Vishnu Prakash R Punglia Bags Rs 116.56 Crore Rail Project

17 Jan 2024 , 11:41 AM

Vishnu Prakash R Punglia Ltd shares witnessed a nearly 3% increase following the company’s announcement of securing a Rs 116.56 crore order from North Western Railway.

The Engineering, Procurement, and Construction (EPC) firm disclosed the acquisition of a Letter of Award (LoA) from the DRM Office of North Western Railway in Jodhpur, Rajasthan.

The order involves the construction of a 12-meter-wide Foot Over Bridge (FOB) at various stations, including Barmer, Degana, Merta Road, Balotra, Nokha, Ram Devra, Jalor, Sujangarh, Didwana, Nagaur, Gotan, Ren, Marwar Bhinmal, and Phalodi, spanning over Indian Railways (IR) tracks.

The project aims to establish end-to-end connectivity under the Amrit Bharat Station Scheme over Jodhpur Division.

In the preceding month, Vishnu Prakash R Punglia secured a Rs 899 crore order from the Uttarakhand government, focusing on improving water supply systems in the state.

For the quarter ending September 2023, the construction engineering firm reported a 23% year-on-year increase in net profit, reaching Rs 21.25 crore compared to Rs 17.27 crore in the corresponding period the previous year. Additionally, net sales showed a robust 21% YoY growth, rising to Rs 296.44 crore from Rs 245.72 crore in the same quarter a year ago.

At the time of writing, stocks were trading at Rs 215.40 which is a 0.81% dip than the previous close.

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