Salasar Techno Engineering gained 1.23% to Rs 628 after the company secured a project worth Rs 54.90 crore from ITI Bangalore for constructing telecom towers at various locations in India.
Towers will be of different heights from 30 M to 120 M and will be used for improving the defence forces communication network. This project is of national importance as these towers are part of Army Static Switched Communication Network i.e. ASCON phase 4 project which will provide a big boost to the operations capability of defence forces.The cost of the work allocated to Salasar is Rs 54.90 crore, which involves design, supply, construction and commissioning of towers across various army bases.
Speaking on this occasion, Shashank Agarwal, MD of Salasar Techno Engineering, said: "We are felicitous and proud to receive this project from ITI. We had participated in the tender floated by ITI a few months back and have won this work based on our past experience and capabilities and of course by offering the most competitive prices."
Salasar Techno Engineering is a provider of customized steel fabrication and infrastructure solutions in India. The company's consolidated net profit surged to Rs 11.59 crore in Q3 FY21 from Rs 2.16 crore in Q4 FY20. Net sales 72.68% YoY to Rs 174.36 crore during the quarter.
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