GPT Infra soars on bagging construction order worth Rs 270 crore

GPT Infraprojects zoomed 5.02% to Rs 57.50 after the company announced that it has bagged an order valued at Rs 270 crore from Bridge & Roof Company (India), a Kolkata-based Government of India enterprise.

The contract is for the construction of rail flyover between Allahabad - Bamhrauli comprising of earth work, pile foundation, composite steel girder, RCC deck slabs, ROB, utilities shifting and other allied works in connection with construction of RFO -2 (Phase -2) under North Central Railway (NCR) Prayagraj, Uttar Pradesh.

"Currently, the company has orders worth approximately Rs 2,471 crore in hand including cumulative order inflow of Rs 1,125 crore in the current financial year, GPT Infra said in a statement.

GPT Infraprojects is the flagship company of GPT Group and is a premier infrastructure company based out of Kolkata. The company operates through two business divisions infrastructure and sleepers. The company is engaged in the execution of civil and infrastructure projects, especially large bridges and ROBs for Railways. In sleepers, the company manufactures and supplies concrete sleeper for Railways in India and Africa.

The company's consolidated net profit jumped 78.1% to Rs 5.52 crore on 18.9% increase in sales to Rs 152.70 crore in Q2 FY23 over Q2 FY22.

On the BSE, 30,752 shares were traded in the counter so far compared with average daily volumes of 6,915 shares in the past two weeks. The stock has hit a high of Rs 59 and a low of Rs 53.8 so far during the day.

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