Kalpataru Projects to offload entire stake in Vindhachal Expressway

9 Oct 2024 , 02:57 PM

On Wednesday, October 9, Kalpataru Projects sold its 100% stake in Vindhachal Motorway to Actis Atlantic Holdings Limited for ₹775 Crore.

The same is subject to the necessary permissions and compliance with the conditions preceding.

In July, the business set an aggressive order inflow target of ₹22,000 to ₹23,000 Crore for FY 2025.

The Director of Kalpataru Project International expressed confidence in meeting the target established for the fiscal year 2024-25. “We did well in the first quarter, with order inflows exceeding ₹7,000 Crore and an L1 position around ₹5,000 Crore. With this pace, we are optimistic in attaining our target of ₹22,000 to ₹23,000 Crore before the end of the year,” he said.

In the first quarter, the company reported a revenue of ₹4,587 Crore, representing an 8.2% rise over the previous quarter. However, margins dropped to 8.2%, and net profit decreased by 19% to ₹93 Crore.

Uplenchwar addressed these financial concerns, saying, “We have always projected a profit before tax (PBT) margin of 4.5% to 5%. For the first quarter, our solo PBT was 4.4%. Certain divisions, notably those that rely on government contracts, such as our water business, did not fulfil their income targets. However, we anticipate a boost in these sectors throughout the third and fourth quarters. We are confident that our full-year PBT guidance of 4.5% to 5% will be achieved.”

At around 2.52 PM, Kalpataru Projects was trading marginally lower at ₹1,322.35 per piece, against the previous close of ₹1,323.55 on NSE. The counter touched an intraday high and low of ₹1,364.30, and ₹1,320.20, respectively.

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