Gayatri Projects in demand after order win

Gayatri Projects surged 4.39% to Rs 17.85 after the company said it has received letter of award on 23 September 2020 for a water project in Uttar Pradesh.

The construction company on Thursday said it received Letter of Award (LoA) on 23 September 2020 from Namami Gange & Rural Water Supply Department in Uttar Pradesh for construction of Kachonda Kalan Group of Villages Water Supply Scheme and relevant works, including commissioning and operation & maintenance for 10 years.

The bid project cost is Rs 196 crore. The project is in joint venture where the company's share is 80%.

Gayatri Projects is the flagship company of the Gayatri Group that has interests in infrastructure, power, hospitality, real estate and industry.

 

On a consolidated basis, the company recorded a net loss of Rs 13.77 crore in June quarter as compared to a net profit of Rs 48.08 crore reported in the same period last year. Net sales tumbled 32.1% to Rs 667.95 crore in Q1 FY21 over Q1 FY20.

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