KEC International rallied 4.96% to Rs 932.35 after the company announced that it has secured new orders of Rs 1,236 crore in its civil business.
The civil business has received orders for high-rise residential projects in Western India from renowned real estate developers, involving the development of over 5 million square feet of residential buildings along with associated facilities.Vimal Kejriwal, MD & CEO, KEC International, commented, We are delighted with the premium orders secured in our Civil business, including our largest order in the Buildings & Factories (B&F) segment. This marks a key milestone in our strategic foray into the premium high-rise residential segment, with buildings reaching up to G+70 storeys.
These wins have significantly strengthened our civil order book, particularly in the B&F segment, and expanded our presence with the addition of two prestigious clients. With these orders, KEC is now constructing over 70 high-rise buildings for marquee clients across the country. Our YTD order intake has surpassed Rs. 5,500 crores, a healthy growth of ~35% vis-vis last year.
KEC International is a global infrastructure engineering, procurement, and construction (EPC) major. It has a presence in the verticals of power transmission and distribution, railways, civil, urban infrastructure, solar, oil & gas pipelines, and cables.
The companys consolidated net profit zoomed 110.3% to Rs 151.75 crore in Q4 FY24 as compared with Rs 72.17 crore posted in Q4 FY23. Net sales stood at Rs 6,164.83 crore, registering a growth of 11.6% year on year.
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