting to expand its footprint from Gujarat

04:19 into other states.

04:20 It's targeting an annual revenue growth of roughly 15% to 20%.

04:24 And we have with us Prahlad Shivram Patel, who

04:27 is the CMD at PSP Projects, who's

04:30 here to talk to us about what's happening.

04:33 So talk to us about, in particular, this order win,

04:36 as well as the 1,450-odd crores of additional orders

04:39 that you've won.

04:40 Give us some color with regard to orders, the pipeline,

04:43 as well as also if you can tell us

04:46 how margins will look with some of these incremental orders

04:50 that have come in.

04:52 Good morning.

04:54 First of all, talking about the order which we have won

04:56 for RVNL.

04:57 It is the Gatishakti University related to railways.

05:00 And this will be developed in Baroda.

05:02 And this project is about 630 crore

05:05 is the price for which we have won this project, excluding GST.

05:09 And this is to be completed in 24 months.

05:13 Most of the buildings has to be completed

05:16 within 15 to 18 months.

05:18 And the rest of the total project

05:19 will be completed in 24 months.

05:22 Talking about the other projects where we have stood lowest,

05:24 the road dam, which is a development of the road dam,

05:28 which is to this place.

05:29 And it is being a project by state government of Gujarat.

05:34 There is one project in Sain City,

05:35 which we have stood lowest.

05:37 There is one project of the river,

05:38 the riverfront development of Sabarmati River,

05:41 which is about 450 crore.

05:43 So talking about the L1, it is about 1850 crore.

05:47 And talking about the project which we already

05:49 can receive the orders, is about 1063 crore.

05:52 So totally, if you see the project which we have,

05:57 and we say the project which we were expecting the inflow

06:01 for this year, which we announced was 3,000 crore,

06:04 we have already reached to 2,913 crore till date.

06:08 So that's about the project.

06:10 And about the big pipeline, see we

06:12 see a lot of big bids are going on in the process.

06:16 So we as a company, we are also having about 8,500 crores

06:20 of order bid pipeline, out of which

06:23 there are a few large projects which I would like to discuss,

06:25 is the elevated station development of Delhi,

06:28 which is about 4,700 crore.

06:31 There is a new airport, expansion

06:33 of new airport at Varanasi, which is about 1,000 crore.

06:35 There is one museum in MP, Omkareshwar,

06:40 which is about 1,000 crore.

06:42 We have already bidded and tendered

06:44 for Amul Dairy, National Dairy Development Board in Rajpur,

06:47 which is about 400 crore.

06:49 There is a project also for IM, expansion of IM in Indore,

06:54 which is about 450 crore.

06:56 So totaling, it's about more than 8,000 crores

07:00 of bid pipeline.

07:01 So the output looks good for a building construction

07:05 company like us, because we are mostly

07:07 focused on large projects of medical,

07:10 or large projects of education, or large projects related

07:13 to airports in the railway stations, which

07:16 are the prime objects of government investment

07:21 as of now.

07:23 So point taken, sir.

07:25 I want to try and understand from you,

07:27 before I come to margins, as to out of this 8 and 1/2

07:29 or 1,000 crore, how many, or what's

07:32 your internal target like?

07:34 What are you looking to win in terms of orders?

07:38 So usually, we on an average, throughout the year,

07:40 the bid pipeline remains between last year,

07:43 if you have the pre-COVID or after COVID,

07:45 it was in the range of 5,000 crore.

07:47 But since last 1 and 1/2 year, we

07:48 are seeing this bid pipeline in the range of 8,500 crore.

07:52 And on an average, we usually win between 10% to 12%.

07:56 So still, this 8,400 crore, as we have already

07:59 reached to 3,000 crore, we will be moving a little bit

08:02 cautiously from here.

08:03 Because at the end of the day, growing a bid book

08:05 is not my concern.

08:07 It is more about how we deliver the project,

08:09 how we maintain our EBITDA level,

08:11 and how we perform on the project.

08:12 That's the major focus on which companies and--

08:17 So understood.

08:17 And therefore, would there be a larger thrust

08:20 on winning projects with higher margins?

08:23 And what would the nature of those projects be like?

08:27 See, as I said, the government spending

08:29 is more on infrastructures of railways,

08:31 infrastructures related to airports,

08:33 infrastructure related to medicals,

08:34 because all the government has already

08:37 announced district-wide medical college and hospital.

