The announcement was made during trading hours today, 27 March 2012.
Meanwhile, the BSE Sensex was down 223.74 points, or 1.31%, to 17,276.52.
On BSE, 47,000 shares were traded in the counter as against an average daily volume of 68,680 shares in the past one quarter.
The stock hit a high of Rs 159.25 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 149 so far during the day. The stock had hit a 52-week low of Rs 94 on 30 December 2011.
The stock had outperformed the market over the past one month until 26 March 2012, rising 9.52% compared with the Sensex's 4.86% fall. The scrip had also outperformed the market in past one quarter, soaring 50.28% as against 6.78% rise in the Sensex.
The small-cap engineering company has an equity capital of Rs 15.04 crore. Face value per share is Re 1.
Sadbhav Engineering said that it emerged as a successful bidder for four laning 110.542 kilometres of Solapur-Bijapur section of National Highway (NH)-13.
The company said the estimated total cost for developing the said project stood at Rs 1220 crore. The project will be executed as build-operate-transfer (BOT) (Toll) basis on design, build, finance, operate and transfer (DBFOT) pattern. The concession period of the project is 20 years from appointed date.
Net profit of Sadbhav Engineering rose 58.11% to Rs 41.71 crore on 51.98% rise in net sales to Rs 723.74 crore in Q3 December 2011 over Q3 December 2010.
Sadbhav Engineering is a construction firm with focus on road, irrigation and mining projects.