 "Real Estate, Realty, Housing")
Shares of Ahluwalia Contracts shot up by 6.78 per cent, recording an intraday high of Rs 1,280 per share on the BSE on Tuesday. Ahluwalia Contracts share price today soared after the company bagged two work orders from the real estate firm Signature Global.
Ahluwalia Contracts stock price has appreciated by 61.08 per cent in the last six months, while rallying 75.58 per cent in the last one year, BSE data shows.
The group housing projects that the company secured involves building civil structure, part mechanical, electrical, and plumbing (MEP) and finishing works for all towers and basements and all other ancillary buildings at Project De-luxe DXP in Gurugram, Haryana. This project will yield Rs 1,144 crore to the company and will be completed by next 48 months, the company said.
Ahluwalia Contracts will do similar construction work at another residential site of Signature Global named Iconic Tower and also located in Gurugram. This will yield a revenue of Rs 163 crore to the firm and will be completed within 48 months.
In the April-June quarter of financial year 2024-25 (Q1FY25), the company's consolidated net profit fell 38.5 per cent to Rs 30.56 crore in Q FY25, down from Rs 49.71 crore in Q1 FY24. However, revenue from operations increased by 20.4 per cent year-on-year, reaching Rs 919.35 crore in Q1FY25 from Rs 763.61 crore in the June quarter of FY24.
At 10:00 AM; the share price of the company was trading 5.37 per cent higher at Rs 1,263. By comparison, the BSE Sensex was trading 0.08 per cent lower at 81,494 levels.
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The company has a total market capitalisation of Rs 8,318.59 crore. Its shares are trading at a price to earnings multiple of 22.53 times with an earning per share of Rs 53.21.
Ahluwalia Contracts is primarily involved in civil construction activities and has diversified into developing and operating commercial complexes under licence arrangements, as well as engaging in real estate trading.
As one of India's leading construction firms, the company's project portfolio includes residential and commercial complexes, hotels, institutional buildings, hospitals, corporate offices, IT parks, industrial complexes, metro stations and depots, power plants, and automated car parking lots.
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