ITD Cementation spurts on bagging order worth Rs 4,850 cr

ITD Cementation India rose 4.73% to Rs 64.15 after the company announced that it has received letter of intent cum notice to proceed for a road project worth Rs 4,850 crore in Uttar Pradesh.

The civil construction company has secured letter of intent cum notice to proceed for execution of civil and associated works on EPC basis to construct six lane greenfield expressway in Uttar Pradesh aggregating at Rs 4,850 crore.

The firm said that this is the largest EPC order in company's history. The company added that it has achieved record orderbook of Rs 20,000 crore, which provides multi-year revenue visibility.

ITD Cementation India is an engineering and construction company, undertaking heavy civil, infrastructure and EPC businesses The company has established presence and expertise in marine structures, mass rapid transit systems, airports, hydro-electric power, tunnels, dams & irrigation, highways, bridges & flyovers, industrial buildings and structures, foundation & specialist engineering.

The company reported a 68.8% fall in consolidated net profit to Rs 16.38 crore on 19.3% surge in net sales to Rs 1,173.84 crore in Q4 FY22 over Q4 FY21.

Powered by Capital Market - Live News