IRCON Intl gains after tieup with Patel Engg for infra projects

IRCON International rose 1.54% to Rs 226.80 after signing an MoU with Patel Engineering for collaboration on infrastructure projects in India and abroad.

IRCON International announced that it "signed a Memorandum of Understanding (MoU) with Patel Engineering on 16th October, 2024 for collaboration and co-operation with each other to explore, identify, pursue and jointly execute mutually beneficial business opportunities in various infrastructure projects in India and Overseas."

IRCON International is a public sector construction company, with emphasis on infrastructure projects, with specialization in execution of Railway projects on turnkey basis and otherwise. After commencing business as a railway construction company, it diversified progressively to roads, buildings, electrical substation and distribution, airport construction, commercial complexes, as well as metro rail works.

 

On a consolidated basis, net profit of IRCON International rose 19.57% to Rs 224.02 crore on 17.25% decline in net sales to Rs 2287.13 crore in Q1 June 2024 over Q1 June 2023.

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