Ircon International said that its joint venture, Ircon-DRA has been awarded the Letter of award (LOA) from East Coast Railway for the construction of Kottavalasa-Koraput Doubling Project in Andhra Pradesh on EPC mode.
The said project includes construction of Kottavalasa-Koraput doubling project from Km. 45.483 to Km. 72.550 from Shivalingapuram Station to Borraguhalu Station in connection with Kottavalasa Koraput, Adhnra Padesh Doubling Project of Waltair Division, East Coast Railway on EPC mode.The said domestic order is worth Rs 1198.09 crore. It will be completed within 1260 days.
IRCON International is a public sector construction company, with emphasis on infrastructure projects, with specialization in execution of Railway projects on turnkey basis and otherwise. After commencing business as a railway construction company, it diversified progressively to roads, buildings, electrical substation and distribution, airport construction, commercial complexes, as well as metro rail works.
The company's consolidated net profit increased 28.76% to Rs 244.64 crore on 22.91% rise in revenue from operations to Rs 2,884.22 crore in Q3 FY24 over Q3 FY23.
The scrip jumped 2.96% to ends at Rs 250.80 on Friday, 26 April 2024.
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