A decade after suffering huge setback with irrigationNSE -8.19 % contracts in Andhra Pradesh, several infrastructureNSE -3.43 % firms — large, medium and small — are now staring at setbacks as at least Rs 50,000 crore worth of contracts with the YSR Congress government headed by YS Jagan Mohan Reddy deciding to cancel most of them.
After the death of Jagan’s father YS Rajasekhara Reddy (YSR), the then chief minister of Andhra Pradesh in 2009, several infrastructure firms had suffered losses as the large irrigation projects of YSR regime slowed down and some were even junked by subsequent governments.
