Sadbhav Engineering gains on emerging lowest bidder for Surat Metro Rail Project

Sadbhav Engineering Limited, a Gujarat-based construction company announced on Tuesday that it has been declared as the lowest bidder by Gujarat Metro Rail Corporation (GMRC) Limited for metro rail projects. 

The civil engineering company will construct an elevated viaduct of 11.6 km from Kadarshani Nal (Gujarat) to Dream City Dead End for Surat Metro Rail Project Phase-1.  The project is worth Rs 779.73 crore with a construction period of 30 months. 

Sadbhav Engineering mainly operates in three core businesses namely roads, mining and irrigation. On the revenue front, its transportation business contributes 93 per cent, mining contributes 4 per cent and irrigation contributes 3 per cent of the total revenue. 

As of September 30, 2020, it has a total order book of Rs 9,397.38 crore, of which, the transportation sector forms around 75.42 per cent. 

At around 2.02 pm today, its stock was trading 6.87 per cent higher at Rs 62.20 on BSE. The share has an intraday high of Rs 64.45 and an intraday low of Rs 55.15 on BSE.