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GPT Infraprojects’ shares gained nearly 6 percent in intraday trade on Monday after the company announced winning an order worth two-thirds of its market capitalisation. The flagship company of the GPT Group has bagged a contract worth Rs 216 crore from the Maharashtra Rail Infrastructure Development Corporation Ltd., Mumbai.

As per the terms of the contract, GPT Infraprojects will have to construct the proposed extensions of the Ghatkopar Cable Stayed Road Over Bridge (between EP/19/156 and EP/20/1).

The aforementioned proposed extensions will connect the LBS Road Junction and Eastern Expressway Junction in Mumbai.

The current market capitalisation of GPT Infraprojects stands at nearly Rs 323 crore. This means the said order win of Rs 216 crore is worth two-thirds of the company’s market valuation.

In December 2022, GPT Infraprojects announced that its Ghana-based subsidiary, RMS GPT Ghana Ltd. had won an order worth Rs 123 crore in the West African country.

In the September quarter, the Kolkata-based company’s consolidated net profit jumped 78.24 percent to Rs 5.52 crore from Rs 3.1 crore in the year-ago quarter, and EBITDA increased 20.39 percent to Rs 20.55 crore on a YoY basis.

GPT Infraprojects Ltd. is a premier infrastructure company, engaged in the execution of civil and infrastructure projects, especially large bridges and rail over bridges for Railways.

Shares of GPT Infraprojects ended nearly 6 percent higher at Rs 56.15 on Monday.

(Edited by : Rukmani Krishna)