SRM Contractors added 1.60% to Rs 378.50 after the company announced the receipt of a letter of acceptance (LOA) from the National Highways Authority of India (NHAI) for a road construction project valued at Rs 105.96 crore.
The project involves long-term rectification work on NH 151 (Jetpur-Somnath) in Gujarat. This includes the construction of a vehicle underpass (VUP) at Sornath Junction, a flyover at Keshod Junction, a flyover and left underpass (LVUP) at Gadu Location and a service road at Santipara Patiya.
This project will be executed under the engineering, procurement, and construction (EPC) model.
SRM Contractors is an engineering construction and development company undertaking construction of roads (including bridges), tunnels, slope stabilisation works and other miscellaneous civil construction activities in hilly, challenging and difficult terrains and geography such as the Union Territories of Jammu & Kashmir and Ladakh. It executes construction both as an EPC contractor and on an item rate basis for infrastructure projects.
The company's consolidated net profit declined 19.64% to Rs 10.35 crore on a 11.70% fall in revenue to Rs 95.25 crore in Q2 FY25 as compared with Q2 FY24.
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