08:40 We are already doing seven medical colleges

08:41 and hospitals in UP.

08:43 So that will be the main focus of the company

08:47 will be in the same criteria where we have been--

08:50 we have performed.

08:52 At the same time, those things will help us

08:54 into pre-qualifier for such large project.

08:56 After completion of Solar Diamond Boost,

08:58 we have reached to that level that we can qualify

09:00 for 3,000-crore project.

09:02 So it will be in the same range and the same field

09:05 where we have been able to perform it.

09:07 Understood.

09:08 Understood.

09:09 And your expected growth kind of roadmap

09:14 is around 15% to 20% year over year.

09:17 My guess is you'll get to 2,400 crore

09:19 and then closer to 3,000 crore by FY25.

09:22 Is that how one should look at it with a 12% odd margin?

09:26 Is that the right way to look at PSP?

09:29 Yeah, of course.

09:29 This is the criteria on which we usually

09:31 build that in trying to maintain our EBITDA level between 11

09:34 and 12 or 11 and 13.

09:36 And overall, keeping the revenue growth of 15% to 20%.

09:40 At the same time, keeping the overall order

09:45 being of more than 25% from the last year's revenue.

09:49 That's how we have been doing last four or five years.

09:51 And that's how we have been able to perform.

09:53 So it's still trying to remain in the same range.

09:57 Sure, understood.

09:58 And you have roughly 250 crore of cash in your books

10:01 is what I am seeing at the end of Q2.

10:03 Please correct me if I'm wrong.

10:05 And therefore, you have another 500 crore

10:06 of cash coming over the next couple of years

10:08 at the very least.

10:10 What are the CAPEX plans like and what do you

10:12 plan to do with this money?

10:14 So usually, CAPEX in construction or building

10:17 construction companies like us, it's

10:19 not something we plan at the start of the year.

10:23 It is more about the requirement of the project.

10:25 So as in when the projects are worn.

10:26 And then the requirement of the project

10:28 is some specific requirement of sheltering

10:31 or some major machinery like tower crane or RMC plant.

10:34 But usually, whatever we have, we usually

10:36 move first from the existing plant and machinery.

10:40 But on an average, we have gone through about 3% to 4%

10:44 of our CAPEX expenditure every year.

10:49 So it will be in the same range that we

10:51 should be in the range of keeping 3% to 4% of CAPEX

10:54 doing every year, depending on the revenue

10:56 and depending on the orders.

10:59 Sure, understood.

11:00 And what are the risks from a raw material standpoint?

11:04 Are these largely hedged within the contracts you take?

11:06 So are you building the contracts for--

11:09 or are you building escalation clauses

11:12 within the contract with regard to some of the projects

11:16 that you're taking up?

11:17 So usually, private projects where

11:19 we are doing [INAUDIBLE] ranges between 30% to 40%

11:23 on the private and 60% to 70% on government.

11:25 But yes, private projects are 100%

11:27 hedged for the escalation part of cement, steel,

11:30 and other finishing materials.

11:32 But as far as government projects,

11:33 most of the projects carry escalation

11:35 through RBI index, which may give you about 75% to 80%

11:39 of what you are spending.

11:40 So more or less, it is covered through RBI index

11:43 and the escalation formulas related to indexes

11:46 of the [INAUDIBLE]

11:49 Understood.

11:49 And out of the current order book, what component of that

11:52 is government versus private?

11:54 If you can just break that up for us.

11:56 Before receiving the order book, the orders

12:00 which we have announced and the orders which we have received

12:02 still be then between 40% as private and 60% as government.

12:07 Sure, understood.

12:08 Thank you so much for this.

12:11 It's been a pleasure speaking with you.

12:13 And Mr. Prahlad, I look forward to speaking with you

12:17 one more time very, very soon.

12:19 But wishing you all the very best for the upcoming results

12:23 as well.

12:25 Well, that was, of course, the management of PSP projects.

12:27 The stock is largely flat in a tough day of trade.

12:30 In fact, it's recovered from the day's low.

12:33 But with that, let's slip into a very short break.

12:36 Up next, the management of SOM Distilleries

12:38 on the back of numbers as well as the fundraise.

12:41 And we have the management of Nazara Tech as well.

12:44 So stay tuned.

12:45 We have a packed lineup for you on this mid-show.

