 "Gayatri Projects bags Rs 3,318 crore road contracts from NHAI")
These include two orders pertaining to 4-laning of National Highway(NH)-233 on Ghaghra Bridge-Varanasi section in two stretches amounting to Rs 741 crore and Rs 785 crore respectively. Other two orders pertains to 4-laning of NH-56 under Sultanpur-Varanasi section in two stretches valued Rs 986 crore and Rs 806 crore respectively.
"We are delighted to have secured such substantial orders, which have significantly strengthened our existing order book. These contracts are also a testament to our project execution capabilities and prudent bidding strategy. Our efforts are now very much directed towards efficiently executing these projects and we are confident of delivering 20-30 per cent revenue growth in our construction business, over next 3-4 years," T V Sandeep Kumar Reddy, managing director of Gayatri Projects said in a statement.
Gayatri Projects is primarily into roads and irrigation construction activity and has an order book of over Rs 10,000 crore. The company has recently bagged Rs 675 crore order from the NHAI for 6-laning of Eastern Peripheral Express Way in Haryana and Uttar Pradesh.
Gayatri Infra Ventures Limited, the asset development arm of the company and its other entities are currently working on 7 operating and one under construction road projects, adding up to gross capital employed in excess of Rs 5,000 crore. The energy subsidiary, Gayatri Energy Ventures Limited is in the final stages of developing a 2,640 mw power project in partnership with SembCorp Industries, Singapore, according to the company.