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Ahluwalia Contracts
Realty firm Signature Global has given Rs 1,144 crore construction work order to Ahluwalia Contracts for development of its luxury housing project in Gurugram. The project, 'De-luxe DXP' is located in Sector 37D, Dwarka Expressway, Gurugram. Spread over 16.65 acres, the housing project has 1,008 units. The total developable area is 28.12 lakh square feet, Signature Global said in a statement on Sunday. Lalit Kumar Aggarwal, Vice Chairman of Signature Global (India) Ltd, said the company has started construction work in this project and collaborated with Ahluwalia Contracts to ensure timely delivery of the project with best amenities. Signature Global said it achieved a record pre-sale of over Rs 3,600 crore within a few days of pre-launch of this project. Ahluwalia Contracts aims to complete the project within 5 years. Signature Global has so far delivered 11 million square feet of area across various projects. It has a pipeline of 32.2 million square feet of saleable area in it
The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against construction firm Ahluwalia Contracts India Ltd for defaulting on payments to an operational creditor. The New Delhi-based NCLT bench allowed the insolvency plea filed by A2 Interiors Products Pvt Ltd against Ahluwalia Contracts, claiming default of Rs 14.10 crore, and appointed an interim resolution professional. Ahluwalia Contracts had engaged A2 Interiors Products for interior, furnishing and allied civil and electrical works at various project sites. It had supplied materials to Ahluwalia Contracts as part of various work orders issued for six projects at different locations in the country, according to the NCLT order. It had raised invoices against each work order, which were duly received by Ahluwalia Contracts, however, it failed to release the full payment. Later, in May 2019, A2 Interiors had issued a notice to Ahluwalia Contracts under the Insolvency & Bankruptcy Code (IBC) demanding Rs
Ahluwalia Contracts (India) Ltd on Monday said it has bagged contracts worth Rs 661 crore for construction as well as electrical works in the national capital and Haryana. In a regulatory filing, the company said it has secured new orders aggregating to Rs 129 crore for electrical works of medical college at Village Koriyawas distt Mohinder Garh (Haryana) from Haryana PWD, B&R. The company bagged another work order worth Rs 532 crore from Central Public Works Department (CPWD), New Delhi for construction related work on Engineering, Procurement, and Construction (EPC) basis at K G Marg and Africa Avenue, Near Sarojini Nagar Depot. The total order inflow of Ahluwalia Contracts (India) Ltd during FY20 stood at Rs 3,900.96 crore, the filing said. Shares of the company were trading at Rs 323.10 a piece on BSE, down 1.30 per cent from the previous close.