The infrastructure company’s shares surged by 5 percent to ₹121.55 per share after securing a ₹412 crore order from the railways.
On Tuesday at 1:28 p.m., shares of RPP Infra Projects Ltd surged to Rs 121.55 per share, hitting the upper circuit from the previous closing price on the National Stock Exchange. The company’s market capitalization stands at ₹ 440 crores.
The company’s exchange filing states that a joint venture between RPP Infra Projects Ltd and V. Sathyamoorthy & Company has received a letter of acceptance for a new project. The joint venture will undertake the major upgrade of Raipur Railway Station of SECR on an Engineering, Procurement, and Construction (EPC) model, with a project value of ₹412.81 crores (including GST).
The JV’s ownership structure is 60% for RPP Infra Projects Ltd and 40% for V. Sathyamoorthy & Company. Additionally, the company has been awarded more contracts during the year, resulting in a strong work order portfolio of ₹ 3,256.68 crores as of April 23, 2024.
RPP Infra Projects Limited, incorporated in 1995, is engaged in construction across multiple infrastructure verticals like roads, buildings, industrial structures, power, irrigation and waste management.
RPP Infra Projects has a significant presence in the Indian infrastructure sector, having executed more than 150 successful projects and demonstrated capabilities across various infrastructure segments.
The company’s Q3FY24 revenues rose by 33% year-on-year, reaching ₹326 crore compared to ₹246 crore in Q3FY23. Additionally, the net profit doubled, increasing from ₹8 crore to ₹16 crore.
RPP Infra Projects Ltd’s shares have gained 194 percent in the last 12 months. A shareholder investment of ₹ 1 lakh in the company would be worth ₹ 2.92 lakhs in a year.
Written by Omkar Chitnis
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