Pratibha Industries bags contracts worth Rs 590 crore

Company's building division gets three orders - one from Delhi and two from Karnataka

Infrastructure developer Pratibha Industries today said its water management and building verticals have received orders worth Rs 589.69 crore. The biggest order, valued at Rs 224.80 crore, was from Gujarat Water Supply and Sewerage Board for construction of underground drainage system in some areas of Rajkot.

"The contract is scheduled to be completed in 18 months," Pratibha Industries said in a BSE filing. The building division of the company has got three orders - one from Delhi and two from Karnataka.

The New Delhi order, valued at Rs 117.92 crore, is for construction of a 200-bed hospital at Ambedkar Nagar from National Building Construction Corporation.

It has also got a Rs 171.43-crore order from Bhartiya City Developers for construction of residential homes in Bengaluru. The project would be completed in 28 months. The second order in the southern city is from R J Group for doing civil and structural works for a residential project. The job would be completed in 21 months.

Shares of the company were trading at Rs 30.65 apiece, up 13.10 per cent, during the afternoon trade on BSE.