IL&FS Engg extends gains on construction order worth Rs 675cr

Order is for construction of Orchid Heights in Byculla

Shares of IL&FS Engineering and Construction were up nearly 3% at Rs 35.80 after the company said it has received a huge order worth Rs 675 crore for construction of residential buildings in central Mumbai.

A letter of award has been received from Neelkamal Realtor Tower Pvt Ltd for construction of 'Orchid Heights', a high-rise residential project at Byculla in Mumbai. The total value of Shell & Core portion of the contract is Rs 675 crore which is to be completed in 39 months, the company said in a release.

The 'Orchid Heights' project has two high rise towere - Tower A and Tower B with a total built-up ares of around 28,22,134 sq.ft., the release said.
 

Nearly 32,000 shares were traded in the counter on both the stock exchanges so far.