12:48 [MUSIC PLAYING]

12:52 [MUSIC PLAYING]

12:55 [MUSIC PLAYING]

12:59 [MUSIC PLAYING]

13:03 [MUSIC PLAYING]

13:06 [MUSIC PLAYING]

13:13 [MUSIC PLAYING]

13:21 [MUSIC PLAYING]

13:29 [MUSIC PLAYING]

13:32 [MUSIC PLAYING]

13:57 [MUSIC PLAYING]

14:00 [MUSIC PLAYING]

14:27 [MUSIC PLAYING]

14:30 [MUSIC PLAYING]

14:47 [MUSIC PLAYING]

14:50 [MUSIC PLAYING]

15:14 [MUSIC PLAYING]

15:17 [MUSIC PLAYING]

15:33 [MUSIC PLAYING]

15:37 [MUSIC PLAYING]

15:55 [MUSIC PLAYING]

15:59 [MUSIC PLAYING]

16:17 [MUSIC PLAYING]

16:20 [MUSIC PLAYING]

16:33 Welcome back.

16:40 You're watching the Small and Mid-Cap Show here

16:42 on NDTV Profit.

16:44 I want to quickly flag off Soam Distilleries

16:46 because we have the management lined up right

16:49 after this for you.

16:51 You have the stock up and away 3 and 1/2% higher.

16:54 Strong revenue growth seen, 64% higher on a year-on-year basis.

16:58 EBITDA also up nearly 87-odd percent

17:02 on a year-on-year basis.

17:03 You're seeing margins which have expanded by around 50 whips.

17:06 That about's to the 11.95, now kissing distance to 12%, mark.

17:11 And your net profit is up a solid 71%.

17:14 18 crore is the kind of net profit they've clocked.

17:17 This company is into, of course, distilleries,

17:21 but is largely guided for a very strong growth

17:25 when it comes to its business.

17:27 They are looking at quickly ramping up its business.

17:31 And the top line, which is roughly

17:34 at an annualized run rate of around 11 to 1,200 crore,

17:38 is expected to go up significantly

17:40 to the 10,000 crore mark by FY '28 or thereabouts.

17:44 So of course, we will have-- or we

17:47 do have the management, which is the CMD of Soam Distilleries,

17:52 Mr. JK Arora joining us, with regard to also its fundraise

17:56 as well as the IT department search.

17:59 And we'll try and cover all those bases, lots of bases

18:02 to cover in a very short period of time.

18:04 Welcome to NDTV Profits.

18:05 It's a pleasure having you here.

18:07 Thank you.

18:07 Hi.

18:13 Right, so your margins have expanded by roughly 50 bps.

18:17 It's a good expansion when I'm looking at it.

18:21 What are the factors or what are the levers that

18:24 are helping you expand margins, and where do they go from here?

18:28 You see, anything, the ultimate thing is the consumer.

18:35 When consumer accepts you, everybody

18:37 accepts you with the open arms.

18:39 So in our case, the consumer is the God for us,

18:44 and it is the acceptance of the brand which has

18:48 given such a fantastic growth.

18:52 In fact, since the inception of the company in '94, '95,

18:57 we didn't have such growth from--

19:01 since beginning.

19:02 So this is quite a satisfactory performance for us,

19:07 and we are quite happy with it.

19:09 Especially when this quarter is normally

19:13 weak because of the Shah, the Ganesh, and all that.

19:19 So this quarter is generally weak,

19:22 but this time, this has been extraordinary,

19:26 and we are happy with the performance.

19:30 Understood.

19:31 And so largely what we are seeing is a 12% odd margin.

19:36 So do you therefore believe that from here,

19:39 you're going to go higher?

19:40 Is there scope to expand this further,

19:43 or 12% is where you're happy with?

19:47 No, margins are-- actually, if you look to the industry

19:53 norms, we are doing slightly better than the industry norms.

19:58 So as far as margins are concerned,

20:00 I don't think because of the pressure on the raw material

20:04 and packing material, I don't think.

20:05 But important is the market share,

20:08 and important is turnover.

20:10 The market share has been increasing, and the growth--

20:15 again, the normal growth of the 8% to 9% of the industry,

20:18 our growth for this quarter is about 77%,

20:22 which is phenomenal.

20:25 In the first quarter, normally, April, May, June

20:27 is the seasonal, where the highest growth is there.

