RPP Infra Projects was locked in upper circuit of 5% at Rs 186.60 after its joint venture (JV), Rpp Surendra received letter of acceptance (LoA) worth Rs 127.46 crore from Maharashtra State Infrastructure Development Corporation.
Rpp Surendra JV is a joint venture between RPP Infra Projects and Surendra Infrastructure.The project entails improvement to Poladpur Mahabaleshwar Wai Surur Road in the state of Maharastra, which is to be executed within two years.
The contract price for the project is Rs 127.46 crore, of which RPP Infras share is 51%.
RPP Infra Projects is engaged in infrastructure development such as roads, buildings, industrial structures, power and irrigation.
The companys consolidated net profit jumped 51.6% to Rs 15.83 crore on 40% increase in net sales to Rs 340.49 crore in Q1 FY25 over Q1 FY24.
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