The stock of construction & engineering company was trading at its new high rallying 32% from Rs 153 on May 9, 2018. On comparison, the S&P BSE Sensex has dipped 2.4% during the same period.
Total income during the quarter under review, rose more than double to Rs 4,319 million against Rs 2,142 million in the corresponding quarter of previous fiscal.
Commenting on the developments, Mr. B. K. Goenka, Chairman, Welspun Group said, “FY18 has been a remarkable year for Welspun Enterprises with strong operational and financial improvement. This has been the result of our focussed approach to infrastructure and particularly, HAM road projects. Our strong order book provides visibility of doubling revenues each year for the next two years, creating long-term value for our stakeholders.”
Welspun Enterprises current order book (incl. L1) at Rs 55 billion with Hybrid Annuity Model (HAM) portfolio of 6 projects
Welspun Enterprises said it is targeting to bid for around 30 of these projects aggregate value close to Rs 330 billion, with a total length of almost 1,400 km in the current quarter. WEL will continue to selectively bid for HAM projects, and participate in the Bharatmala programme of NHAI.
The Company has currently submitted bids for 2 such projects, totalling almost Rs 20 billion, which are yet to be opened. This is in addition to the L-1 bidder status in one project as already stated, it added.