20:31 But we had the 51%, 52% growth.

20:34 Same was in the second quarter.

20:37 But this quarter is about 77%.

20:41 And profit before tax is more than 100%.

20:45 So margins are good, but market share and the turnover

20:51 will have the same pace for at least minimum three, four

20:55 years, five years in the coming time.

20:59 Sure, understood.

20:59 And let me try and understand how

21:02 trends are playing out in the industry as a whole

21:05 while you're speaking about that piece.

21:07 So premiumization seems to be a trend which

21:11 is playing out in your space.

21:14 How are you trying to tap into it?

21:15 What are the plans here for SOM?

21:19 You see, now, actually, trend is different.

21:25 When we were in the college, we used

21:27 to look into the beer, which is 1 rupee, 2 rupees cheaper.

21:32 But now the young generation has got a lot of disposable income

21:36 with them, and they don't mind trying the new brands

21:40 with the premium brands and paying 40 rupees bottle extra.

21:46 They don't mind, but they want to have

21:49 it something new, something fun, something different.

21:53 So having this trend in view, we are

21:56 introducing a fantastic beer called

22:00 Woodpecker beer in the state of Karnataka,

22:03 which is higher than the Budweiser beer, which

22:06 is the leader in the market.

22:08 Our beer is going to be 10 rupees bottle expensive

22:13 than the Budweiser beer because of its extraordinary packaging.

22:18 First time in India, we are introducing the Twistcap.

22:23 This normally you have seen the either you open it

22:27 with the opener or you open it with the ring pull cap.

22:32 But this is the first time when you can open it like Twistcap.

22:41 First time we are introducing.

22:42 And it's a very, very premium packaging.

22:45 And we had already launched a five liter party

22:49 keg in the state of Karnataka, which

22:52 has been accepted beautifully in the state, doing pretty well.

22:58 So now next month, we are launching this Woodpecker

23:03 premium beer, which is the also first filtered

23:08 wheat beer as well.

23:10 So with a lot of USPs, we are coming with the premium beer

23:15 market, and we are entering into the top layer of the business.

23:22 Understood.

23:24 You've guided for a revenue of 10,000 crore by 2028.

23:30 Talk to us about the journey for that.

23:32 That's point number one.

23:33 And quickly, I just need to cover the other beers as well.

23:36 With regard to the IT search, anything

23:39 that's come out of the search that you feel

23:43 or which has been communicated to some?

23:47 No, no, we have got all the notices.

23:49 And it doesn't say anything much about this thing.

23:54 As regards our day to day things,

23:57 we do not believe in any kind of hanky-panky business.

24:01 And our business is quite a straight line business.

24:06 So till date, whatever notices, almost all the notices

24:12 have come, it doesn't say anything damaging in a big way.

24:17 Nothing.

24:18 So we are quite confident that nothing

24:25 will affect the company as far as notices are concerned.

24:29 A few explanations they have asked,

24:31 which we are comfortably replying.

24:34 So we are not-- as far as income tax searches,

24:36 nothing for us.

24:41 Few crores maybe in the tax here and there will go.

24:45 That is a routine thing.

24:46 So as it is, we are paying--

24:50 this year we are paying 40% more taxes than the previous year.

24:54 So taxes as it is, we are--

24:55 you see, I believe if you are to really grow in the business,

25:00 then you have to grow by paying the taxes only.

25:04 By paying-- if you pay more taxes, you are growing.

25:07 You are doing more good to you than the nation.

25:10 So especially when you are a listed company,

25:14 the tax payment is quite this thing.

25:21 I should tell you this thing, we are--

25:26 So we take your point.

25:27 So we take your point.

25:29 We completely take your point.

25:31 So no concerns from a tax perspective.

25:33 But sir, apologies, we are going to have to cut this short.

25:37 Thank you so much for speaking with us.

25:39 We will, of course, have a larger conversation

25:42 with how you take your revenue to 10,000 crore.

25:44 I'm looking forward to having you one more time

25:47 on our small and mid-cap show.

25:49 But I'm sorry, we're going to have to let you go.

25:52 Thank you so much.

25:53 We have the management of Nazara Tech.

25:56 They've raised 200-- or they are looking

25:58 to raise 250 crore rupees via QIP.

26:01 872 is the price that they've kept the QIP for.

