Kalpataru Projects International Ltd. (KPIL) shares gained as much as 4 percent to hit a 52-week high on Monday after the company announced bagging new contracts worth Rs 2,217 crore.

Share Market Live

NSE

The orders have been won in India as well as the overseas market.

KPIL, in a filing, stated that the projects awarded included orders of Rs 1,993 crore in the transmission and distribution business in India and overseas markets. The buildings and factories business has received orders of Rs 224 crore in India.

The latest order win has taken the total project flows to Rs 10,616 crore in the current financial year so far, according to the company.

According to Manish Mohnot, MD & CEO, KPIL, the flagship T&D business has secured orders of around Rs 5,400 crore so far in the current financial year, which provides good visibility for growth going forward.

The company has an additional L1 position of about Rs 4,000 crore across Transmission & Distribution, Buildings & Factories and Water business, the company mentioned.

KPIL is engaged in Power Transmission & Distribution (T&D), Buildings and factories (B&F), Water Supply & Irrigation, Railways, Oil & Gas Pipelines, Urban Mobility (Flyovers & Metro Rail), Highways and Airports sectors.

The company is executing projects in over 30 countries and has a global footprint in over 70 countries.

Last month, KPIL announced that it has bagged orders worth Rs 1,016 crore. The T&D business had received orders of Rs 552 crore in India and overseas markets while the B&F business won orders of Rs 464 crores in India.

The stock is currently trading 3.7% higher at Rs 683.

(Edited by : Hormaz Fatakia)

First Published:Oct 16, 2023 11:21 AM IST