ITD Cementation Wins ₹1,648 Crore Vadhvan Port Project

31 Dec 2024 , 09:30 PM

ITD Cementation India Ltd has secured a large ₹1,648 crore contract without GST for building greenfield Vadhvan Port at Dahanu in Maharashtra. This is a part of near-shore reclamation and shore protection work, which will perhaps make Vadhvan Port the largest deep-water port in India.

The port, developed by Vadhavan Port Project Limited, a joint venture between Jawaharlal Nehru Port Authority and Maharashtra Maritime Board, has helped Vadhvan Port gain the company to growth in financial performances. At ₹72 crore, ITD Cementation had posted its highest-ever year-on-year quarter Q2 FY25 net profit growth at 34.3% while ₹53.6 crore had posted the same period the previous year.

Revenue for the quarter stood at ₹1,991 crore, a growth of 23.6% year-on-year. EBITDA was at ₹181.7 crore, growing by 15% year-on-year. The operating margin stood at 9.1%. In the first half of FY25, the company was able to clock a 27% year-on-year growth in operating income, at ₹4,372 crore and 63% in net profit, at ₹172 crore.

ITD Cementation has focused intensely on infrastructure excellence to help contribute to growth in India while undertaking landmark projects like Vadhvan Port.