Ahluwalia Contracts secures order worth Rs 199.58 crore; stock hits 52-week high

14 Jul 2023 , 11:39 AM

Ahluwalia Contracts (India) Limited informed the investors and exchanges that it secured an order worth Rs 199.58 crore from the Indian Financial Technology and Allied Services (IFTAS) for civil works.

Following this development, the company’s counter surged to a new 52-week high of Rs 699.

At around 11.30 AM, Ahluwalia Contracts was trading 2.31% higher at Rs 681.20, against the previous close of Rs 665.85 on NSE.

The company has secured the order for carrying out civil structural, façade, and related external development works for Enterprise Computing and Cybersecurity Training Institute situated in Bhubaneshwar, Odisha.

The company expects to complete the order within a period of 20 months.

As of March 2023, the company’s unexecuted order book stood at Rs 8,162.7 crore. Order inflows aggregated to Rs 5,057 crore so far this year. Of the total orders, the orders from government sector accounted for 83.34% of the unexecuted orderbook.

Ahluwalia Contracts (India) has a diverse portfolio that includes commercial, infrastructure, institutional, residential, hospital, and hotel projects, with a large portion coming from the government and the remainder from the private sector.

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