The shares of India’s largest civil construction company gained 2% to ₹827 per share after the company received a work order worth ₹180 crore.
At 12:05 p.m, Ahluwalia Contracts Ltd quoted at ₹820.30 per share, up 1.33 percent from the previous close price on the stock exchange. The company has a market capitalization of ₹ 5,493 crore.
According to the exchange filing, Ahluwalia Contracts received an order worth ₹180.00 crores for the construction and expansion of Max Smart Super Specialty Hospital in New Delhi. The time period for the completion of the order is 15 months.
The company is engaged in engineering and contract construction, for the development of infrastructures and buildings in India.
The company’s revenue has increased by 45 percent yearly, from ₹623 crore in Q2FY23 to ₹902 crore in Q2FY24. During the same period, Net profit has significantly increased by 41 percent from ₹39 crore to ₹55 crore.
Ahluwalia Contracts shares have gained 13% in the last six months and 69% percent in a year.
The company executes engineering, procurement, and construction (EPC) projects. The company caters its services to various clients in both the public and private sectors. The company, through its subsidiaries, has operations across various Indian states including West Bengal, Karnataka, and Maharashtra. ACIL is headquartered in New Delhi, India.
The Company has several clients across the hotel, institutional, and hospital segments like The Leela, Fortis, Hyatt, Amity, TATA, Apollo Hospitals and many more.
The company has set a target for revenue growth of more than 20% for FY24. In Terms of Capex company is targeting to incur ₹120 Cr for FY24, out of that ₹ 54 crore has already been spent during H1 FY24.
In FY23, the company received 99% revenue from the Indian market, and the remaining revenue from international markets.
Written by Omkar Chitnis
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
