Published 09:38 IST, December 29th 2023
Kalpataru Projects International surges 10% following Rs 3,244 crore-order win
As of 9:29 am, the company's shares were trading 7.89 per cent higher at Rs 710.70 per share.
Shares of Kalpataru Projects International Ltd zoomed as much as 9.63 per cent to an intraday high of Rs 722.15 per share during early trade. The surge was fuelled by the company's announcement on Thursday that it has secured orders worth Rs 3,244 crore.
Notably, the stock’s 52-week high is Rs 723.50 per share.
In an exchange filing, the company said, “Kalpataru Projects International Limited (KPIL), one of the largest Engineering & Construction companies listed in India, along with its Joint Ventures (JVs) and international subsidiaries have secured new orders/notification of awards of Rs 3,244 crores.”
The orders encompassed the Buildings & Factories (B&F) business, with KPIL securing its largest-ever design and build contract for a residential buildings project in South India, covering an area of approximately 13 million square feet. Additionally, the company received an order for the design and construction of an underground metro rail project, marking its entry into the electric mobility business with a scope for TBM (Tunnel Boring Machine) tunnelling. Furthermore, orders in the Transmission & Distribution (T&D) business were secured from overseas markets.
“We are delighted to announce strategic order wins across diverse businesses. Our foray into underground metro rail tunnelling project reaffirms our commitment to sustainable urban infrastructure development. Our largest ever order win in our B&F business, on design & build basis, from a reputed developer for a large residential buildings project in South India further fortifies our position as a leading player in this space. The nature of these large order wins, involving engineering scope, reflect on our growing capabilities across diversified portfolio of business,” said Manish Mohnot, MD & CEO, KPIL.
“Our Year-to-Date FY24 order inflows now stand at approximately Rs 17,685 crores, providing a robust foundation for sustained future growth,” Mohnot added.
As of 9:29 am, the company's shares were trading 7.89 per cent higher at Rs 710.70 per share.
Updated 09:41 IST, December 29th 2023