RPP Infra Projects surged 9.88% to Rs 45.05 after the company received new orders aggregating to Rs 183.59 crore for construction of integrated storm water drain works in M1 and M2 components in Kovalam basin in Chennai.
The first order stood at Rs 59.92 crore for construction work in Kovalam basin in expanded areas in Greater Chennai Corporation Package 8 covering various streets of zone 14.
Subsequently, the same set of contracts has been received by the company in Kovalam Basin in expanded areas in Greater Chennai Corporation Package 4 and Pakage 5 covering various streets of zone 12 and 14, for Rs 53.17 crore and Rs 70.50 crore, respectively.
The company said that all the aforementioned contracts are expected to be completed within 24 months from the appointed date.
RPP Infra Projects is engaged in infrastructure development such as roads, buildings, industrial structures, power and irrigation. The company's consolidated net profit soared 61.6% to Rs 7.61 crore on 9% increase in net sales to Rs 246.36 crore in Q3 FY23 over Q3 FY22.
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