Welspun Ent rises after emerging as L1 bidder for Rs 1,990-cr project

Welspun Enterprises advanced 1.77% to Rs 566.50 after the company said that it has been declared as L1 bidder by the Brihanmumbai Municipal Corporation for design and construction of Tertiary Treated Water Conveyance Tunnel from Dharavi to Ghatkopar.

The key scope of the contract includes the design and construction of an 8.48 km tunnel with a 3,500 mm bored diameter.

The total contract value is estimated to be Rs 1,989.90 crore and to be executed within a period of 93 months using a tunnel boring machine.

Welspun Specialty Solutions is primarily engaged in the business of manufacture and distribution of steel and steel products and revenue from such products is derived from transfer at a point in time which is shown under sale of products.

The company reported standalone net profit of Rs 40.03 crore in Q4 FY24, steeply higer than Rs 8.06 crore recorded in Q4 FY23. Revenue from operations increased 9.8% YoY to Rs 151.27 crore in Q4 FY24.

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