Gayatri Projects rises 5 per cent on bagging new orders

Gayatri Projects Limited (GPL) has received four letters of awards (LoAs) for pipe drinking water schemes in the state of Uttar Pradesh, amounting to a total value of Rs 1,748 crore.   

GPL has received 4 LoAs for pipe drinking water schemes from Namami Gange and Rural Water Supply Department in Uttar Pradesh via a joint venture, in which the company’s share is 97.5 per cent, amounting to Rs 1,748 crore. All four orders are pertaining to the water division.  

The above LoAs supersede the earlier 3 (three) LoAs awarded to the company of a value of Rs 1,332 crore, which was intimated to the exchanges on December 10, 2020. These orders will help the company in making its order book more robust and also, increase its profitability.  

Gayatri Projects Ltd is a flagship company of the well-known and well-diversified Gayatri Group that works on projects in infrastructure, power, hospitality, real estate and industry. Established in the year 1963, it is now one of India's leading infrastructure companies with a rich and diverse experience & expertise in both construction as well as ownership of infrastructure assets.  

On Wednesday at 2.24 pm, the share price of the company was trading at Rs 43.45, an increase of 1.52 per cent over its previous close. Meanwhile, the share price reached a high of Rs 45 during the early market hours.