While higher depreciation (39%YoY) and interest cost (31% YoY) because of Ind AS 116 and a higher tax rate of 22% (vs3% in Q1FY19) slid earnings growth by 51% YoY. DBL received appointed date for ten HAM projects and expects to receive the remaining two projects in coming months. Total OB remains strong at Rs19,029cr (2.2x TTM revenue) and expects an order inflow target of Rs120-150bn in FY20 due to a strong pipeline of Rs600bn in road segments....