IVRCL soars on bagging Rs 4081 cr orders

IVRCL Group on Monday said it had bagged orders worth Rs 4,081 crore in buildings, transportation and thermal power plant segments.

IVRCL Assets and Holdings Ltd, a subsidiary of the IVRCL Group, won a Rs 1,617 crore project from the National Highway Authority of India (NHAI) for upgrading the four-lane divide carriageways into six-lane on the Gundugolanu-Rajamundry section in Andhra Pradesh, the company said in a regulatory filing.

[caption id="attachment_263572" align="alignleft" width="380" caption="With the receipt of these highway projects, the cumulative value of the assets stands at Rs.17,789 crore ($3.48 billion)."][/caption]

The project is to be constructed within 30 months from the appointed date.

The firm also won an order worth Rs.1,586 crore for four-laning the Patiala-Bhatinda section of National Highway 64 by the Punjab government. This project is to be constructed within 30 months.

With the receipt of these highway projects, the cumulative value of the assets stands at Rs.17,789 crore ($3.48 billion).

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The firm also forayed into the thermal power plant sector by bagging orders worth almost Rs.877.93 crore from the National Thermal Power Corp (NTPC).

Urja Nigam Pvt Ltd, a joint venture between NTPC and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd, has given the firm a contract of Rs.289.76 crore for civil and structural works of the main plant.

NTPC Solapur in Maharashtra has given it an order worth Rs.289.55 crore.

The third order worth Rs 298.62 crore has come from NTPC, Mouda, also in Maharashtra.

At the Bombay Stock Exchange, the shares of the company were 3.92 percent up to trade at Rs 68.85.

IANS