GPT Infra hits on roof as arm wins order worth Rs 123-cr

GPT Infraprojects was locked in 20% upper circuit at Rs 53.20 after the company said that its subsidiary, RMS GPT Ghana has bagged an order valued at Rs 123 crore.

The order entails manufacture and supply of 130,000 sets standard gauge pre stressed railway concrete sleepers. The value of the contract is Euro 13.936 million which approximates to Rs 123 crore.

The company said that contract is in the name of the subsidiary in Ghana in which its share is 60% for which the subsidiary is setting up a factory in Ghana.

GPT Infraprojects is the flagship company of GPT Group and is a premier infrastructure company based out of Kolkata. The company operates through two business divisions infrastructure and sleepers. The company is engaged in the execution of civil and infrastructure projects, especially large bridges and ROBs for Railways. In sleepers, the company manufactures and supplies concrete sleeper for Railways in India and Africa.

The company's consolidated net profit jumped 78.1% to Rs 5.52 crore on 18.9% increase in sales to Rs 152.70 crore in Q2 FY23 over Q2 FY22.

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