The infrastructure industry drives economic development by building and maintaining essential public systems. It supports growth by enabling efficient movement of goods, services, and people, fostering progress and urbanization.
Three prominent infrastructure companies in the construction and engineering sector which saw their stocks surge by over 4% after winning major contracts in Maharashtra are:
Ashoka Buildcon Limited:
With a market capitalization of Rs. 7,154.23 crores, Ashoka Buildcon Limited rose to an intraday high of Rs. 262.00 representing a 4.16 percent increase from its previous closing price of Rs. 251.52 per share.
As per exchange filings, Ashoka Buildcon Limited has won a contract from Brihanmumbai Municipal Corporation for a consideration of Rs. 1,126.58 crores. The contract involves the construction of flyover arms 1 and 2 at the T-Junction on the Sion-Panvel Highway near Maharashtra Nagar in the M/E Ward. The project is to be executed within 30 months.
In terms of financial performance for Q1FY25, the company reported a net profit increase of 119.48 percent to Rs. 157.93 crores compared to Rs. 71.98 crores in Q1FY24, while revenue from operations also marked an increase of 27.39% to Rs. 2,465.39 crores from Rs. 1,935.16 crores in comparison to the same period.
GR Infraprojects Limited:
With a market capitalization of Rs. 15,879.24 crores, GR Infraprojects Limited rose to an intraday high of Rs. 1,705.20 representing a 5.3 percent increase from its previous closing price of Rs. 1,619.10 per share.
As per exchange filings, GR Infraprojects Limited has won a contract from Maharashtra State Road Development Corporation Limited for a consideration of Rs. 1,885.63 crores. The contract involves the construction of the access controlled Pune Ring Road in Pune District, Package PRR W5, from Village
Kalyan/Rathwade to Village Shivare/Kusgaon Phase covering a total length of 9.341 km. The project is located in Talukas Haveli and Bhor, Maharashtra, and will be executed in an EPC mode.
In terms of financial performance for Q1FY25, the company reported a net profit decrease of 49.62 percent to Rs. 156.08 crores compared to Rs. 309.84 crores in Q1FY24, while revenue from operations also marked a decrease of 18.07% to Rs. 2,030.3 crores from Rs. 2,478.23 crores in comparison to the same period.
PNC Infratech Limited:
With a market capitalization of Rs. 11,940.62 crores, PNC Infratech Limited rose to an intraday high of Rs. 469.65 representing a 5.24 percent increase from its previous closing price of Rs. 446.25 per share.
As per exchange filings, PNC Infratech Limited has won two contracts totaling Rs. 4,630 crores from Maharashtra State Road Development Corporation on EPC mode.
The contract involves the construction of access-controlled Pune Ring Road in Pune District Package PRR E2 from Indori To Chimbali with a Length of 13.800 Km. The project is located in Talukas Mawal & Khed, Maharashtra, for a consideration of Rs. 2,268 crores.
Another contract involves the construction of an access controlled Expressway connector to the Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg, from Jalna to Nanded, for Package JNE-04 spanning from Kumbhari, Taluka Jintur, to Katneshwar, District Parbhani, covering a length of 28.895 km. The contract is valued at Rs. 2,362 crores.
In terms of financial performance for Q1FY25, the company reported a net profit increase of 218.44 percent to Rs. 575.17 crores compared to Rs. 180.62 crores in Q1FY24, while revenue from operations also marked an increase of 3.62 % to Rs. 2,167.51 crores from Rs. 2,091.7 crores in comparison to the same period.
Written By: Joseph Pv
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