Ahluwalia Contracts gains on securing contracts worth Rs 483 cr

Ahluwalia Contracts (India) advanced 2.61% to Rs 1,199.95 after it received orders from Birla Arnaa LLP and Indian Financial Technology and Allied Services aggregating to Rs 482.78 crore.

The order bagged from Birla Arnaa LLP encompasses civil, structural and architectural work for project work, Birla Trimaya Phase-1, 2 at Devanahalli, Bengaluru. The Phase 1 of the contract is to be completed in 31 months and second phase to be executed within 39 months. The cost of the project is Rs 383.98 crore.

Further, the firm won another order from Indian Financial Technology and Allied Services which includes MEP work Enterprises Computing and Cybersecurity Training Institute at Bhubaneshwar. The time period for executing the project is 15 months. The cost of the project is Rs 98.80 crore.

Ahluwalia Contracts' project portfolio encompasses projects across residential and commercial complexes, hotels, institutional buildings, hospitals and corporate offices, information technology (IT) parks and industrial complexes.

The civil construction company reported a consolidated net profit of Rs 199.80 crore in Q4 FY24, steeply higher than Rs 72.16 crore posted in Q4 FY23. Revenue from operations jumped 34.83% year on year to Rs 1,163.66 crore in the quarter ended 31 March 2024.

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