Rs 11,600 crore order book: Civil construction company emerges as lowest bidder (L1) for order worth Rs 1,989.90 crore from Brihanmumbai Municipal Corporation
The stock gave multibagger returns of 100 per cent returns in just 1 year whereas BSE Sensex Index is up by 29.4 per cent.
Welspun Enterprises Limited has been chosen as the lowest bidder (L1) by the Brihanmumbai Municipal Corporation (BMC) for a Design and Build (DB) contract to design and construct a Tertiary Treated Water Conveyance Tunnel from Dharavi WWTF to Ghatkopar WWTF. The contract involves designing and building an 8.48 km tunnel with a 3,500 mm bored diameter, which will be completed using a tunnel boring machine within 93 months. The order excluding GST, is approximately Rs 1,989.90 crore.
Welspun Enterprises Limited (WEL), formerly known as Welspun Projects Ltd., is a part of the USD 3 billion Welspun Group. The company operates in the infrastructure space with investments in oil & gas. In the infrastructure space, WEL is focused on the road and water sectors. While the company’s focus is on Hybrid Annuity Model (HAM) projects as a developer, it also takes up value accretive projects in the BOT-Toll and EPC space.
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The company has a market cap of over Rs 7,700 crore and as of June 2024, the company’s order book stands at Rs 11,600 crore. As of June 2024, Dilipkumar Lakhi and his son Chirag Dilipkumar Lakhi own a 6.06 per cent stake in the company. Additionally, FIIs increased their stake to 4.69 per cent in June 2024 compared to 4.55 per cent in March 2024.
The stock gave multibagger returns of 100 per cent returns in just 1 year whereas BSE Sensex Index is up by 29.4 per cent. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.