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Shares of Ahluwalia Contracts (India) Ltd. surged over four percent on Monday after the company announced that it bagged a new construction order worth over Rs 120 crore.

The order is from the Assam Government for the construction of the Lachit Moidam Memorial and Cultural Complex at Lahdoigarh at Jorhat, Assam.

With this, the company’s order inflow during the current financial year reached Rs 3,765 crore, so far.

Last week, the company announced that it bagged new construction orders worth Rs 500.05 crore. The first project involved MMRDA (Mumbai Metropolitan Region Development Authority) work for the design, fabrication, supply, and erection of pre-engineering building structural steel works at Mandale Depot cum workshop for Rs 68.05 crore.

The second order pertained to the lighthouse major upgradation for Chandigarh Railway Station on the modular concept of engineering procurement and construction (EPC) mode for Rs 462 crore.

The company reported a 9.3 percent increase in net profit to Rs 39.10 crore in the quarter that ended September 2022 from Rs 35.77 crore in the year-ago period. However, revenue from operations dropped 10.8 percent to Rs 622.84 crore in Q2 FY23 from Rs 698 crore in the same quarter preceding fiscal.

Shares of Ahluwalia Contracts ended 2.3 percent higher at Rs 442.45.