Our Company has more than two decades of experience in construction and development of water and irrigation projects. We undertook our first water and irrigation project in Fiscal 1996. Under the water and irrigation vertical, we undertakeconstruction of, canals, water supply projects and sewage drainage pipelines. Since inception, our Company has successfullycompleted various main and branch canal projects under this vertical for SSNNL and Madhya Pradesh NVDA. Since inception, company has successfully completed 28 projects under this vertical of which majority have been completed in a timely manner.
In India, ~142 million hectares was cultivated, as of Fiscal 2014, of which less than 50% was irrigated. Indian farmers are forced to keep an eye on the sky for a good crop, despite investments totaling ₹ 5,390 billion in the past 10 years and multiple schemes for irrigation.
CRISIL Research believes construction spend in irrigation will rise sharply to ₹ 4,242 billion till Fiscal 2022 compared with ₹ 2,448 billion over the past five years (Fiscals 2012 to 2017). As much as ₹ 72.8 billion was released in Fiscal 2016 and ₹ 77.7 billion in Fiscal 2017 under the Pradhan MantriKrishiSinchayeeYojana (PMKSY) scheme. A new micro-irrigation fund with a corpus of ₹ 50 billion is to be set up.