Niraj Cement gains as JV bags contract worth Rs 115 crore from NHAI
Niraj Cement Structurals rose 1.81% to Rs 55.13 after its joint venture, Niraj-SPPL JV, has secured a construction contract valued at Rs 115.01 crore from the National Highway Authority of India (NHAI).
The official announcement was made after market hours on 28 March 2025.
The order involves the construction of 5 Nos. of VUPs at Km 434+150, Km 452+150, Km 456+000, Km 462+670, and Km 466+270, along with 1 No. flyover at Km 442+610, including approach roads, in the Puintola to Icchapuram section of NH-16 in the state of Odisha. The project will be executed on an engineering, procurement, and construction (EPC) basis.
The total value of the order is Rs 115.01 crore, and the project is scheduled for completion within 12 months.
Niraj Cement Structurals is engaged in infrastructural services.
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The companys consolidated net profit surged 65.6% to Rs 2.17 crore, despite a 5.4% decline in revenue from operations to Rs 119.77 crore in Q3 FY25 compared to Q3 FY24.
As of 1 April 2025, the companys market capitalization stood at Rs 238.37 crore on the BSE.
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First Published: Apr 01 2025 | 9:47 AM IST