Gayatri Projects gets LOA worth Rs 1,332 crore; stock gains nearly 5 per cent

Gayatri Projects Limited, a flagship company of Gayatri Groups, announced on Thursday post trading session that it has received 3 letters of award (LOA) worth Rs 1,332 crore. Reacting to the news, its share on Friday opened 4.93 per cent higher on BSE.

The company received LOA for pipe drinking water schemes from Namami Gange & Rural Water Supply Department in the state of Uttar Pradesh. It is a joint venture wherein the company's share is 97.5 per cent, which amounts to Rs 1,332 crore.

The company’s EPC order book as of Q2FY21 stood at Rs 12,000 crore. Location-wise, the company earns 11.9 per cent from Maharashtra & Telangana each, 24.8 per cent from Uttar Pradesh, 14.9 per cent from Odisha, 10.9 per cent from Andhra Pradesh, 5.9 per cent from Bihar, 6.9 per cent from Jammu & Kashmir, 1 per cent from Nagaland & West Bengal each and the remaining 10.8 per cent from other geographies.

At 11.56 am today, its share was trading higher by 4.93 per cent at Rs 36.20. The share has a 52-week high of Rs 88 and a 52-week low of Rs 7.75 on BSE.