RPP Infra Projects rose 3.58% to Rs 69.50 after the company announced receipt of new work orders worth Rs 231.77 crore for Chennai Kanyakumari Industrial Corridor Projects.
The order has been awarded to the joint venture, RPP-RK (JV), where the company holds 60% of the shares and joint venture partner R.K. Infra Corp. holds 40%.As decided by the joint venture, this work order will be executed by RPP Infra Projects subject to completion of formalities. The company has to execute these orders within 24 months.
With the above work order, the company is on way to have an order book of Rs 2,000 crore as on date.
RPP Infra Projects is one of India's fastest growing niche infrastructure players. On a consolidated basis, the company's net profit declined 70.5% to Rs 1.67 crore on a 33% fall in net sales to Rs 94 crore in Q2 September 2020 over Q2 September 2019.
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