GPT Infra shares gain on winning project worth Rs 204 crore

GPT Infraprojects

GPT Infraprojects share price jumped nearly 2 percent in the opening trade on September 2 after the company declared lowest bidder for the order valued of Rs 204 crore.

At 09:30am, GPT Infraprojects was quoting at Rs 180.40, up Rs 3.20, or 1.81 percent, on the BSE.

The contract, awarded by CAO Construction, South Eastern Railway, involves the construction of multiple Road Over Bridges (ROBs) and associated bridge approaches between Andul-Sankrail and Nalpur-Bauria Stations on the Howrah-Kharagpur section.

Catch all the market action on our live blog

Earlier, the company’s fund-raising committee had approved the issuance of equity shares through a Qualified Institutional Placement (QIP) at a price of Rs 174.64 per share.

This price reflects a discount of Rs 9.19 per share from the floor price of Rs 183.83, equating to a 5% discount, and includes a premium of Rs 164.64 per share.

For Q1 FY25, GPT Infraprojects reported a 31.61 percent increase in net profit, reaching Rs 16.03 crore year-on-year.

Net sales also saw a modest increase of 2.47 percent, climbing to Rs 241.73 crore compared to Rs 235.90 crore in the same period last year.