B R Goyal Infra gains on bagging Rs 11-cr work order

B R Goyal Infrastructure rose 1% to Rs 122.15 after the company announced that it had received a work order worth Rs 11.27 crore from Bhavnagar Municipal Corporation for the construction of a four-lane road.

According to an exchange filing, the company has been awarded the contract for the construction of a four-lane P.Q.C road. The project, which will span from Mantresh Complex, Ghogha Circle, Akwada Ward, to Ruva Ravechidham Ring Road in Bhavnagar, Gujarat.

The total accepted value of the work order is Rs 11,27,71,385 and the project is expected to be completed within 10 months.

B R Goyal Infrastructure is one of the leading companies specializing in the construction and development of infrastructure projects like roads, highways, bridges, and buildings. The company also helps to provide EPC services to third parties by offering them the construction of roads & highways, commercial complexes, industrial parks, housing projects, and HAM projects. The company is also engaged in wind power generation, manufacturing of ready-mix concrete (RMC), and toll collection contracts (TCC). As of 30 September 2024, the company had 402 permanent employees and 212 employees at TCCs.

The company recorded revenue from operations of Rs 155.50 crore and net profit of Rs 1.94 crore for the period as on 31 July 2024.

Shares of B R Goyal Infrastructure entered the stock exchanges on 14 January 2025. The stock was listed at 135.75, at a premium of 0.56% compared with the initial public offer (IPO) price. The stock was currently up 4.60% over its listing price.

B R Goyal Infrastructure's IPO was subscribed 109.91 times. The issue opened for bidding on 7 January 2025, and it closed on 9 January 2025. The price band of the IPO was set at Rs 128 to Rs 135 per share.

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