Globe Civil Projects shares gain 5% on ₹222 crore order win; details here

Globe Civil Projects shares rose 5 per cent on bagging a ₹222.2 crore order for the construction of a Cricket Stadium in Haryana

Shares of Globe Civil Projects surged nearly 5 per cent on Wednesday after it received a ₹222.2 crore order for the construction of an International Cricket Stadium in Haryana.

 

The civil construction major's stock rose as much as 4.9 per cent during the day to ₹82.4 per share, the biggest intraday rise since August 8 this year. The stock pared gains to trade 1.6 per cent higher at ₹79.8 apiece, compared to a 0.13 per cent advance in Nifty 50 as of 10:48 AM. 

 

Shares of the company snapped a two-day losing streak but have been range-bound since the beginning of August. The shares, which debuted on the exchanges on July 1 this year, have declined 10 per cent since listing.  Globe Civil Projects has a total market capitalisation of ₹481.34 crore.   Track LIVE Stock Market Updates Here

 

Globe Civil Projects wins ₹222 crore order

The company secured a major contract worth ₹222.2 crore from the Haryana Cricket Association for the construction of an international cricket stadium at Lohat in Jhajjar district, Haryana. The project is slated for completion within 24 months.

 

The scope of work involves execution of the stadium on a bill-of-quantities (BOQ) basis, underscoring the company’s growing role in developing large-scale infrastructure facilities across the country. The deal also boosts its order book and marks a strategic foray into sports infrastructure.

 

“This project marks our entry into the sports infrastructure segment and reflects the confidence of our stakeholders in our ability to deliver large-scale assignments with precision and reliability,” said Ved Prakash Khurana, chairman and whole-time director of Globe Civil Projects.

 

Last month, the company announced the receipt of an order from NBCC (India) Ltd. valued at ₹172.99 crore. The contract involved the development of infrastructure and buildings for the Central University of Punjab at Village Ghudda in Bathinda, Punjab, on an Engineering, Procurement, and Construction (EPC) basis. 

About Globe Civil Projects

Globe Civil Projects Limited, headquartered in New Delhi, is an integrated Engineering, Procurement, and Construction (EPC) company involved in executing a wide range of infrastructure and non-infrastructure projects across India.

 

With operations spanning eleven states, the company has established a solid track record in delivering projects across Transport & Logistics, Social & Commercial Infrastructure, and Premium Residential and Commercial Developments.

 

Traditionally known for its expertise in constructing railway infrastructure and educational institution buildings, Globe Civil Projects has strategically diversified into more complex and specialised segments, including railway bridges, elevated railway terminals, airport terminals, and hospitals.