KEC Intl gains on bagging orders worth Rs 1,002 cr

KEC International rallied 2.43% to Rs 714.35 after the company announced that it has secured new orders of Rs 1,002 crore in its civil business.

The civil business has received orders for residential projects in northern and southern India from renowned real estate developers and for construction of official residences and associated facilities for senior defense officials in India.

Vimal Kejriwal, MD & CEO, KEC International commented, We are pleased with the new orders in our civil business, including our largest order in the residential segment. The civil business continues to be on an exponential growth trajectory, which is reflected in the substantial repeat orders secured from existing clients across diverse segments.

With this order in northern India, KEC is now constructing over 70 high-rise buildings for marquee clients across the country. These orders reaffirm our confidence that this business will continue to contribute significantly to KECs overall growth.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of Power transmission and distribution, railways, civil, urban infrastructure, solar, Oil & gas pipelines, and cables.

The companys consolidated net profit zoomed 110.3% to Rs 151.75 crore in Q4 FY24 as compared with Rs 72.17 crore posted in Q4 FY23. Net sales stood at Rs 6,164.83 crore, registering a growth of 11.6% year on year.

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