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Ahluwalia Contracts stock up 8% on Rs 893 cr-order win; rises 69% in 6 mths

The surge in share price came after the company announced that it has secured an order worth Rs 893.48 crore from Airport Authority of India (AAI)

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SI Reporter New Delhi

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Ahluwalia Contracts in focus: Shares of Ahluwalia Contracts jumped as much as 8.43 per cent to hit an intraday high of Rs 1539.85 per share on Thursday.

The surge in share price came after the company announced that it has secured an order worth Rs 893.48 crore from Airport Authority of India (AAI).

According to the order details, the company will be responsible for the development of Lal Bahadur International Airport in Varanasi. 

Ahluwalia Contracts will engage in the construction of a new terminal building, allied works on engineering procurement and construction (EPC) model, the company said in a statement.
 

The order, Ahluwalia Contracts said, needs to be completed in 36 months.

Established in 1965, Ahluwalia Contracts (India) Ltd began its journey 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 9,973.78 crore, according to Bombay Stock Exchange (BSE). The 52-week high of the stock is Rs 1,540 while its 52-week low is Rs 649.40 per share.

At 1:11 PM, shares of Ahluwalia Contracts were trading 4.79 per cent higher at Rs 1,488.05 per share. In comparison, BSE Sensex was trading 0.17 per cent lower at 79,788.96 levels.

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First Published: Jul 11 2024 | 1:20 PM IST

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