Ahluwalia Contracts bags orders worth Rs. 168 crore; stock surges

Ahluwalia Contracts India Limited has secured new order worth Rs. 168 crore for construction of modern flower market, agent shops, cold storage facility including water supply, electrical, plumbing and firefighting services and other works at IFC Gazipur.

As on June 30, 2019, the total order inflow for the company for FY20 stood at Rs. 430.23 crores. The company’s management expects order inflow of Rs. 2,000 crore in FY20.

Last month, the company had secured new orders aggregating to Rs. 262.23 crore for construction of institutional, commercial including electrical, plumbing and firefighting services.

Looking at its FY19 numbers, the revenue had jumped by 6 per cent to Rs. 1,752.18 crore while EBITDA was down by 1 per cent to Rs. 216.23 crore. Further, the company had reported net profit of Rs. 117.2 crore, up 2 per cent yoy.

Ahluwalia Contracts is an integrated construction company which has over five decades of experience in executing projects across residential and commercial complexes, luxury hotels and buildings, hospital and medical colleges among others.

On Wednesday, the stock of Ahluwalia Contracts opened at Rs. 287.80 per share. During the morning trading session, it was up by 3.2 per cent at Rs. 291.15.