On Friday’s trading session, the shares of an integrated construction company surged by 17.8 percent to hit a new 52-week high at Rs. 1,540, after the company secured an order from the Airports Authority of India valued at Rs. 572 crores.
At 10:51 a.m., the shares of Ahluwalia Contracts (India) Limited were trading in the green at Rs. 1,484.6, up by 13.6 percent, compared to its previous closing price of Rs. 1,306.45, with a market capitalization of Rs. 9,945 crore.
What’s the news:
Ahluwalia Contracts informed the stock exchanges regarding an order received by the company from the Airports Authority of India, valued at Rs. 572 crores (excluding GST).
The order is for the construction of the New Terminal Building, Allied Structure and External Development works on the Engineering, Procurement and Construction (EPC) Model.
As per the agreement, the development of the New Civil Enclave at Darbhanga Airport, Bihar, is to be executed in 24 months.
Previous Order:
On 10th June, Ahluwalia Contracts (India) Limited secured significant project orders worth a total of Rs. 482.78 crores.
The first order, valued at Rs. 383.98 crores, was from Birla Arnaa LLP, a joint venture between Birla Estate Private Ltd. and M S Ramaiah Reality (LLP).
This project involves civil, structural, and architectural work for the Birla Trimaya Phase 1 and 2 developments in Devanahalli, Bengaluru. The project is to be executed in two phases, with Phase 1 having a timeline of 31 months and Phase 2 spanning 39 months.
The second order, worth Rs. 98.8 crores, is from Indian Financial Technology and Allied Services.
This project entails the MEP (Mechanical, Electrical, and Plumbing) work for the Enterprises Computing and Cybersecurity Training Institute in Bhubaneshwar, Odisha, with a completion timeline of 15 months.
Financials & Shareholding Pattern:
In terms of financials, the revenue from operations stood at Rs. 1,163.6 crore in Q4 FY23-24, rising by 34.8 percent YoY from Rs. 863.05 crore in Q4 FY22-23, and the after-tax profit grew by 177.2 percent to Rs. 200 crore from Rs. 72.16 crore, during the same period.
The company’s Gross Order Book stood at Rs. 19,707 crore in FY23-24, increasing by 36.2 percent YoY from Rs. 14,465 crore in FY22-23, while the Unexecuted Order Book grew from 8,163 crore in FY22-23 to Rs. 11,180 crore in FY23-24, indicating a 37 percent growth.
According to the latest shareholding pattern, the Promoters hold a 55.32 percent stake in the company, Foreign Institutional Investors (FII) hold a 13.32 percent stake, while Retail Investors and Domestic Institutional Investors (DII) hold a 5.32 percent and 26.04 percent stake in Ahluwalia Contracts, respectively.
Stock Performance:
The stock has delivered nearly 120.6 percent of multibagger returns in one year, and around 89 percent of positive returns in the last six months. So far in 2024, the shares of Ahluwalia Contracts have given positive returns of about 89 percent.
About the company:
Founded in 1965, Ahluwalia Contracts (India) Limited is an Engineering, Procurement and 100% Construction (EPC) company engaged in the business of engineering and construction of large building infrastructure projects.
The company is also engaged in developing and operating commercial complexes under a license arrangement along with the real estate trading business.
Written by Shivani Singh
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