Rs 8,395 crore order book: This civil construction company receives order worth Rs 1,535 crore from NTPC Renewable Energy Ltd!

The company have a market cap of Rs 6,850 crore and including the above order, the company’s total order book stands at Rs 8,395 crore.

Sterling and Wilson Renewable Energy Limited (SWRE) (BSE Scrip Code: 542760; NSE Symbol: SWSOLAR), announced that it has received the Notification of Award for the EPC project of 300 MWac of NTPC Renewable Energy Limited (NTPC REL) at Khavda RE Power Park, Rann of Kutch, Gujarat. The total contract price, including O&M for 3 years, would be Rs 1,535 crore (inclusive of taxes).

This is the third order for SWRE from NTPC REL in just over a year. This 300 MWac project is synergistically located between the first two projects won. The formal contract signing is likely to happen in due course.

Mr Amit Jain, Global CEO of Sterling and Wilson Renewable Energy Group said, “We are delighted to win and partner again with NTPC Renewable Energy. The continued partnership further demonstrates the trust and leadership of SWRE’s project management capabilities and global expertise. The new order win of 300 MWac complements our existing portfolio of ~2.47 GWac currently under execution for NTPC REL in Khavda and helps us leverage the low module price environment globally.”

He added “With this order, our year-to-date order booking stands at ~ INR 3,100 crore. The domestic order pipeline continues to remain strong and we’re confident of surpassing the FY 2023 order booking in this financial year. Over the past decade, we have been a dominant player in the domestic market and are poised to deliver high-quality renewable solutions that drive sustainability and make a positive impact on the world and look forward to spearheading the journey with continuous growth and innovation”.

On Friday, shares of SWRE surged 3.54 per cent to Rs 361.05 per share with an intraday high of Rs 366.10 and an intraday low of Rs 338. The stock is up by 25 per cent in 3 months and 35 per cent year to date. The company have a market cap of Rs 6,850 crore and including the above order, the company’s total order book stands at Rs 8,395 crore. Investors should keep an eye on this mid-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.