Interarch Building gains on bagging order worth Rs 221 cr from Tata Projects

Interarch Building Products advanced 1.94% to Rs 1,585.65 after the company received two major projects worth Rs 221 crore from Tata Projects for the semiconductor and lithium-ion battery sectors.

The first order is for TATA Semiconductor Assembly & Testing for their semiconductor manufacturing facility in Jagiroad, Morigaon, Assam. This project is a key initiative in Indias growing semiconductor ecosystem, aligned with the governments vision to boost domestic electronics manufacturing.

The company bagged second project from Agratas Energy Storage Solutions, for the construction of a lithium-ion battery manufacturing unit in Sanand, Gujarat. The facility will cater to the rapidly growing energy storage market, supporting Indias transition to sustainable energy solutions. This is Interarch's second lithium-ion battery manufacturing order, after Exide Energy Solutions.

In both these projects, TATA Projects Limited is the EPC contractor, the company said in a regulatory filing.

Arvind Nanda, managing director of Interarch Building Products, said, We are proud to partner with Tata Projects Limited on these transformative initiatives. The semiconductor and energy storage sectors are pivotal to Indias economic and technological future. Our flexible and industry-agnostic infrastructure solutions ensure efficiency, reliability, and sustainability in every project we undertake. These collaborations further reflect our commitment to driving innovation and growth across new-age industries.

Interarch Building Products is a leading provider of pre-engineered steel building solutions in India. The company possesses integrated capabilities encompassing design and engineering, manufacturing, and on-site project management for the installation and erection of pre-engineered steel structures.

On standalone basis, net profit of Interarch Building Products rose 36.17% to Rs 20.67 crore, while net sales rose 8.55% to Rs 323.28 crore in Q2 September 2024 over Q2 September 2023.

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