Sadbhav Engineering appointed for EPC project, stock advances

The company has received appointment date from the National Highways Authority of India (NHAI) for an EPC project worth Rs. 981 crore in Uttar Pradesh. 

The project is for construction of an extension of 4-lane bypass for NH-24 starting from Behta Road and ending at Sitapur Road, in the state of Uttar Pradesh, on EPC mode. The bypass chainage is from 32.000/31.490 km to 64.900/64.380 km with an average length of 32.895 km under NHDP Phase- VII-Package 2. The project cost of as per contract agreement is Rs 981.00 crore and is to be completed is a period of 3 years. 

For Q2FY19, Sadbhav Engineering's revenue declined by 0.4 per cent YoY to Rs. 690 crore as compared to Rs. 693 crore in Q2FY18. EBITDA for the quarter increased by 5.8 per cent YoY to Rs. 83.32 crore as compared to Rs. 78.76 crore. Net profit increased 14.3 per cent YoY to Rs. 38.29 crore as compared to Rs. 33.49 crore in the corresponding quarter last year.

In the pre-opening session, the stock of Sadbhav Engineering opened at a high Rs. 207.95 per share, up by 4.68 per cent on Thursday. At 9:18 hours, the stock was quoting Rs. 203.50 per share, up by 2.44 per cent, on BSE. The benchmark index BSE Sensex was at 35,965.04, up by 185.97 points or 0.52  per cent, while Nifty50 was at 10,797.15, up by 59.55 points or 0.55 per cent.