Bondada Engineering hit an upper circuit of 5% at Rs 3,684.45 after the company announced that it has received a contract worth Rs 575.74 crore to execute solar projects across various districts in Maharashtra.
The company said that it has received letter of award from Lumina Clean Energy, Purelight Energy, and VVKR Photovoltaics Energy for a 170.40 MW power project.
The scope of the project entails design, survey, supply, installation, testing, and commissioning of grid-connected distributed solar power plants for solarization of selected agri feeders at substation level in Maharashtra State Electricity Distribution Company Ltd (MSEDCL) jurisdiction.
The contract also includes the installation of an associated 11 kV line to connect the plants with the concerned sub-stations and remote monitoring system (RMS) for the solar power plants.
The project fall under the Mukhyamantri Saur Krushi Vahini Yojana 2.0, part of the PM-KUSUM solar projects across various districts in Maharashtra and will have a combined capacity of 170.40 MW on a DC basis.
Bondada Engineering is a infrastructure company that provides engineering, procurement, and construction (EPC) services, as well as operations and maintenance (O&M) services to customers in the telecom and solar energy industries throughout India.
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The company reported a consolidated net profit of Rs 46.30 crore, steeply higher than Rs 17.13 crore in Q4 FY24 over Q4 FY23. Revenue from operations soared 116.07% to Rs 800.72 crore in Q4 FY24 as compared to Rs 370.58 crore in Q4 FY23.
The counter hit an all-time high of Rs 3,684.45 in todays intraday session.
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