 "A building under construction at the Navi Mumbai International Airport. Photographer: Dhiraj Singh/Bloomberg")
Ahluwalia Contracts hits record high: Shares of construction engineering company Ahluwalia Contracts were buzzing in trade as they zoomed as much as 17.87 per cent to hit a fresh record high of Rs 1,540 per share on Friday, July 05.
The rally in the stock price came after the company announced that it has secured an order worth Rs 572 crore from the Airport Authority of India (AAI).
In an exchange filing, Ahluwalia Contracts said that it will work towards the development of a new civil enclave at Darbhanga Airport in Bihar.
Under the terms of order, Ahluwalia Contracts will be responsible for construction of new terminal building, allied structure and external development works on engineering procurement and construction (EPC) model, it said.
The order, Ahluwalia Contracts said, needs to be completed in 24 months.
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Ahluwalia Contracts (India) Ltd began its journey in 1965 as an EPC company. It was formally incorporated on June 2, 1979, acquiring the operations of four construction partnership firms the following month. By September 1990, it transitioned into a Public Limited Company.
Specialising primarily in civil construction activities, Ahluwalia Contracts has expanded its scope to include developing and managing commercial complexes under licencing agreements, alongside engaging in real estate trading. It stands as one of India's foremost integrated construction firms.
The company boasts a diverse portfolio of high-profile projects spanning residential and commercial complexes, hotels, institutional buildings, hospitals, corporate offices, IT parks, industrial complexes, metro stations and depots, power plants, and automated car parking facilities, among others.
Financial performance
Ahluwalia Contracts’s revenue (topline) zoomed 35 per cent while its profit skyrocketed 177 per cent on a year-on-year basis in Q4FY24.
The operating income was zoomed 175 per cent quarterly while it jumped 170 per cent annually. The earnings per share (EPS) stood at Rs 8.21.
The market capitalisation of the company is Rs 9,931.24 crore, according to Bombay Stock Exchange (BSE). The 52-week low of the stock is Rs 649.40 per share.
At 10:59 AM, shares of Ahluwalia Contracts were trading 13.48 per cent higher at Rs 1,482.55 per share. In comparison, BSE Sensex was trading 0.35 per cent lower at 79.771.16 levels.
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