Ahluwalia Contracts surges 12% on order win worth Rs 150 crore

The company's total order inflow during the current financial year 2022-23 stands at Rs 863 crore

Shares of Ahluwalia Contracts (India) moved higher by 12 per cent to Rs 465.50 on the BSE in Tuesday's intra-day deals, in an otherwise weak market, after the company secured new order worth of Rs 150 crore from Ritnand Salved Education Foundation for construction work of Amity Campus Bengaluru.

With this, the company's total order inflow during the current financial year 2022-23 (FY23) stands at Rs 863 crore.

At 12:24 PM, the stock was trading 9 per cent higher at Rs 453.65, as compared to 0.70 per cent decline in the S&P BSE Sensex. It had hit a 52-week high of Rs 563.50 on April 11, 2022.

Last month, Ahluwalia Contracts had secured order worth approximately Rs 209 crore for construction of Adani Connex Data Centers at Noida (UP) from D C Development Noida Ltd.

The company had also secured new order aggregating to Rs 442 crore for construction of National Police Academy in Nepal under a joint venture (JV). The total work order for this project was Rs 630.95 crore and the company's share is Rs 442 crore for its 70 per cent share in the JV.

In FY22, the company had recorded 35.8 per cent growth in turnover at Rs 2,692 crore and Ebitda margin of 10.61 per cent. As on March 31, 2022, the company's net order book stood at Rs 5,870 crore, which is to be executed in the next 2 to 2.5 years.

For FY23, Ahluwalia Contracts has guided for 15 per cent top-line growth, while Ebitda margin should be in the region of 12 per cent to 13 per cent. The company have given a guidance of an order inflow of about Rs 2,500 crore to Rs 3,000 crore for FY23.