ITD Cementation bags orders worth Rs. 1,066 crore

Construction company, ITD Cementation India has bagged orders worth Rs. 1,066 crore from Airport Authority of India, Vizhinjam Port, Mumbai Metro and Rail Vikas Nigam.

These orders are for construction of new integrated passenger terminal building and associated facilities at Pune Airport, construction of breakwater for Vizhinjam Port, Improving Capacity Utilisation of OR-I & OR-II Berths for Visakhapatnam Port Trust, Ballastless track work in mainline for Line-7 Corridor (Andheri to Dahisar) and Construction of Adits and Tunnels in connection with the new single broad-gauge rail link between Rishikesh and Karanprayag.

Besides, in addition to these orders, the company has received orders worth Rs. 845 crore in September 2018. The company’s total order book as on June 30, 2018, was at Rs. 9,055.5 crore, which is executable over a period of 30 months. Recent order win and order backlog translates to a book-to-bill ratio of 4.6x which gives strong revenue visibility in the upcoming years.

Amid volatile and negative market sentiment, the stock of ITD Cementation opened positive at Rs. 114.8 apiece and at 12.00 hours, the stock was trading at Rs. 112.3 per share, up by 1.1 per cent on Tuesday.