Rs 11,600 crore order book: This multibagger civil construction company bags new order worth Rs 159.75 crore from Brihanmumbai Municipal Corporation

The stock gave multibagger returns of 120 per cent returns in just 1 year whereas BSE Sensex Index is up by 26 per cent.

Welspun Enterprises Limited announces that its subsidiary, Welspun Michigan Engineers Limited (WMEL), has been awarded a contract by the Brihanmumbai Municipal Corporation (BMC) to rehabilitate man-entry sewers in Mumbai using trenchless technology. The contract, valued at Rs. 159.75 Crore (excluding GST) involves the rehabilitation of 17 km of sewers with diameters ranging from 1000mm to 1800mm. The project is expected to be completed within 24 months, excluding the monsoon season, from the date of commencement.

Commenting on the achievement, Mr. Sandeep Garg, Managing Director of Welspun Enterprises said, “This order for the rehabilitation of sewers lines using trenchless technology marks our material subsidiary's biggest independent project under the rehabilitation segment. By revitalizing existing infrastructure, we are minimizing the societal cost, disruption and impact associated with conventional construction methods. Our initiative contributes to a more sustainable environment, ensuring infrastructure longevity and reusability for the next 50 years. This achievement marks a significant milestone in the continued growth and success of WMEL, and we are committed to the responsible and successful execution of this project.”

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.

The company has a market cap of over Rs 8,000 crore and as of June 2024, the company’s order book stands at Rs 11,600 crore. The stock gave multibagger returns of 120 per cent returns in just 1 year whereas BSE Sensex Index is up by 26 per cent. Investors should keep an eye on this small-cap stock.

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

Also Read: Rs 555.80 Crore Order Book & FIIs Bought 3,81,010 Shares: Heavy Buying In This Multibagger Cable Manufacturing Stock; Rockets Over 12 On August 26