Ahluwalia Contracts shares surge 7% on Rs 1,307 crore order win 

Shares of Ahluwalia Contracts (India) Ltd climbed 7 per cent in Tuesday’s trade after the company bagged two orders worth Rs 1,307.00 crore. The first order is from Signatureglobal Business Park for civil structure, part MEP and finishing works for all towers and basements and all other ancillary buildings at Project De-luxe DXP, Gurugram. The consideration for this order is Rs 1,144 crore and the contract will be executed over the next 48 months.

The second order is from Signatureglobal Homes for the Iconic Tower, Gurugram. The Rs 163 crore project will be executed over the next 48 months.

Following the development, Ahluwalia Contracts shares climbed 6.78 per cent to Rs 1,280 on BSE. With this, the stock has rallied 61 per cent in 2024 so far and 76 per cent in the past one year.

Ahluwalia Contracts reported higher-than-expected revenue in the June quarter, but its overall performance missed expectations due to lower margins during the quarter.

In FY24, Ahluwalia Contracts won Rs 6,540 crore orders against Rs 5,100 crore in FY23). In the June quarter, the company won Rs 2,730 crore worth orders, taking the order book to Rs 13,100 crore. In the September quarter, Ahluwalia Contracts recently won an additional Rs 2,050 crore orders worth, taking the unexecuted order book (without adjusting for execution during Q2FY25) to Rs 15,000 crore. This excludes the fresh orders.