Civil Construction Company Bags Massive Rs 1,307 crore Order, Order Book Surges to Rs 16,847 crore, Twice Its Market-Cap
The Civil Contracting Company Secures Two Group Housing Projects Worth Rs 1,307 crore
Ahluwalia Contracts (India) Limited informed in an exchange filing that it has secured two significant orders worth Rs 1,307 crore. The civil contracting company has been awarded two group housing projects from Signature Global Business Park Private Limited and Signature Global Homes Private Limited.
Of the two projects, the one from Signature Global Business Park, worth Rs 1,144 crore, is for its Project Deluxe DXP in Gurugram. The second project, worth Rs 163 crore, is from Signature Global Homes for its Iconic Tower, in Gurugram.
Both orders cover civil structure work, part of the MEP (mechanical, electrical and plumbing) components, finishing work for all towers & basements and other ancillary buildings at their respective sites. The completion period for both projects is set at 48 months.
Ahluwalia Contracts (India) is almost a debt-free company, with its sales and profit compounding at 25 per cent and 44 per cent CAGR (Compounded Annual Growth Rate) respectively, over the past three years. As of June 30, 2024, the company’s net order book stood at Rs 13,143.72 crore, expected to be executed over the next 2-3 years. Following the receipt of Rs 3,703.83 crore worth of orders, including today’s order, the company's current order book now exceeds Rs 16,847 crore. This robust order book provides revenue visibility for the coming years, ensuring sustained growth momentum.
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Friday, September 20, 2024, is the record date for the company's final dividend of Rs 0.50 per share for FY24. Shareholders holding shares on the record date will be eligible for the dividend.
Established in 1979, Ahluwalia Contracts (India) is a prominent civil contractor in the construction industry. While specializing in civil construction, the company has expanded its scope to include developing and managing commercial complexes under licensing agreements and engaging in real estate trading. The stock trades at Rs 1,197, with a market capitalisation of over Rs 8,018.75 crore. So far in 2024, the stock price has rallied more than 52 per cent on a year-to-date basis.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.