Kalpataru Projects stock rise on bagging order worth Rs 2,774 crore

In the past 12 months, Kalpataru Projects stock has zoomed 133 percent, more than doubling investors' capital. In comparison, Nifty rose 28 percent during this period.

Shares of Kalpataru Projects International Limited gained over a percent after the engineering and construction company secured new orders and notifications of awards totalling Rs 2,774 crore.

The new orders include projects in the Transmission & Distribution (T&D) business in overseas markets, an EPC project for the extension of an airport from the Airports Authority of India (AAI), and a design and build project for a residential building in India.

With this order win, the company's year-to-date (YTD) order intake has reached around Rs 9,800 crore and additionally, they have greater business visibility, Mohnot added.

The order from the Airports Authority of India (AAI) will mark Kalpataru Projects' entry in the growing domestic airport sector and further diversify their clientele.

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"The orders in the T&D and B&F business have further enhanced our market position and significantly strengthen our order book, thereby improving the growth visibility for these businesses going forward," said Manish Mohnot, MD & CEO, KPIL.

KPIL is one of the largest specialized EPC companies engaged in Power Transmission & Distribution, Buildings & Factories, Water Supply & Irrigation, Railways, Oil & Gas Pipelines, Urban Mobility (Flyovers & Metro Rail), Highways and Airports.

The company is currently executing projects in over 30 countries and has a global footprint in over 70 countries.

At 12:25 pm, Kalpataru Projects shares were trading around a percent higher at Rs 1,368 on NSE. The stock has rallied 90 percent so far this year, outperforming Nifty's returns of 14 percent.

In the past 12 months, the counter has zoomed 133 percent, more than doubling investors' capital. In comparison, Nifty rose 28 percent during this period.

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