Synopsis:
Vishnusurya Projects and Infra, with partners JWIL Infra and IDE Technologies, has bagged a Rs. 2,217 crore contract from SIPCOT to develop a 60 MLD seawater desalination plant at Mullakadu, Tuticorin, on a Hybrid Annuity Model, with 30 months for construction and 15 years of O&M.
The shares of this leading infrastructure player are in focus after the company secured a massive project along with its consortium. In this article, we will dive more into the details.
With a market capitalization of Rs 443 crore, the shares of Vishnusurya Projects and Infra Ltd made a day high of Rs 195.20 per share, up by 16 percent from its previous day closing price of Rs 167.65 per share. In the last one year, the stock has corrected by over 48 percent.
Vishnusurya Projects and Infra, through a stock exchange filing, announced that it, along with its partners JWIL Infra Ltd and IDE Technologies India Pvt. Ltd has landed a prestigious contract from the State Industries Promotion Corporation of Tamil Nadu (SIPCOT). This project is all about developing a 60 MLD seawater desalination plant in Mullakadu village, located in the Tuticorin district of Tamil Nadu.
The project will be carried out using a Hybrid Annuity Model (HAM) as part of a Public-Private Partnership (PPP). The total contract value is estimated to be around Rs. 2,217 Crores, which includes all taxes and charges. Here’s a quick breakdown of the timeline:
- 6 months to complete pre-construction conditions,
- 30 months for the actual construction,
- 15 years dedicated to Operation & Maintenance (O&M), followed by a transfer.
This impressive achievement not only boosts Vishnusurya’s footprint in large-scale infrastructure projects but also highlights their expanding expertise in the water management and desalination field.
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Financial Highlights
The company delivered a revenue of Rs 271 crore in FY25, up by 17 percent from its FY24 revenue of Rs 231 crore. Additionally, its net profit grew by a minor 4 percent to Rs 29 crore in FY25 as compared to Rs 28 crore in FY24.
The stock delivered a ROE and ROCE of 20.23 percent and 24 percent respectively, and is currently trading at a low P/E of 15.13x as compared to its industry P/E of 42.67x.
Vishnusurya Projects and Infra Ltd is a company based in India that specializes in mining rough stones, making aggregates, and producing M-Sand through their crushing and sand washing plants.
They’re involved in various sectors, including construction, mining, and technical consultancy, and they also provide integrated drone solutions for tasks like surveillance, mapping, and surveying.
The company takes on real estate and infrastructure projects, which range from villas and apartments to site formation, renovation, and government contracts, mainly in Tamil Nadu.
Written by Satyajeet Mukherjee
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