Bondada Engg stock price hits 5% upper circuit on securing Rs 317 cr-order

Bondada Engg stock hits upper circuit: Shares of Bondada Engineering were locked in the 5 per cent upper circuit at Rs 2625.55 per share in intraday deals on the Bombay Stock Exchange (BSE) on Friday.

The uptick in the stock price came after the company announced that it has secured an order worth Rs 316.83 crore on Thursday post-market hours. 

In an exchange filing, Bondada Engineering said, “We wish to inform the stock exchange that one of the Subsidiaries of the Company namely Bondada Managed Services Private Limited has received work orders from Reliance Projects & Property Management Services Limited.”

The total contract value is Rs 316,82,95,398, inclusive of Goods and Services Tax (GST), the company said in a statement.

Under the terms of the order, the company will mainly look at the operations and maintenance work of: TG Main SP O&M Contract Facility; TG Main SP O&M Contract Fiber FTTx; and TG Main SP O&M Contract Tower.

The yearly contract value is Rs 1,05,60,98,466 GST, the company said. 

Meanwhile, the periodicity of the contract, Bondada Engg said, is three years, and the contract period is from July 1, 2024 to June 30, 2027.

Founded in 2012, Bondada Engineering Limited specialises in providing comprehensive Engineering, Procurement, and Construction (EPC) services, as well as Operations and Maintenance (O&M) services primarily to the telecom and solar energy sectors.

Bondada Engineering is known for its expertise in passive telecom infrastructure, offering a range of services including the construction, erection, operation, and maintenance of telecom towers. They provide integrated solutions encompassing civil, electrical, and mechanical works, supply of poles and towers, laying and upkeep of optical fibre cables, and provision of power equipment to major telecom firms and tower operators in India. To date, the company has successfully installed over 11,600 telecom towers and poles, with 7,700 of these completed in the last three fiscal years.

Additionally, Bondada Engineering extends O&M services to telecom and tower operating companies. These services include preventive and corrective maintenance of passive infrastructure and equipment, backup power systems, manning services including supply of riggers, surveillance, and maintenance of optical fibre cable routes.

The manufacturing facility of Bondada Engineering is strategically located in Keesara Mandal, Medchal, Telangana, boasting an installation capacity of approximately 12 thousand Metric Tonnes Per Annum (MTPA) for tower fabrication.

Currently, Bondada Engineering employs a workforce of over 550 professionals dedicated to delivering high-quality services and solutions in the telecom and solar energy industries.

The company falls in the BSE IPO category and has a market capitalisation of Rs 5,671.73 crore.

At 9:32 AM, the shares continued to remain locked in the upper circuit. In comparison, BSE Sensex was trading 0.37 per cent higher at 80,190.51 levels.