Shares of RPP Infra Projects soared 9% to hit a new 52-week high of ₹68.60 apiece in early trade on Tuesday after it secured an LoA worth ₹138.24 crore in a JV format (RPP to own 51%).
"The order is for the construction, testing, commissioning, trial run, operation, and maintenance of various components of augments of sources of various LWSS from the River Beas of Barsar area (Barsar Constituency) in Tehsil Barsar District Hamirpur, Himachal Pradesh," the company said in an exchange filing on Monday.
The company's shares have been on a winning streak for the last eight trading sessions, gaining 12% on strong order wins.
Earlier, on June 5, the company secured multiple orders, including the construction of a three-lane additional flyover and a vehicular underpass in different locations within the Salem-Kumarapalaym section of NH-544. The total value of this order amounts to ₹125.85 crore.
The company also secured an order for the restoration, rejuvenation, and beautification of the Vandiyur tank, located within the Madurai City Municipal Corporation (MCMC), for a contract price of ₹41.15 crore, and a project from various town panchayats for improvements to the existing water supply distribution system and providing house service connection at Odugathur, Pallikonda, Othakkalmandapam, Kannampalayam, and Nilakkottai for a value of ₹122.3 crore.
As of June 30, 2023, the company's order book stood at ₹3,240 crore. RPP Infra Projects is a small-cap stock. It is primarily engaged in the business of infrastructure development, such as highways, roads, and Bridges.
The company provides integrated engineering, procurement, and construction services for civil construction and infrastructure projects.
During the March quarter (Q4FY23), the company recorded a net profit of ₹16 crore, a significant improvement compared to a net loss of ₹09 crore in the same period last year. Its revenue from operations for the quarter reached ₹306 crore, higher than the ₹278 crore generated in Q4 FY22.
Looking at the overall fiscal year 2022–23, the company achieved a net profit of ₹29 crore, marking a significant improvement from the net profit of ₹5 crore in the previous fiscal year. The total revenue for FY23 stood at ₹1,040 crore, an increase from ₹802 crore.
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