RPP Infra Projects Secures Rs 138 Crore Himachal Pradesh Project, Shares Soar 8%

18 Jul 2023 , 01:12 PM

RPP Infra Projects Limited shares surged 8 % to Rs 68 apiece on July 18, with 5 lakh shares traded on NSE.

The company’s joint venture with Hs Engineers Associates received a letter of acceptance for a new project in Himachal Pradesh valued at Rs 138 crore.

RPP Infra, with a 51 % holding, and its JV partner, with a 49 % holding, will jointly invest in and complete the project within the specified timeline, according to the exchange filing on July 17.

This project win is notable as it marks RPP Infra’s third order win in July, reflecting the company’s strength in securing and executing projects.

Earlier this month, RPP Infra Projects received a letter of acceptance for another project involving the construction of a three-lane additional flyover at Uthamasolapuram, along with a vehicular underpass on the Salem-Kumarapalaym section of NH-544 in Tamil Nadu, valued at Rs 106.65 crore on an EPC mode, set to be executed within 12 months.

The company also secured a contract for the beautification of Vandiyur Tank in Madurai City Municipal Corporation, valued at Rs 41.15 crore (Including GST), and received contracts from various town panchayats for water supply system improvements and providing house service connections, with a combined value of Rs 122 crore, including GST.

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