Ahluwalia Contracts wins order worth Rs. 497 crore

Ahluwalia Contracts on Tuesday informed the bourses that it has bagged order worth Rs. 497.36 crore. Of this amount, Rs. 407 crore includes construction of Medical College (Civil Works) and rest includes other orders.

The company further informed that overall order inflow during the FY 2019-20 stands at Rs. 927.59 crore.

In the Q1FY20, Ahluwalia Contracts reported 9.10 per cent yoy growth in its net sales to Rs. 487.4 crore. Net profit for the quarter remained flat at Rs. 30.98 crore as compared to Rs. 31 crore in Q1FY19. PAT margin in the quarter was at 6.36 per cent.

The company’s current order book as on June 2019 ended quarter stood strong at around Rs. 6700 crore, giving strong revenue visibility for the next 3-4 years. The company’s management believes that it can deliver revenue growth of 15 per cent as stated earlier.

In today’s trading session the stock of Ahluwalia Contracts traded in positive terrain, whereas broader market was under selling pressure. The stock surged nearly 4.2 per cent to touch intra-day high of Rs. 324.85. The stock settled for the day at Rs. 321.50, up by 3.13 per cent from its previous close.