Kalpataru Projects shares gain as company bags Rs 2,774 crore orders

Shares of Kalpataru Projects International Ltd (KPIL) gained 2 per cent in Thursday's trade after the engineering & construction company said it along with its international subsidiaries bagged new orders worth Rs 2,774 crore.

The orders included an EPC project by Airports Authority of India (AAI) for extension of an airport, an order for designing and building of residential building in India and a transmission & distribution (T&D) business order in overseas markets.

The stock rose 2.08 per cent to hit a high of Rs 1,381.20 on BSE. With this, the stock is up 90 per cent in 2024 so far and 113 per cent in the past one year.

MD & CEO Manish Mohnot said: “We are pleased with the continuous ordering momentum especially in our Transmission & Distribution (T&D) and Buildings and Factories (B&F) business. The prestigious order from Airports Authority of India (AAI) will mark our entry in the growing domestic airport sector and further diversifies our clientele."

The orders in the T&D and B&F business have further enhanced Kalpataru Projects International's  market position and significantly strengthen our order book, thereby improving the growth visibility for these businesses going forward.

With the new order wins, year-to-date order intake stood at Rs 9,800 crore, Kalpataru Projects International said.

"We continue to focus on delivering sustainable growth and improved profitability going forward” Mohnot said. The Kalpataru Projects International MD said his company is focused on delivering sustainable growth and improved profitably.