Sadbhav Engineering bags Rs 263.64 cr project from BCCL

Sadbhav Engineering today said it has emerged as the lowest bidder (L1) for a project of Bharat Coking Coal Ltd, a subsidiary of Coal India, with the contract valued at Rs 263.64 crore.

"The company has been declared the successful bidder (L1) in respect of the bid invited by Bharat Coking Coal Ltd, Dhanbad for the following project/work for contract value of Rs 263.64 crore," Sadbhav said in a filing to the BSE.

It said the scope of work includes "hiring of heavy earth moving machinery (HEMM) for removal of over burden and extraction and transportation of coal with fire fighting from VIIC, VIIIA, VIII and VII seams of AKWM colliery of Katras Area and Tetulmari colliery of Sijua Area named as 'Mega Project' of Katras Area".

Total quantity for the removal of over burden (OB) is 235.02 LCM and extraction of coal is 39.90 LMT.

Sadbhav Engineering is engaged in infrastructure projects including construction of roads and highways, bridges, irrigation supporting infrastructure and mining.

During the April-June quarter, it had reported a net profit of Rs 16.13 crore and revenues of Rs 563.23 crore.

The company scrip closed at Rs 67.05 on the BSE, up 4.44% from the previous close.