IL&FS Engg rallies on bagging Rs 494 crore contracts

The company has bagged Rs 336 crore worth contract from Emaar-MGF for construction of a multi-storied group housing project in Gurgaon

IL&FS Engineering and Construction Company has hit the upper circuit filter limit of 20% at Rs 62.30 on bagging of construction projects worth Rs 494 crore in the buildings and structures segment.

“The Hyderabad-based engineering services company has bagged a Rs 336 crore worth contract from Emaar-MGF for construction of a multi-storied group housing project in Gurgaon, which is expected to be completed within 36 months,” the company said in a filing.

The second order, worth Rs 158 crore, has been received from Unitech Hi-Tech Projects for constructing an IT-SEZ in Uttar Pradesh, it added.

A combined 311,921 shares have already changed hands on the counter in opening trades and there are pending buy orders for 119,761 shares on the NSE and BSE.