Rs 1,044.08 crore order book: Multibagger construction company bags new order worth Rs 59.36 crore from Summerwoods Developers India LLP
From its 52-week low of Rs 77 to Rs 175.55 per share, the stock gave multibagger returns of 128 per cent to its investors.
Chavda Infra Limited has secured construction orders valued at Rs 59.36 crore (excluding taxes) for residential buildings. The project, named "GREENFIELD-ADANI SHANTIGRAM," is being developed by Summerwoods Developers India LLP in Adani Shantigram, Ahmedabad, Gujarat. The scope of Chavda Infra's involvement includes reinforced concrete work, masonry, plastering, and other related construction activities. This residential project is expected to be completed within 24 months.
Earlier, the company received a significant contract valued at Rs 71.99 Crores (excluding taxes) to construct a commercial building named "ORCHID FINSBURY" in Shilaj, Ahmedabad, Gujarat. The project, awarded by Goyal and Company (Construction) Pvt Ltd., entails comprehensive construction activities encompassing reinforced concrete (R.C.C.) work, masonry, plastering, and other associated tasks. This residential project is slated for completion within 24 months and marks a substantial addition to Chavda Infra Limited's portfolio of ongoing construction endeavours.
Incorporated in 2012, Chavda Infra Limited provides construction and allied services across residential, commercial, and institutional projects in Gujarat. The company has a market cap of Rs 225 crore. According to annual results, the company reported amazing numbers wherein net sales increased by 47.27 per cent to Rs 162 crore and net profit increased by 140 per cent to Rs 12 crore in FY23 compared to FY22. Including the above orders, the company’s order book now stands at Rs 1,044.08 crore.
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On Wednesday, shares of Chavda Infra Ltd plunged 2.8 per cent to Rs 175.55 per share from its previous closing of Rs 180.80 with an intraday high of Rs 183.70 and an intraday low of Rs 175.10. The stock’s 52-week high is Rs 188.50 and its 52-week low is Rs 77.
The shares of the company are listed on the NSE as SME stock with a lot size of 2,000 shares. The stock has a PE of 30x, an ROE of 49 per cent and an ROCE of 28 per cent. From its 52-week low of Rs 77 to Rs 175.55 per share, the stock gave multibagger returns of 128 per cent to its investors.
Disclaimer: The article is for informational purposes only and not investment advice.
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