Gayatri Projects builds gains after order win

Gayatri Projects rose 1.82% to Rs 193.05 at 10:15 IST on BSE after the company received a letter of award for highway project in Telangana worth Rs 425 crore.

The announcement was made after market hours yesterday, 24 May 2018.

Meanwhile, the S&P BSE Sensex was up 163.06 points or 0.47% at 34,826.17.

On the BSE, 3,410 shares were traded on the counter so far as against the average daily volumes of 56,000 shares in the past two weeks. The stock had hit a high of Rs 193.95 and a low of Rs 192.35 so far during the day. The stock had hit a record high of Rs 229.57 on 2 January 2018 and a 52-week low of Rs 133.61 on 24 May 2017.

The mid-cap company has equity capital of Rs 37.44 crore. Face value per share is Rs 2.

Gayatri Projects said that the company has received a letter of award from the Ministry of Road Transport and Highways for part construction of six lane elevated corridor in Telangana. This project is in joint venture (JV) with OJSC 'SIBMOST', i.e Gayatri - OJSC 'SIBMOST' (JV). The project is for construction of six lane elevated corridor from Km 7.950 to Km 14.20 of NH-163 to de-congest the urban limits of Hyderabad-Bhopalpatnam section on EPC basis in Telangana for Rs 425 crore.

Gayatri Projects' net profit jumped 228.53% to Rs 46.52 crore on 73.66% rise in net sales to Rs 903.86 crore in Q3 December 2017 over Q3 December 2016.

Gayatri Projects in a Hyderabad-based infrastructure and construction company specializing in road, irrigation, power transmission and industrial projects with a pan India presence.

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