MBL Infrastructures (MBL) exhibited strong execution capabilities in 3Q as revenue stood at Rs6.86bn (+27% yoy and +69% qoq) mainly on account of execution pickup from many of its projects post monsoon and revenue booking from new projects. However, operating profit grew moderately by ~9% yoy to Rs659mn and EBITDA margin stood at ~9.6% (-167bps yoy). An absence of margin booking from new projects led to margins decline. Notably, after seeing insipid order inflow till 1HFY16, MBL has succeeded in adding projects worth over Rs10bn till date in 2HFY16 and expects further addition of projects worth Rs20bn by the end of...