Generic Engineering wins order worth Rs. 299 crore

Mumbai based infra company, Generic Engineering Construction and Projects, informed on Wednesday that it has secured the orders worth Rs. 299 crore.

The company issued a press release in stock exchanges which stated the information regarding the orders which are from both, new and existing, reputed clients. The company won the order for its industrial building work which is worth Rs. 2.05 crore. The major order it won, which is worth Rs. 296.83 crore, is for residential building work. It must be noted that the residential segment contributes around 63 per cent to the total revenue of the company.

This new order will further strengthen the order book of the company. The total order book of the company, at the end of first quarter of FY20, stood at Rs. 777.5 crore which already gives long term revenue stability. Its FY19 revenue stood at Rs. 237.52 crore.

 Generic Engineering Construction and Projects is engaged in construction of residential, industrial, commercial and institutional buildings with larger presence in Navi Mumbai and Mumbai Metropolitan Region. It offers EPC and project management consultancy (PMC) services. It also holds one of the highest market shares in Navi Mumbai region, which is one the fastest growing regions in regards to the construction business.

On Wednesday, the stock of Generic Engineering closed at Rs. 72.15, which is 1.90 per cent lower than its previous close of Rs. 73.55 on BSE. The stock had opened at Rs. 75.00 and had made an intraday high of Rs. 81.00 and low of Rs. 72.00.