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Kalpataru Projects soars 11% on winning new orders worth of Rs 3,244 crore

In the past one week, the stock of the civil construction company has surged 16 per cent

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Illustration: Binay Sinha

SI Reporter New Delhi

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Shares of Kalpataru Projects International (KPIL) soared 11 per cent to a new peak of Rs 729.55 on the BSE in Friday’s intra-day trade. This came on as the company with its Joint Ventures (JVs) and international subsidiaries secured new orders of Rs 3,244 crore.
The management said with these orders, year-to-date financial year 2023-24 (FY24) order inflows now stand at nearly Rs 17,685 crore, providing a robust foundation for a sustained future growth.

In the past one week, the stock of the civil construction company has surged 16 per cent.

The average trading volumes on the counter jumped multiple-fold today. A combined nearly 3.8 million equity shares of KPIL changed hands on the NSE and BSE till 10:41 AM.

KPIL in an exchange filing said, the orders in the Buildings & Factories (B&F) business including the company's largest ever design & build contract for construction of a large-size residential buildings project in South India is from a reputed developer. 

The order for design & construction of an underground metro rail project is signifying KPIL's foray into electric mobility business with TBM tunnelling scope. 

KPIL is one of the largest specialized engineering, procurement and construction (EPC) companies engaged in power transmission & distribution, buildings & factories, water supply & irrigation, railways, oil & gas pipelines, urban mobility (flyovers & metro rail), highways and airport.

Analysts at Prabhudas Lilladher maintain a ‘buy’ rating on KPIL with a target price of Rs 740 per share.

The brokerage in a Q2 result update said that they remain positive on KPIL in the long run owing to a strong order backlog, strong order pipeline, focus on geographical expansion for segments such as Water, Railways, Civil and increasing pre-qualification for large contracts. 

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First Published: Dec 29 2023 | 11:05 AM IST

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