 "project financing, infrastructure financing")
Bondada Engineering stock price surged up to 5 per cent, locking at its upper circuit at Rs 2320.80 per share on the BSE in Thursday’s early deals. The surge in stock price came after the company received a letter of award (LoA) worth Rs 939.39 crore from NLC India on Wednesday.
The engineering, procurement, and construction (EPC) services firm disclosed in an exchange filing that NLC India has granted LoA, a work order for setting up a 600 megawatt grid connected solar power project including the operation and maintenance for three years at Khavda, Gujarat. The total amount for the solar power project is Rs 939,39,76,731. The project will be executed in 15 months from the date of LoA.
Bondada Engineering is an infrastructure firm specialising in EPC services, alongside operations and maintenance (O&M) solutions. The company caters to clients within the telecom and solar energy sectors across India.
In the fourth quarter of the fiscal year 2023-24 (Q4FY24), Bondada Engineering saw a strong surge in its profit after tax (PAT), which more than doubled to Rs 31.44 crore from Rs 14.87 crore recorded in Q4FY23. Concurrently, revenue from operations soared by 70.8 per cent year-on-year, reaching Rs 505 crore.
For the full financial year 2023-24 (FY24), Bondada Engineering reported a PAT of Rs 46.31 crore, rising from Rs 17.13 crore in FY23. Furthermore, revenue from operations more than doubled, surging to Rs 801 crore from Rs 371 crore in the previous fiscal year.
As of January 2024, Bondada Engineering boasts an order book exceeding Rs 1,600 crore, which is currently in progress and slated for execution within the next 12 to 24 months. Additionally, the group has secured L1 status for orders totaling more than Rs 1,500 crore, indicating that execution is anticipated to commence in the medium term.
