Ramky Infrastructure shares soar 14% on ₹1,401 crore EPC contract win

Shares of Ramky Infrastructure rose over 14 per cent on Thursday after it secured a ₹1,401.84 crore EPC contract from Maharashtra Industrial Township for infrastructure works at Dighi Port Industrial Area Phase 1. 

 

The company's stock rose as much as 14.3 per cent during the day to ₹492.4 per share, the biggest intraday gain since October 7 last year. The stock pared gains to trade 13 per cent higher at ₹484 apiece, compared to a 0.51 per cent advance in Nifty 50 as of 10:18 AM. 

 

Shares of the company snapped a three-day losing streak and currently trade at 433 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 12 per cent this year, compared to a 6.1 per cent decline in the benchmark Nifty 50. Ramky Infra has a total market capitalisation of ₹3,361.97 crore. 

Ramky Infra secures EPC contract

Ramky Infrastructure has secured a ₹1,401.84 crore EPC contract from Maharashtra Industrial Township Ltd. (MITL) for infrastructure works at the Dighi Port Industrial Area Phase 1 under the Delhi Mumbai Industrial Corridor.

 

The contract includes engineering, procurement and construction works along with operations and maintenance revenues, it said in an exchange filing. The project will be executed within 930 days from the appointed date, followed by an operations and maintenance period of four years, which may be extended upon mutual agreement.

 

MITL, a special-purpose vehicle backed by the Government of India and the Maharashtra state government, is developing Parcel B of the Dighi Port Industrial Area in Raigad district. Ramky Infra said the project will cover end-to-end execution, including design, engineering, construction, testing and commissioning, and will be delivered using its internal engineering and project management capabilities.

 

This LoA reinforces our execution-led strategy focused on selective, large-format opportunities, where engineering depth, commissioning discipline, and lifecycle accountability are critical," Sunil Nair, chief executive officer, Ramky Infra, said. "DPIA is a high-importance industrial corridor assignment, and we will apply our in-house delivery systems to ensure predictable commissioning and performance outcomes, supported by the four-year performance-based O&M commitment embedded in the scope."

 

Ramky Infrastructure principally operates in two business segments: construction and development. In the development business, the group constructs roads under built-operate-transfer (BOT) modes, industrial parks, special economic zones, and bus terminals.