Realty Stock owned by Ace Investor Vijay Kedia, which has diverse business activities and interests related to Hydro-mechanical equipment, turnkey solutions for steel fabrication, Hydropower developments, Real Estate, and many more received arbitration award for Rs. 45.59 Crores from NTPC.
In the day’s trade, the shares of OM Infra Limited hit a 2 percent lower circuit at Rs. 120.25 and its market capitalization is Rs. 1,160 Crores. It has delivered multi-bagger returns of 187 percent in a year.
Ace Investor Vijay Kedia owns a 2.56 percent stake in the company consisting of 24,65,912 equity shares through Kedia Securities Private Limited.
OM Infra Limited has received a payment of Rs. 45.59 Crores against the settlement of an Arbitration Award under the Vivaad se Viswas scheme of the Government of India for the hydro-mechanical works contract of Tapovan Vishnugad Hydroelectric power project in Uarakhand from NTPC Ltd.
Vivaad se Viswas scheme of the Government of India is a scheme to effectively settle the pending contractual disputes of government and government undertakings.
Quoting the aforesaid award Vikas Kothari, Managing Director of Om Infra Ltd said that this is a very positive and efficient step taken by the Government of India under incredible the leadership of our Honourable Prime Minister towards expeditious and proactive settlement of long pending contractual disputes and avoiding a protracted legal bale leading to financial losses to both the EPC contractors as well as avoiding enormous losses to the Government exchequer.
As of September 2023, it has a robust order book of Rs. 2,805 Crores. Its key products consist of Gates, Liners, Trash Racks, cleaning machines, all types of cranes, mechanical & hydraulic hoists, steel bridges & walkways, and ECAS& SCADA systems.
Its key services include Turnkey Solutions, maintenance, training, repair, and refurbishment works, and redesigning services. Its marquee clients are NTPC, NHPC, SJVN, The World Bank, and many more.
The company’s revenue from operations grew 155.31 percent from Rs. 313.03 Crores in FY22 to Rs. 799.21 Crores in FY23, accompanied by profits of Rs. 26.47 Crores to Rs. 12.87 Crores.
Written by: Bharath K.S
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