BL Kashyap secures Rs. 460.53 crore orders

Civil engineering construction company B.L. Kashyap and Sons Limited received orders in Bengaluru and Trivandrum. Following the announcement, the stock was locked in its upper circuit in post lunch session on Monday.

The company reported total order inflow of approximately Rs. 460.53 crore in the first quarter. Most of the orders are expected to be completed in 24 months. The projects are secured from various unrelated domestic clients.

Scope of the projects involve concrete and structural package, built-up area of 8.80 lakh sqft for Rs. 78.71 crore in Bengaluru. Another two orders are for civil structure and finish work, built-up area of 8 lakh sqft for Rs. 47 crore and concrete and block work, Block 3 Parcel 2 (SEZ), built-up area of 14 lakh sqft for 166.82 crore in Bengaluru.

Another order is in Trivandrum for civil and finish work, built-up area of 16 lakh sqft for Rs. 168 crore.

On the financial front, in Q1FY20 the company registered standalone revenue of Rs. 17,449.26 lakh as against Rs. 15,376.80 lakh in the March quarter and Rs. 21,103.05 lakh in the year ago period. For the June quarter, the company posted loss of Rs. 2,423.12 lakh as against loss of Rs. 1,478.03 lakh in March quarter and profit of Rs. 689.70 in the year ago period.

On Monday, the stock of BL Kashyap and Sons opened at Rs. 9.25 per share and at 14:34 hours, the stock was at Rs. 9.74 per share, up by Rs. 4.96 per cent on BSE.