Synopsis:
Oval Projects Engineering Limited, a joint venture with Raviraj Bokadia Creative, has been awarded a third major contract from the Tripura Urban Planning and Development Authority worth Rs.58 crores for road improvement and the storm water drainage system.
The shares of the infrastructure services provider company rallied up to 5 percent after securing a contract worth Rs.58 crores from the Tripura Urban Planning and Development Authority.
With a market capitalization of Rs.162.27 crore, the shares of Oval Projects Engineering Limited were trading at Rs.78.13, up by 5 percent from the previous day’s closing price of Rs.74.41.
Contract
Oval Projects Engineering Limited, which holds a controlling 51 percent stake in a joint venture with Raviraj Bokadia Creative, 49 percent, has received a Letter of Award from the Tripura Urban Planning and Development Authority.
The contract, valued at Rs.58.25 crore, involves improving roads and storm water drainage systems in the towns of Khowai, Ranirbazar, and Mohanpur. The contract also shows the company’s third major project win, significantly strengthening its order book and reputation in delivering sustainable infrastructure projects across India.
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About the Company
Oval Projects Engineering Limited is an infrastructure company founded in 2013, specializing in engineering, procurement, and construction services as well as operations and maintenance services.
It builds and maintains infrastructure for the entire oil and gas sector, including pipelines, processing plants, and city gas networks. The company also handles urban civil projects and provides operational maintenance services.
In March 2025, revenue from operations stood at Rs.102 crore from Rs.78 crore in March 2024. The firm’s return on equity is 20.6 percent, and its return on capital employed is 22.2 percent. The price-to-earnings ratio of the firm is 17.59, and the industry average is 19.95.
Written by Jhanavi Sivakumar
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