26:05 We have Nitish Mitharsan, who is the CEO, founder,

26:08 as well as joint MD at Nazara Technologies.

26:10 Welcome to NDTV Profits, sir.

26:13 So Nitish, talk to us the objective of the fundraise.

26:17 Of course, you're still in acquisition mode.

26:19 Fully understand that.

26:21 But talk to us about where these funds are

26:24 going to get deployed directly.

26:26 Sure.

26:27 Just to clarify, it's a referential issue and not a QIP.

26:31 Oh, right.

26:31 Sorry.

26:32 So we had announced earlier in the year

26:36 that we are planning to raise up to INR 750 crores, of which

26:41 in September we had placed 510 crores to Nikhil Kamath

26:46 and to SPI Mutual Fund.

26:49 And now we've concluded this planned fundraise

26:52 by placing another 250 crores.

26:54 The good news is that we've got the subscription

26:57 from our existing market investors,

26:59 including again Nikhil Kamath, ICICI, Prudential Mutual Fund,

27:03 and Fruit as well.

27:05 So I think that gives us a lot of confidence

27:07 that our investors are really backing our strategy.

27:10 And we are very excited about it.

27:13 Cumulatively, now the company has a consolidated cash balance

27:16 of 1,500 crores.

27:17 We are a profitable cash flow generating company.

27:21 And therefore, much of the capital

27:23 will get deployed in new investments and acquisitions.

27:26 Nazara, as you know, has been pretty acquisitive in the past

27:30 as well, quite successful.

27:31 And we see many opportunities in the gaming space in India

27:34 as well as globally, where we can acquire businesses

27:37 and scale them.

27:38 So that's completely our plan as we move into FY25.

27:43 Understood.

27:43 But when I'm looking at your cash balances,

27:46 you have a decent cash balance as well.

27:48 You have a war chest, roughly 500 odd crore.

27:51 Please correct me if I'm wrong.

27:53 So is there some big acquisition planned?

27:56 Is that why this fundraise becomes important for you?

28:01 I don't see much debt.

28:02 So that should not be a concern.

28:05 So at the Nazara parent level, we

28:08 have, including this new fundraise,

28:10 we will have a little bit over 1,000 crores of cash.

28:13 In our subsidiaries, we have another additional 500 crores

28:17 of cash.

28:18 This puts us in a very strong position

28:20 because today, gaming companies globally

28:24 are available at good values for us.

28:26 And we do know how we can actually

28:29 acquire these businesses and scale them significantly

28:32 and profitably.

28:33 So I think we can really use the power of the cash

28:37 we are sitting on to uplift our own business

28:40 through these acquisitions.

28:41 And that's why we have gone and raised this cash.

28:43 We have a strong deal pipeline.

28:46 My team has worked pretty actively over the last year

28:48 to create a healthy pipeline.

28:50 And now we are doing our diligence

28:51 to make sure that the bets we take

28:53 pay off for us and our shareholders.

28:55 Right.

28:56 Any specific geographies, products

28:58 that you are targeting now to add to your suite?

29:01 So for us, India remains a core strategic market.

29:04 And the US is also an important market for us.

29:07 So I think we will either do India-focused acquisitions

29:11 or businesses that are focusing on US as a market.

29:18 We are looking at many game studios which

29:20 have their own gaming IPs, the e-sports space,

29:23 and the ad tech space for playing.

29:27 Sure.

29:28 I get your point.

29:30 Unfortunately, we are totally out of time, Mr. Mithasen.

29:33 So I'll have to wrap this conversation here.

29:35 But it's been a pleasure speaking,

29:37 understanding with regard to the larger, broader fund

29:41 raise strategy, what's happening,

29:43 as well as with the cash balances, what is happening.

29:46 Thank you so much for this quick chat.

29:48 But with that, we're completely out of time on this edition

29:50 of the Small and Mid-Cap Show.

29:52 Thanks so much for watching.

29:53 Stay tuned to NDTV Profit.

29:55 More on the other side, of course.

29:57 [MUSIC PLAYING]

30:01 [MUSIC PLAYING]

30:04 [MUSIC PLAYING]

30:08 [MUSIC PLAYING]

30:12 [MUSIC PLAYING]

30:15 [MUSIC PLAYING]

30:19 (upbeat music)

PSP Projects And Som Distilleries In Focus | The SMID Show | NDTV Profit

Category

Transcript

Recommended