Two Pennar Industries' subsidiaries bag Rs 70-cr projects

Pennar Enviro Ltd and Pennar Engineered Building Systems, subsidiaries of Pennar Industries, have bagged new projects worth Rs 70 crore from various companies including construction of a 50-MW solar power plant for National Thermal Power Corporation.

The company has bagged an order for setting up a 50-MW solar power plant for NTPC in Singrauli, Madhya Pradesh, Pennar Enviro said in a BSE filing.

Similarly the company has bagged an order from JSW Dolvi and also received another order for commissioning of a demineralisation plant of 5.5MLD capactiy in Mangalore.

An order from Texspin Bearings for construction of a factory in Ahmedabad and another order from Frontier Sales, Guwahati and for construction of plant in Odisha for Saraf Agencies was also received, it said.

"We are confident that these subsidiaries will continue to increase orders in next few quarters..", Pennar Industries Chairman, Nrupendar Rao said.

Shares of the company were trading at Rs 23.35 apiece, up by 5.92 per cent over previous close in afternoon BSE.