Welspun Ent spurts on bagging Rs 1,989-cr order from BMC

Welspun Enterprises rallied 3.42% to Rs 557 after the company has secured order worth Rs 1,989.40 crore from Brihanmumbai Municipal Corporation (BMC) for the construction of tertiary treated water conveyance tunnel from Dharavi to Ghatkopar.

The contract encompasses the design and construction of two very deep shafts at Ghatkopar WWTF and Dharavi WWTF, and an 8.48 km long reinforced in-situ concrete lined tunnel of 2.7 metre finished diameter. This tunnel is to be constructed using tunnel boring machine (TBM).

The project will be completed within a timeframe of 93 months.

The outstanding order book of the company as on 30 June 2024 was Rs 12,300 crore on standalone basis. With the addition of this order, the outstanding order book of the company is Rs 14,300 crore (less execution done in Q2 FY25), of which Rs 9,900 crore is from the water sector (including Rs 4,400 crore from O&M & Asset replacement), Rs 1,989 crore from newly added Tunnel segment and the balance Rs 2,400 crore is from transportation sector (excluding Rs 1,900 crore for a road project bid, for which the company is L1).

Additionally, Welspun Michigan Engineers, a subsidiary company, has also been awarded a project valued at approximately Rs 24.60 crore, for wastewater treatment in Maharashtra.

With the new order inflows, the consolidated order book is around Rs 15,800 crore (less execution done in Q2 FY25).

BK Goenka, chairman of Welspun World, said, The above projects are a testament of our commitment to sustainable infrastructure development, in line with our stated objectives of Growth and Green. Both these projects are aimed at improving water quality and contribute to circular economy by reuse of treated wastewater.

Sandeep Garg, managing director of Welspun Enterprises, said, We are honoured to be working with the BMC for the DGT project, which is their path-breaking endeavour to reuse treated wastewater in a comprehensive manner. With this project, WEL at the consolidated level, would be collecting the wastewater at source, conveying it to the wastewater treatment facility at Dharavi and transporting the treated water for further refinement and reuse. This is a unique combination of projects that holistically benchmarks the concept of reuse of wastewater."

Welspun Enterprises is engaged in the civil construction contract. They are offering various types of works, such as mass housing and township, multi-storied buildings, industrial projects for coal mines, fertilizer plants, petrochemicals and water retaining structures.

The companys consolidated net profit increased 6.8% to Rs 98.02 crore in Q1 FY25 as compared to Rs 91.77 crore posted in Q1 FY25. Revenue from operations jumped 29.8% YoY to Rs 907.25 crore in Q1 FY25.

Powered by Capital Market - Live News